Cross River State Is To Host AfSNET 2026 Investment Conference
The African Export-Import Bank (Afreximbank) (www.Afreximbank.com) and the Government of Cross River State have formally executed a Hosting Agreement for the 6th African Sub-Sovereign Governments Network Investment Conference 2026 (AfSNET 2026 Investment Conference), representing a notable achievement in regional collaboration and investment enhancement throughout Africa.
This agreement was finalized during the Sub-Sovereign Business Engagement session, which took place alongside the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria. It was signed by Prof. Benedict Oramah, the President & Chairman of the Board of Directors of Afreximbank, and H.E. Prince Bassey Edet Otu, the Executive Governor of Cross River State.
The agreement establishes Cross River State as the official host for the 2026 AfSNET Investment Conference, which is set to occur in Calabar, Cross River State, Nigeria. This event will gather sub-sovereign leaders, investors, development partners, and essential stakeholders to investigate trade and investment prospects across various regions of Africa.
AfSNET, initiated by Afreximbank in 2021 in partnership with the AfCFTA Secretariat, functions as a platform to enhance the involvement of Sub-Sovereign entities in promoting intra-African trade and development. The annual conference is designed to position city and state governments at the forefront of intra-African trade. The 2026 edition will highlight investment-ready projects, facilitate connections between investors and local governments, and encourage regional integration.
During the signing ceremony, President Oramah remarked: “When Afreximbank initiated AfSNET in 2021, our vision was explicit: to enhance the voices of Sub-Sovereign governments in influencing economic policy, unlocking investment prospects, and expediting trade throughout Africa. We strongly believe that development should be decentralized, originating from the areas where the needs are most evident in our cities, provinces, counties, and regions, and spreading outward to impact national and continental advancement.”
At the same event, H.E. Wamkele Mene, Secretary General of the AfCFTA Secretariat, stated: “Africa’s integration and transformation cannot solely be accomplished from the top down. It must be constructed from the ground up; in municipalities, states, and provinces where policy translates into reality for the populace. AfCFTA offers the framework, IATF provides the marketplace, and AfSNET serves as the link between local authority and continental influence. Let us take advantage of this moment to empower our sub-sovereigns, hasten the AfCFTA, and create an Africa that is more interconnected, inclusive, and competitive on a global scale.”
Prince Bassey Edet Otu, Executive Governor of Cross River State, conveyed his excitement regarding the opportunity: “We are privileged to host AfSNET 2026 and to present Cross River as a gateway for investment in Nigeria and West Africa. This event will stimulate economic growth, encourage partnerships, and enhance our state’s visibility on the continental platform.”
Preparations for AfSNET 2026 are already in progress, with both parties dedicated to organizing a world-class event. The conference will include plenary sessions, exhibitions, B2B meetings, and cultural displays, providing a vibrant setting for dialogue and business negotiations.
This year’s Sub-Sovereign Business Engagement in Algiers commemorates its fifth edition since its inception in 2021. The event saw participation from governors, mayors, and leaders of sub-sovereign governments hailing from various regions of Africa and the Caribbean. Previous editions of the conference took place in Durban, South Africa (2021), Abuja, Nigeria (2022), Cairo, Egypt (2023), and Kisumu, Kenya (2024). This annual gathering unites sub-national leaders from across the continent to share insights on fostering development within African regions.
Among the initiatives that have emerged from the AfSNET program are investments in industrial parks and Special Economic Zones in Ogun State, Nigeria, assistance in the development of deep seaports in Cross River State, Nigeria, and preparations for significant projects such as the Nyanza Light Metals initiative in KwaZulu-Natal, South Africa, to ensure their bankability. Additionally, support has been provided for feasibility and bankability studies for Africa’s inaugural blockchain-enabled, continuous manufacturing facility dedicated to essential medicines in Kisumu, Kenya.
