The African Export-Import Bank (Afreximbank) and the Government of Cross River State have signed a hosting agreement for the 6th African Sub-Sovereign Governments Network (AfSNET) Investment Conference, which will take place in 2026 in Calabar, Nigeria.
The agreement was concluded during the Sub-Sovereign Business Engagement session at the Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria. It was signed by Afreximbank President and Chairman of the Board of Directors, Prof. Benedict Oramah, and Cross River State Governor, Prince Bassey Edet Otu.
The 2026 AfSNET Investment Conference is expected to bring together sub-sovereign leaders, investors, development partners and stakeholders to explore trade and investment opportunities across Africa’s regions. Organisers said the event will highlight investment-ready projects, facilitate matchmaking between local governments and investors, and promote regional integration.
“When Afreximbank launched AfSNET in 2021, our vision was clear: to amplify the voices of Sub-Sovereign governments in shaping economic policy, unlocking investment opportunities, and accelerating trade across Africa,” Oramah said. “We firmly believe that development must be decentralised, originating where the needs are most pronounced in our cities, provinces, counties, and regions and cascading outward to influence national and continental progress.”
AfSNET was launched in 2021 by Afreximbank in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat. It is designed to strengthen the role of cities, states and provinces in driving intra-African trade and development.
AfCFTA Secretary General Wamkele Mene, speaking at the signing, said: “Africa’s integration and transformation will not be achieved from the top down alone. It will be built from the ground up; in municipalities, states, and provinces where policy becomes reality in people’s lives. AfCFTA provides the framework, IATF provides the marketplace, and AfSNET is the bridge between local power and continental impact. Let us seize this moment to empower our sub-sovereigns, accelerate the AfCFTA, and build an Africa that is more connected, inclusive, and globally competitive.”
Governor Otu welcomed the opportunity to host the 2026 edition. “We are honoured to host AfSNET 2026 and showcase Cross River as a gateway to investment in Nigeria and West Africa. This event will catalyse economic growth, foster partnerships, and elevate our state’s profile on the continental stage,” he said.
Preparations are underway for the conference, which will include plenary sessions, exhibitions, business-to-business meetings and cultural showcases.
The Algiers Sub-Sovereign Business Engagement marked the fifth edition of the event since 2021. Previous editions were held in Durban, South Africa (2021), Abuja, Nigeria (2022), Cairo, Egypt (2023) and Kisumu, Kenya (2024).
Projects that have emerged from AfSNET initiatives include financing for industrial parks and special economic zones in Ogun State, Nigeria; support for deep seaport development in Cross River State; and advancing bankability studies for projects such as the Nyanza Light Metals initiative in KwaZulu-Natal, South Africa, and Africa’s first blockchain-enabled continuous manufacturing facility for essential medicines in Kisumu, Kenya.
