Cross River State Partners with Afreximbank for Major Investment Conference in 2026

Major Development in African Investment Landscape

In a significant move for regional collaboration and investment strategies, the African Export-Import Bank (Afreximbank) has signed a Hosting Agreement with the Government of Cross River State, Nigeria. This agreement marks the commencement preparations for the upcoming 6th African Sub-Sovereign Governments Network (AfSNET) Investment Conference set for 2026.

Event Highlights
The formal agreement was reached during a Sub-Sovereign Business Engagement session, part of the larger Intra-African Trade Fair 2025 taking place in Algiers, Algeria. Notable attendees included Prof. Benedict Oramah, the President and Chairman of the Board of Afreximbank, and H.E. Prince Bassey Edet Otu, the Executive Governor of Cross River State.

This upcoming conference focuses on uniting leaders from sub-sovereign governments, development partners, investors, and other stakeholders to identify and discuss trade and investment opportunities throughout the African continent. Hosting the event in Calabar, the capital of Cross River State, presents an exciting opportunity for the region to enhance its profile as a hub for investment.

Afreximbank's Vision for AfSNET
Launched in 2021, AfSNET was established to elevate the role of sub-sovereign entities in advancing intra-African trade and development. Every year, the conference aims to shine a spotlight on investment-ready projects while enabling networking between investors and local governments to facilitate regional economic integration. During the signing ceremony, President Oramah articulated his commitment to decentralizing economic policies to empower local authorities, ultimately enhancing national and continental growth.

Opening New Frontiers for Development
The Secretary-General of the AfCFTA Secretariat, H.E. Wamkele Mene, echoed these sentiments by emphasizing that Africa's transformation requires approaches that originate locally, being rooted in municipalities and states. He pointed out that AfCFTA provides the necessary framework, while AfSNET serves as a vital link to connect local initiatives with broader continental objectives.

Governor Otu expressed enthusiasm for this partnership, asserting that the 2026 AfSNET Conference will serve not only as a platform for regional dialogue but will also catapult Cross River into the spotlight as a prime destination for investment within Nigeria and West Africa. This collaboration aims to unlock significant opportunities for local economies, enhance relationships with investors, and drive economic growth in the region.

Current Preparations and Expectations
Preparations for the event are already in progress, with both Afreximbank and the Cross River State government committed to ensuring a successful and impactful conference. The event is expected to feature a mix of plenary sessions, exhibitions, business-to-business meetings, and cultural showcases, fostering a vibrant environment for dialogue and investment negotiations.

The Sub-Sovereign Business Engagement this year marks its fifth edition since its establishment in 2021. Previous conferences have drawn participation from governors, mayors, and development leaders from across Africa and the Caribbean. Prior events traveled across various cities, including Durban, Abuja, Cairo, and Kisumu, thus promoting an exchange of ideas and experiences aimed at bolstering development initiatives across the continent.

Grounded in Progress
Success stories arising from AfSNET include significant funding initiatives for industrial parks and Special Economic Zones in Ogun State, support for deep seaport construction projects in Cross River State, and proactive planning for ventures like the Nyanza Light Metals initiative in KwaZulu-Natal, South Africa. This collaborative effort has also been instrumental in preparing feasibility studies for groundbreaking projects, such as Kenya's first blockchain-enabled manufacturing facility for medicines.

For those keen on participating or learning more about pan-African investment prospects, further information is available at www.intrafricantradefair.com.

As Africa seeks to empower its local governments and stimulate cross-border trade, the upcoming AfSNET 2026 Investment Conference promises to be a significant contributor to the continent’s economic narrative. The time is ripe for investors worldwide to engage with Africa's burgeoning market potential.