Cross River State, Nigeria, has been confirmed as the official host of the 6th African Sub-Sovereign Governments Network (AfSNET) Investment Conference in 2026, following the signing of a Hosting Agreement with the African Export-Import Bank (Afreximbank). The deal, finalized during the Intra-African Trade Fair 2025 (IATF2025) in Algiers, marks a pivotal step in advancing sub-sovereign leadership in Africa’s trade and investment landscape.
Cross River State will now prepare to welcome sub-sovereign leaders, investors, and development partners to Calabar for the 2026 edition, a gathering expected to spotlight investment-ready projects and strengthen regional cooperation across the continent. The agreement was signed during the Sub-Sovereign Business Engagement session by Afreximbank President and Chairman, Prof. Benedict Oramah, and Cross River State Governor, H.E. Prince Bassey Edet Otu.
Launched in 2021 in collaboration with the AfCFTA Secretariat, AfSNET was conceived as a platform to empower cities, states, and provinces to play a greater role in driving intra-African trade and development. The 2026 edition, expected to attract leaders from across Africa and beyond, will focus on showcasing investment-ready projects, matchmaking investors with sub-sovereign governments, and deepening regional integration.
Prof. Oramah underscored Afreximbank’s vision during the signing, noting that Africa’s development must be rooted in local realities. “Our objective with AfSNET is to amplify the voices of sub-sovereign governments, ensuring that development is not only top-down but originates in municipalities, states, and provinces where needs are greatest. From there, it cascades outward to influence national and continental progress,” he said.
That message was echoed by AfCFTA Secretary General, H.E. Wamkele Mene, who framed AfSNET as the bridge between local action and continental transformation. “Integration will not be achieved from the top down alone. It begins at the ground level, where policy is translated into tangible impact. AfCFTA provides the framework, IATF provides the marketplace, and AfSNET connects local power to continental impact. This is how we build an Africa that is more connected, inclusive, and competitive globally.”
For Cross River State, hosting AfSNET 2026 represents both opportunity and responsibility. Governor Otu expressed his administration’s enthusiasm: “We are honoured to host AfSNET 2026 and position Cross River as a gateway for investment into Nigeria and West Africa. This event will not only showcase our state’s potential but also catalyze partnerships that can drive sustainable economic growth for our people and the continent.”
Preparations are already underway to deliver what is expected to be a landmark edition. The conference will combine plenary sessions, exhibitions, business-to-business engagements, and cultural showcases, offering participants a dynamic platform for dialogue, investment, and collaboration.
AfSNET has built a strong track record since its inception. Previous editions in Durban, Abuja, Cairo, and Kisumu have already yielded tangible results, including financing for industrial parks in Ogun State, Nigeria; support for deep seaport development in Cross River State; and feasibility studies for a blockchain-enabled pharmaceutical manufacturing hub in Kisumu, Kenya. These examples demonstrate AfSNET’s growing role in moving projects from concept to bankability, bridging the critical gap between vision and execution.
The 2026 edition in Calabar is poised to deepen this impact. By putting sub-national governments at the forefront of Africa’s trade and investment agenda, AfSNET challenges the long-standing perception that development can only be orchestrated at the national level. Instead, it highlights the untapped power of states, provinces, and municipalities to shape Africa’s growth trajectory in ways that are inclusive, localized, and sustainable.
AfSNET’s focus on sub-sovereign leadership also represents an important shift; Local governments are often closer to the realities of environmental stress, infrastructure gaps, and community needs. By empowering them, AfSNET is not only expanding investment opportunities but also ensuring that projects are more responsive, more accountable, and more capable of addressing Africa’s pressing challenges in energy, climate resilience, and industrialisation.
As Africa prepares for AfSNET 2026, the agreement signed in Algiers signals more than just a logistical milestone, it represents a strategic choice to ground continental ambitions in local action. With Afreximbank, the AfCFTA Secretariat, and sub-sovereign leaders aligned, the stage is set for Cross River State to host a gathering that could redefine how Africa mobilizes capital, builds partnerships, and accelerates sustainable growth from the ground up.
Read also: African banks and DFIs commit $100 billion at ACS2 to power green industrialisation
