Afreximbank has committed $2 billion to support local governments, towards trade and economic development.
This emerged at the African Sub-Sovereign Leaders and Businesses Conference in Kisumu, Kenya.
Now in its fourth year, the meeting aims to find ways of attracting investment and growing economies across the continent.
It is organized by Afreximbank, the Government of Kisumu and UCLG Africa.
Over 250 delegates are expected to attend the meeting which started on Monday and ends today (Wednesday, the 27th November 2024).
This year’s theme is “leveraging the AfCFTA for Sustainable Trade and Investment : A Development Pathway for African Sub-Sovereign.”
In his keynote address Dr William Ruto, President of Kenya, praised Afreximbank innovative approaches to furthering collaboration on the continent.
Professor Benedict Oramah, President of Afreximbank, said decentralizing is important for development.
He also said the bank’s AfSNET initiative promotes intra African trade and investment.
The conference is seen as a prelude to the upcoming Intra-African Trade Fair (IATF2025) in Algiers.
Picture: Supplied