The second edition of the African Sub-sovereign Governments Network (AfSNET) conference /Photo Courtesy Google/
Kisumu City is set to host the 4th Africa Export-Import Bank (Afreximbank) Sub-Sovereign Governments Network (AfSNET) Investment Conference from November 25 to 27, 2024, at the Grand Royal Swiss Hotel. This significant event is expected to draw leaders from across Africa, including heads of state, governors, mayors, policymakers, financial institutions, and other stakeholders dedicated to boosting trade, regional unity, and sustainable economic growth on the continent.
This year’s AfSNET will provide a platform to encourage investment and promote educational and cultural exchanges among local governments, while also activating the African Continental Free Trade Area (AfCFTA).
The Forum will attract members of the Forum of Regions of Africa (FORAF), private sector leaders, investors, development partners, and representatives from the diaspora, according to an Afreximbank statement. This diverse representation highlights the importance of collaboration across various sectors to achieve economic growth.
With the theme “Leveraging the AfCFTA for Sustainable Trade and Investment: A Development Pathway for African Sub-Sovereigns,” the conference aims to foster investment and growth at the local level, empower local governments to drive economic progress, and strengthen partnerships between governments, investors, and development partners in implementing the AfCFTA.
Photo courtesy of Kisumu County Government’s Facebook page.
The event will help position Kisumu as a burgeoning investment hub on both regional and global stages. Afreximbank will also introduce digital tools designed to enhance trade within Africa, showcasing innovative technologies that can streamline business operations and facilitate cross-border transactions. This focus on digitalization aligns with global trends towards more efficient and transparent trade practices.
Key attendees will include Afreximbank President Prof. Benedict Oramah, UCLGA Secretary General Jean Pierre Elong Mbassi, Kisumu Governor Prof. Anyang Nyong’o, AfCFTA Secretary General Wamkele Mene, and Cabinet Secretary for Investments, Trade, and Industry Salim Mvurya. Their participation underscores the high level of commitment from both public and private sectors in advancing Africa’s economic interests.
The inaugural AfSNET conference took place in Durban, South Africa, alongside the 2021 Intra-African Trade Fair (IATF2021). With Kisumu as this year’s host, the conference promises to be a pivotal moment for fostering collaboration and investment across Africa, paving the way for a more integrated and prosperous continent.
In addition to the conference, local businesses and entrepreneurs will have opportunities to engage with international investors, potentially leading to new partnerships and economic development initiatives. This event not only highlights Kisumu’s strategic importance but also reflects the city’s commitment to becoming a leader in regional economic development.
Kisumu’s hosting of the AfSNET conference represents an achievement in its journey towards becoming a key player in Africa’s economic landscape. The city is ready to leverage this opportunity to showcase its unique offerings and attract further investment, ultimately benefiting its residents and the wider region.
