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Zambia’s economic trajectory and Africa’s push for decentralised growth dominated discussions at the 5th African Sub-Sovereign Governments Network (AfSNET) Investment Conference, held on the sidelines of the Intra-African Trade Fair (IATF2025) in Algiers.
Afreximbank President and Chairman, Prof. Benedict Oramah, used Zambia as a case study to illustrate widening development disparities across Africa.
Quoting British economist Paul Collier, Oramah noted that “Zambia was once richer than its rival copper exporter, Chile; now the average income of Zambians is less than a tenth of Chileans’.”
He added that not only has the country become a “left-behind nation,” but regions such as the Copperbelt have suffered far greater setbacks than the more prosperous capital, Lusaka.
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“The differing economic experiences of the Zambian Copperbelt and Lusaka reflect a broader trend seen in many African countries,” he said, urging a rethink of centralised development planning.
Oramah pointed to Algeria’s gradual shift from centralisation since the 1980s, which has helped reduce inequality, as a model that could inspire others.
AfCFTA Secretary-General, Wamkele Mene, echoed the call for local empowerment, stressing that sub-sovereign governments—states, provinces, municipalities, and regions—are the “engine rooms” of Africa’s economic integration.
He said AfSNET had become a vital platform for local leaders to showcase investment-ready projects, connect with global investors, and build partnerships that translate “local power into global impact.”
Mene highlighted the role of intermediary cities that connect rural and urban economies, describing them as engines of inclusive growth.
He called for youth and women to be placed at the centre of economic programmes to ensure growth that is not only sustainable but also equitable.
Both leaders underscored the importance of public–private partnerships in mobilising resources for industrial parks, special economic zones, ports, and energy infrastructure.
Through AfSNET, Afreximbank has already committed US$2 billion to projects led by sub-national entities, including Africa’s first blockchain-enabled pharmaceutical manufacturing plant in Kenya.
Mene further outlined enablers for success, including the creation of a continental transit guarantee system to ease the movement of goods, digital tools such as Afreximbank’s African Trade Gateway to improve service delivery, and capacity-building to strengthen leadership at the local level.
“Africa’s transformation will not be achieved from the top down,” he said. “It will be built from the ground up, in municipalities and provinces where policy becomes reality in people’s lives.”
The Algiers conference brought together more than 20 Algerian Walis (Governors) alongside delegations from across Africa, the Caribbean, and the wider diaspora.
It explored how decentralised governance can accelerate the African Continental Free Trade Area and deliver tangible results for citizens.
Afreximbank announced that the 6th AfSNET Investment Conference will be hosted in Cross River State, Nigeria, in 2026.
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