NAIROBI, Kenya- Kisumu, Kenya’s picturesque lakeside city, was abuzz during the Fourth Investment Conference of the African Sub-Sovereign Governments Network (AfSNET).
This two-day event, hosted by the African Export-Import Bank (Afreximbank) in partnership with the County Government of Kisumu and the United Cities and Local Governments of Africa (UCLG Africa), brought together leaders to reimagine trade and advance the goals of the African Continental Free Trade Area (AfCFTA).
With over 250 participants in attendance, including Afreximbank President Benedict Oramah and UCLG Africa Secretary-General Jean Pierre Elong Mbassi, the discussions revolved around enhancing trade, breaking barriers, and unlocking Africa’s economic potential.
Kenyan President William Ruto, in his opening remarks, underscored the importance of empowering African institutions to tackle the continent’s unique economic challenges.
He singled out Afreximbank as a vital player in crafting tailored solutions for Africa’s growth.
“We see the value in growing African institutions that understand our landscape and our economies. They can better support and use creative means to support our economies,” Ruto emphasized.
Kenya’s partnership with Afreximbank, which includes a $3 billion framework agreement, has significantly advanced the country’s development goals.
According to Ruto, this collaboration has supported fuel imports, commodity trade, and infrastructure projects, and future agreements will focus on infrastructure development, the cotton value chain, and textile industry investments.
At the heart of the conference was a unified push to make cross-border trade smoother and more accessible.
Afreximbank President Benedict Oramah made a bold case for removing visa restrictions, stressing that this step is critical for the seamless movement of people, goods, and services across Africa.
The AfCFTA agreement aims to create the world’s largest free trade area by fostering intra-African trade.
Regional conferences like AfSNET play a pivotal role in encouraging collaboration and addressing hurdles to economic integration.
With representatives from government, finance, and trade sectors, the conference is a launchpad for actionable ideas.
Attendees deliberated on how to align policies and investments to fast-track Africa’s economic transformation. The focus remains on empowering local governments and fostering collaboration between public and private sectors to realize the continent’s full potential.
As the curtains fall on the Kisumu conference, it’s clear that Africa’s leaders are determined to strengthen regional cooperation, with institutions like Afreximbank paving the way for a more interconnected, resilient continent.
With the energy in Kisumu radiating far beyond its shores, the AfSNET conference promises to leave a lasting impact on Africa’s economic trajectory.
