Cross River State Governor, Bassey Otu, has called on African sub-national governments to strengthen partnerships and develop viable investment projects capable of attracting funding and driving economic growth across the continent.
Otu made the call while presenting the communiqué at the closing ceremony of the sixth African Sub-Sovereign Governments Network (AfSNET) conference in Calabar on Saturday night.
He said states, regions, counties, cities and local governments across Africa have important responsibilities in promoting economic efficiency, international trade, investment and community development.
The governor described AfSNET as a vital platform for fostering cooperation among sub-national governments, private sector players and development finance institutions. He identified investment mobilisation, trade facilitation, industrialisation and infrastructure development as key drivers of Africa’s economic potential.
The communiqué recognised the African Export-Import Bank’s contributions to trade and investment across the continent, particularly through initiatives such as the African Trade Gateway and financing facilities supporting African businesses and cross-border commerce.
However, it emphasised the need for governments to strengthen project preparation, legal frameworks and investment promotion to attract sustainable funding. It also identified poor infrastructure in transportation, energy, ports and logistics as major obstacles to industrialisation and regional economic integration.
The meeting further stressed that special economic zones, agro-industrial platforms and other productive economic initiatives must be backed by credible investors and clear market demand.
It urged sub-national governments to strengthen their investment promotion agencies, provide access to reliable investment information and maintain engagement with potential investors beyond initial project presentations.
The communiqué also recommended improved coordination among institutions, effective implementation of investment decisions and stronger partnerships between governments and development partners.
On regional integration, participants highlighted the need to improve maritime connectivity, shipping systems and cross-border transportation to boost trade and industrial development across Africa.
It noted that investments should be evaluated based on their ability to expand production, increase exports, create jobs and support sustainable economic growth.
The communiqué also called for increased investment in emerging sectors, including the creative economy, industrialisation and special economic zones, to diversify African economies.
It urged African sub-national governments to convert the resolutions reached at the conference into practical programmes capable of delivering measurable economic benefits to their people.
The sixth AfSNET conference brought together sub-national governments and development stakeholders to explore investment opportunities, strengthen partnerships and promote economic cooperation across Africa.
(NAN)
