Funmi Ogundare
Afreximbank, in partnership with the Cross River State Government, the Nigeria Governors’ Forum and the Forum of State Investment Promotion Agencies in Nigeria, will convene the sixth African Sub-Sovereign Governments Network Investment Conference (AfSNET) in Calabar from November 12 to 14, 2026, because the state intensifies efforts to draw funding and develop agricultural manufacturing.
The convention, scheduled to carry at the Calabar International
Centre, will give attention to mobilising funding, growing bankable tasks and strengthening intra-African commerce.
It comes as Cross River secured a dedication of greater than $20 million from ValueFronteira Limited to develop a 4,000-hectare oil palm plantation in Yala Local Government Area over 5 years.
An announcement by Afreximbank mentioned AfSNET had facilitated greater than $3.2 billion in funding alternatives and transactions since its institution in 2021. The community has convened greater than 1,400 delegates throughout 5 editions, with 21 African international locations represented.
The sixth version, themed “The Role of Sub-Sovereigns in Catalysing Development Through Trade and Investment,” is anticipated to convey collectively African sub-national governments, traders, monetary establishments and improvement companions to advance investment-ready tasks, partnerships and intra-African commerce alternatives.
The three-day programme will characteristic funding promotion coaching, challenge preparation workshops, funding showcases, discussions on Special Economic Zones, business-to-government deal rooms and funding pitch classes designed to attach sub-national governments immediately with financiers and traders.
Speaking on the convention, Cross River State Governor, Senator Bassey Otu, mentioned internet hosting the occasion would offer the state with a possibility to interact African and worldwide traders, showcase its funding alternatives and construct partnerships to help sustainable financial improvement.
“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,” he mentioned. Otu mentioned the state appeared ahead to welcoming governments, companies, financiers and improvement companions to Calabar.
Also talking, Afreximbank’s Executive Vice-President, Intra-African Trade and Export Development, Mrs Kanayo Awani, mentioned sub-sovereign governments had been central to Africa’s financial transformation as a result of a lot of the continent’s manufacturing, infrastructure improvement and funding passed off at that degree.
She mentioned AfSNET offered a platform for states, provinces and counties to strengthen challenge preparation, join viable alternatives with capital and construct the productive capability wanted to develop intra-African commerce.
“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,” Awani added.
Among the funding alternatives related to the community is the $40 million Med Aditus Pharmaceuticals challenge in Kisumu, Kenya. The challenge, which is below preparation, envisages a producing plant able to producing at least two billion tablets and capsules yearly for the therapy of non-communicable illnesses.
Established in 2021, AfSNET offers a platform for African states, provinces, counties, municipalities and different sub-sovereign authorities to showcase funding alternatives, interact traders and financiers, enhance challenge improvement capabilities and contribute to intra-African commerce, industrialisation and the implementation of the African Continental Free Trade Area.
Cross River Secures $20m Oil Palm Investment
Meanwhile, the Cross River State Government has signed a concession settlement with ValueFronteira Limited for the event of a 4,000-hectare oil palm plantation in Ijiegu Yache and adjoining clans in Yala Local Government Area, with the corporate committing greater than $20 million to the challenge over 5 years.
The challenge is anticipated to create 1000’s of jobs and increase agricultural manufacturing in six clans: Ijiegu, Wonye, Uchu, Ichui, Ukani and Ewor. It varieties a part of the state authorities’s agricultural transformation agenda aimed at strengthening meals safety, selling rural improvement and enhancing livelihoods.
Speaking at a stakeholders’ assembly and web site handover ceremony in Ijiegu Yache, the Managing Director of ValueFronteira Limited, Maurice Ekpong, mentioned the corporate would make investments greater than $20 million over 5 years to determine the plantation.
He mentioned the challenge would generate 1000’s of employment alternatives and considerably rework the economies of the host communities and the state.
Traditional rulers, group representatives, youths and ladies leaders welcomed the funding, expressing optimism that it will create jobs, notably for younger individuals, and stimulate financial actions throughout the communities.
The Clan Head of Wonye, HRH Mohie Damian Ododo, described the challenge as a dream come true and pledged the collective help of the clan heads for its profitable implementation. He additionally affirmed ValueFronteira as a company member of Yache land.
Other conventional rulers and representatives at the occasion included HRH Mohie Isaac Omaji, Clan Head of Ijiegu; HRH Mohie Innocent Okaiiba Aji, Clan Head of Ichui; HRH Mohie Ogar Idazor, Clan Head of Ukani; H.H. Augustine Obozor, representing Ewor Clan; and H.H. Pius Idagu, representing Uchu Clan.
In his remarks, the Senior Special Assistant to the Governor and Director-General of the Bureau of Public Private Partnerships, Dr Francis Ntamu, mentioned the concession course of was clear and aggressive, resulting in ValueFronteira’s emergence as the popular investor.
He disclosed that the challenge had acquired the total approval of the State Executive Council, including that it aligned with the federal government’s drive to draw funding and strengthen vital sectors of the economic system.
Ntamu mentioned the state authorities anticipated the funding to assist place Cross River as a significant agribusiness vacation spot in Nigeria whereas advancing meals safety, rural improvement and financial empowerment.
“The development is expected to expand commercial agricultural activities in Yala, create employment opportunities and stimulate economic growth in the host communities,” he mentioned.
The authorities delegation additionally included the Permanent Secretary, Ministry of Environment and Solicitor-General of the state, Rosemary Onah, and Brian Ugbe, a director within the Ministry of Agriculture, who represented the Commissioner for Agriculture.
