President Ruto Calls for Strengthening of African Institutions to Drive Continental Agenda

Kenyan President Advocates for Customized Solutions from African Institutions, Highlights Partnerships with Afreximbank for Economic Growth.

President William Ruto has emphasized the importance of strengthening African institutions to tackle the continent's unique challenges and drive its economic growth. Speaking at the Fourth African Sub-sovereign Governments Network Investment Conference in Kisumu City, the President highlighted that African institutions have a profound understanding of the continent's economies and are better positioned to provide tailored solutions.

President Ruto pointed out that institutions like the African Export-Import Bank (Afreximbank) have shown an ability to deliver innovative solutions that support economic progress. He cited Afreximbank’s role in advancing trade and finance across Africa, particularly through initiatives like the Pandemic Trade Impact Mitigation Facility and the Fund for Export Development in Africa, as examples of the bank’s commitment to mitigating economic shocks, promoting sustainable industrialization, and boosting intra-Africa trade.

The President emphasized that Kenya has benefitted significantly from its partnership with Afreximbank, citing a framework agreement worth $3 billion (KSh 387 billion) which has supported the country in areas such as fuel imports, commodity trade, and other key sectors. He also announced plans for Kenya to sign additional agreements with Afreximbank, focusing on infrastructure development, the cotton value chain, and investments in the textile industry.

Boosting Trade and Regional Integration through AfCFTA

During his address, President Ruto also underscored the importance of deeper collaboration among Sub-Saharan countries, particularly in line with the African Continental Free Trade Area (AfCFTA) Agreement. He pointed to Afreximbank’s innovative strategies as instrumental in promoting intra-regional trade and enhancing the economic resilience of African countries.

Governor Anyang' Nyong’o of Kisumu noted that the conference was an excellent platform for discussing ways to enhance trade and advance the goals of AfCFTA. He encouraged investors to explore opportunities in Kisumu County, highlighting the region's potential to foster economic growth and create jobs.

Call for Speedy Enactment of Revenue Bills to Empower Counties

President Ruto also urged Kenya’s Parliament to expedite the enactment of the Division of Revenue and the County Allocation of Revenue Bills, which were recently the subject of mediation talks. He expressed the need to conclude this process promptly so that counties can carry out their mandates without unnecessary delays.

“We want to conclude that exercise so that counties can execute their mandate without unnecessary roadblocks,” President Ruto said.

Reforms and Economic Development in Kenya

In his address to the people of Kondele and Kisumu City, President Ruto reaffirmed his commitment to national unity and the government’s transformative agenda. He highlighted key achievements, including the successful sugar sector reforms, which have led to increased productivity and the elimination of sugar imports. Additionally, the President noted that maize production in the country had risen, with the government promising continued support to farmers.

The President also emphasized the government's push towards universal health coverage, stating that every Kenyan, regardless of income, would have medical insurance coverage under the Social Health Authority. "Under the new universal health coverage program, every citizen will access healthcare. For those unable to pay, the government will cover the costs," he assured the public.

Investment in the Blue Economy and Nyanza’s Growth Potential

President Ruto highlighted the government’s commitment to investing in the blue economy, particularly in the Nyanza region. He called for an end to fish imports and stressed the need for local fish production. “We must stop importing fish and instead produce our fish,” he said, underscoring the potential of the blue economy in driving economic growth in the region.

National Unity and Support for President’s Agenda

Governor Gladys Wanga of Homa Bay pledged her support for President Ruto’s call for national unity and cooperation in driving the country’s development. The President’s message resonated across various leaders and stakeholders, setting a clear vision for the country’s progress in the coming years.

Promoting Regional Cooperation and Cross-border Trade

Afreximbank President Benedict Oramah also addressed the conference, reiterating the bank’s commitment to advancing AfCFTA objectives through cross-country cooperation. He called on African nations to eliminate visa restrictions to facilitate the free movement of people, goods, and services across borders. "Animals need no visa to cross our borders," Oramah quipped, highlighting the need for greater regional integration.

The event was attended by key figures including National Treasury Cabinet Secretary John Mbadi, Governors Anyang’ Nyong’o (Kisumu), Ken Lusaka (Bungoma), James Orengo (Siaya), and Gladys Wanga (Homa Bay), along with Afreximbank officials and representatives from the United Cities and Local Governments of Africa.

This landmark conference in Kisumu reaffirmed the importance of African institutions, regional integration, and strategic partnerships in advancing the continent’s economic agenda. President Ruto’s call for continued investment and collaboration underscores the importance of a united approach in overcoming Africa’s challenges and building a more prosperous future for its people.