Afreximbank To Convene Sixth African Sub-Sovereign Governments Network (Afsnet) Investment Conference In Nigeria To Advance Sub-Sovereign Funding And Trade

(MENAFN- APO Group)

African Export-Import Bank (Afreximbank) ( ) in partnership with the Cross River State Government, Nigeria Governors Forum (NGF) and the Forum of State Investment Promotion Agencies in Nigeria (FoSIPAN) will convene the sixth African Sub-Sovereign Governments Network (AfSNET) Investment Conference in Calabar, Cross River State, Nigeria, from 12 to 14 November 2026, bringing together African sub-sovereign governments, investors, financial institutions and development partners to advance investment-ready projects, partnerships and intra-African trade opportunities across the continent.

The conference will take place at the Calabar International Convention Centre under the theme“The role of Sub-Sovereigns in catalysing development through trade and investment”.

Established by Afreximbank in 2021, AfSNET provides a structured platform for African states, provinces, counties, municipalities and other sub-sovereign authorities to showcase investment opportunities, engage investors and financiers, strengthen project development capabilities and contribute more directly to intra-African trade, industrialisation and implementation of the African Continental Free Trade Area (AfCFTA). It's a platform for taking the AfCFTA and Afreximbank products to the grassroots.

Since its inception, AfSNET has convened more than 1,400 delegates across five editions, with 21 African countries represented, and facilitated over US$3.2 billion in investment opportunities and transactions.

These investment opportunities include the US$40 million Med Aditus Pharmaceuticals project in Kisumu, Kenya, which is under preparation and envisages a manufacturing plant with capacity to produce at least two billion tablets and capsules annually for the treatment of non-communicable diseases. In Nigeria, the Cross River State Government has appointed Afreximbank as financial adviser for the development of the US$1.7 billion Bakassi Deep Seaport project, which has the potential to strengthen maritime trade connectivity and support industrial and logistics development. In South Africa, the US$871 million Nyanza Light Metals project is under development and involves a titanium dioxide pigment manufacturing plant with a planned annual capacity of 80,000 metric tonnes, supporting mineral beneficiation and industrialisation.

The 2026 conference will build on AfSNET's focus on investment promotion, project preparation and direct engagement between sub-sovereign governments, investors and development partners. Previous editions have provided governments with opportunities to showcase projects, strengthen investment promotion capabilities and engage potential investors.

At the sixth edition in Calabar, the focus will increasingly be on converting investment potential into bankable projects and transactions.

The three-day programme will include investment promotion training, project preparation workshops, investment showcases, discussions on Special Economic Zones, business-to-government deal rooms and investment pitch sessions designed to connect sub-sovereign governments directly with financiers and investors. Sessions will also explore opportunities in tourism and the creative economy, trade-enabling infrastructure and regional economic integration.

Speaking on the conference , H.E. Senator Bassey Otu, Governor of Cross River State, Nigeria, commented:“Hosting the sixth AfSNET Investment Conference provides Cross River State with an important opportunity to engage African and international investors, demonstrate the breadth of investment opportunities within the State and build partnerships that can support sustainable economic development. We look forward to welcoming governments, businesses, financiers and development partners to Calabar and to demonstrating the important role that sub-sovereign governments can play in driving trade and investment under the AfCFTA.”

Highlighting the critical role Sub-sovereign governments play in their respective countries, Mrs Kanayo Awani, Executive Vice President Intra-African Trade and Export Development, Afreximbank stated:“Sub-sovereign governments are central to Africa's economic transformation because they are where much of the continent's production, infrastructure development and investment ultimately take place. Through AfSNET, we are creating a practical platform through which states, provinces and counties can strengthen project preparation, connect viable opportunities with capital and build the productive capacity needed to expand intra-African trade. The sixth AfSNET Investment Conference will therefore place particular emphasis on bankable projects, investment mobilisation and partnerships that can support industrialisation, value addition and stronger regional value chains.”

Afreximbank recognises sub-sovereign governments as critical to the implementation of the AfCFTA because of their proximity to local businesses, infrastructure, productive sectors and communities. AfSNET aims to help translate continental trade ambitions into productive investment and economic activity within Africa's states, provinces and counties by strengthening project preparation, investment promotion and access to capital.

The 2026 conference will therefore seek to strengthen practical links between investment opportunities and capital, while providing participating authorities with the knowledge, networks and tools needed to develop projects capable of attracting long-term financing.

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A strong supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2025, Afreximbank's total assets and contingencies stood at over US$48.5 billion, and its shareholder funds amounted to US$8.4 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), Moody's (Baa2) and S&P Global Ratings (BBB+). The Bank is headquartered in Cairo, Egypt.

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