Afreximbank and Cross River State Forge Key Investment Alliance

Afreximbank and Cross River State Forge a New Path to Investment

Afreximbank and the Government of Cross River State have taken significant steps to bolster regional cooperation and enhance investment opportunities by signing a Hosting Agreement. This agreement is pivotal for the upcoming 2026 African Sub-Sovereign Governments Network Investment Conference (AfSNET), aimed at facilitating cross-border trade and investment across the African continent.

Establishing a Major Hosting Role

The agreement was formalised during the Sub-Sovereign Business Engagement session at the ongoing Intra-African Trade Fair 2025 (IATF2025). Notable figures in attendance included Prof. Benedict Oramah, Afreximbank's President and Chairman, alongside H.E. Prince Bassey Edet Otu, the Executive Governor of Cross River State. This moment symbolises a step forward in building stronger partnerships for economic development within Africa.

Importance of Cross River State as Host

With Cross River State designated as the official host of the 2026 AfSNET Investment Conference, Calabar is set to welcome sub-sovereign leaders, investors, and development partners. This gathering will serve as a platform to explore promising trade and investment opportunities, emphasizing the critical role of local governments in driving economic growth.

Amplifying Voices through AfSNET

Launched in 2021, AfSNET aims to strengthen the engagement of Sub-Sovereign entities in advancing intra-African trade and economic development. It’s designed to put city and state governments at the forefront of these discussions, facilitating networking and collaboration. The upcoming conference in 2026 is expected to highlight investment-ready projects, matching local governments with willing investors to enhance regional integration.

Statements from Key Leaders

During the signing ceremony, President Oramah stated, "Afreximbank's vision for AfSNET is to empower sub-sovereign governments to drive economic policy and stimulate investment. Our focus is to ensure development initiatives originate from the grassroots, addressing the needs of cities and regions effectively. This is how we accelerate national and continental progress."

Echoing these sentiments, H.E. Wamkele Mene, Secretary General of the AfCFTA Secretariat, remarked, "True integration across Africa will emerge from development initiatives rooted in communities. The AfCFTA offers a vital framework, while IATF acts as a marketplace, with AfSNET bridging local governments and regional impact. It's a moment to endorse the empowerment of our sub-sovereigns and strengthen the AfCFTA movements for a more interconnected and competitive Africa."

Excitement Surrounding AfSNET 2026

Governance in Cross River State is keen to showcase the region as a hub for investment in Nigeria and West Africa. Governor Otu expressed his commitment to making AfSNET 2026 a landmark occasion for economic growth and partnership building. He indicated that this event would significantly elevate the state's visibility within continental frameworks.

Preparations for a World-Class Event

Preparations are well underway to ensure the success of AfSNET 2026. The conference will feature various engaging elements, including plenary sessions, exhibitions, B2B meetings, and cultural showcases to stimulate dialogue and negotiations among attendees.

A Historical Context of Engagement

This year's Sub-Sovereign Business Engagement has been a collective effort since its inception in 2021 and marks its fifth edition. Previous gatherings took place in significant urban centers such as Durban, Abuja, Cairo, and Kisumu, bringing together leaders from African and Caribbean sub-sovereign governments to share insights and foster collaboration for regional development.

Successful Outcomes from AfSNET Initiatives

Several projects resulting from AfSNET initiatives have already made a tangible impact. These include funding for industrial parks and Special Economic Zones, development of deep-seaport projects in Cross River State, and facilitating essential projects aimed at enhancing African economic capabilities. One such project includes the Nyanza Light Metals initiative in KwaZulu-Natal, which emphasizes the importance of securing bankable projects within the region.

Frequently Asked Questions

What is the significance of the Hosting Agreement?

The Hosting Agreement officialises Cross River State's role in hosting the AfSNET 2026 Investment Conference, promoting investment opportunities across Africa.

Who attended the signing ceremony?

Key figures such as Prof. Benedict Oramah and H.E. Prince Bassey Edet Otu attended this significant event, marking a milestone in regional cooperation.

What is the main goal of AfSNET?

AfSNET aims to empower Sub-Sovereign governments to enhance their roles in promoting intra-African trade and investment.

What can participants expect at AfSNET 2026?

The conference will feature plenary sessions, exhibitions, B2B meetings, and cultural showcases, creating a dynamic setting for dialogue.

What outcomes have emerged from past AfSNET events?

Successful initiatives include development funding for industrial parks and projects improving the economic landscape in various African regions.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.