The African Export-Import Bank (Afreximbank) announced a $2 billion financing pledge for sub-national governments across Africa to boost economic development and trade, particularly under the African Continental Free Trade Area (AfCFTA). This initiative aims to address regional inequality and promote cross-border commerce.

• Afreximbank committed $2 billion to support sub-sovereign entities like counties, states, and municipalities.
• Benedict Oramah, President of Afreximbank, made the announcement at the 5th African Sub-Sovereign Governments Network (AfSNET) conference.
• The funding has already supported projects, including a $40 million pharmaceutical manufacturing facility in Kisumu, Kenya, expected to produce approximately two billion tablets and capsules annually.