African Export-Import Bank (Afreximbank) has partnered with the Cross River State Government, Nigeria Governors Forum (NGF) and the Forum of State Investment Promotion Agencies in Nigeria (FoSIPAN) for the sixth African Sub-Sovereign Governments Network (AfSNET) Investment Conference in Calabar, Cross River State.
The conference with the theme “The role of Sub-Sovereigns in catalysing development through trade and investment,” will hold from November 12 to 14 at the Calabar International Convention Centre.
AfSNET, established by Afreximbank in 2021, will provide a platform for African states, provinces and other sub-sovereign authorities to “showcase investment opportunities, engage investors and financiers, strengthen project development capabilities,” a press statement by Afreximbank said on Wednesday.
Governor Bassey Otu appointed Afreximbank as the financial adviser for the development of the US$1.7 billion Bakassi Deep Seaport project as part of efforts to improve the state’s maritime sector.
Mr Otu said, “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.”
The Executive Vice President Intra-African Trade and Export Development, Afreximbank, Kanayo Awani,
said “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.”
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