Afreximbank and the Government of Cross River State have signed a hosting agreement for the 6th African Sub-Sovereign Governments Network (AfSNET) Investment Conference.
Scheduled for 2026 in Calabar, Nigeria, the event will bring together regional leaders, investors, and stakeholders to boost intra-African trade and development under the AfCFTA framework.
Strengthening Regional Leadership
The signing took place during the Sub-Sovereign Business Engagement session at the Intra-African Trade Fair 2025 in Algiers, Algeria. The deal underscores Cross River State’s growing role as a West African hub for investment.
Prof. Benedict Oramah, Afreximbank President, emphasized the importance of local governance in shaping economic progress. He said,
“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.
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.”
Building on AfSNET’s Vision
Launched in 2021 by Afreximbank and the AfCFTA Secretariat, AfSNET gives sub-sovereign governments a platform to shape trade and investment policy. The 2026 edition will spotlight investment-ready projects, matchmaking opportunities, and regional partnerships.
H.E. Wamkele Mene, AfCFTA Secretary General, stressed that Africa’s transformation will be built from the ground up, powered by local governments implementing continental frameworks. He 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”.
Cross River’s Strategic Role
Cross River Governor, Prince Bassey Edet Otu, hailed the event as a chance to position the state as a gateway to investment in Nigeria and the wider West African region. He said the conference will catalyze growth, attract global investors, and showcase Nigeria’s regional leadership.
Planned Activities
Preparations for AfSNET 2026 are underway, with commitments to deliver a world-class event. The program will include:
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Plenary sessions with continental leaders
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Investor exhibitions and business showcases
Economic Highlights of AfSNET 2026
| Focal Areas | Expected Outcome | Regional Impact |
|---|---|---|
| Investment-Ready Projects | Increased funding for infrastructure and trade | Stronger West African economy |
| B2B Matchmaking | Partnerships between investors and local governments | Boost to cross-border commerce |
| Cultural Showcases | Highlighting Africa’s heritage | Greater global interest in regional markets |
Impact Across Africa
Since 2021, AfSNET has supported projects including industrial parks in Ogun State, Nigeria, feasibility studies for major seaport projects in Cross River, and advanced manufacturing facilities in Kenya. The initiative has proven effective in mobilizing capital and creating jobs across multiple regions.
Regional Context
The decision to host AfSNET 2026 in Calabar comes at a time when West Africa is strengthening its role in the AfCFTA. With previous editions in South Africa, Nigeria, Egypt, and Kenya, the event has become a continental anchor for collaboration.
Looking Ahead
By uniting sub-sovereign leaders, Afreximbank and Cross River are signaling a shift toward decentralised economic growth. AfSNET 2026 will not only boost West Africa’s trade potential but also cement Africa’s collective path toward inclusive development.
Stakeholders and investors are encouraged to follow developments ahead of AfSNET 2026 to explore opportunities in regional integration, trade expansion, and long-term economic transformation.
Sources: Afreximbank, Cross River State Government, AfCFTA Secretariat, APO Group Release, Intra-African Trade Fair.
Prepared by Ivan Alexander Golden, Founder of THX News™, an independent news organization delivering timely insights from global official sources. Combines AI-analyzed research with human-edited accuracy and context.