President William Ruto has called upon African leaders to collaborate in advocating for reforms within the international financial system.
Speaking on Saturday as he addressed African leaders, he emphasized the imperative of liberating African economies from burdensome debt, which has hindered the region's overall growth.
The Head of State noted the unfair profiling of African nations, stressing the importance of fostering a more equitable global economic landscape.
“Together, we must demand responsible sovereign lending that ensures our countries get concessional resources that can help us position our continent as the epicentre of the next industrial revolution,”Ruto said.
“We cannot certainly be a continent defined by poverty, a continent defined by hunger and wars, but a continent of opportunity and investment," he added.
He was speaking after attending the State burial of the former President of Namibia, Hage Geingob at the Uhuru Stadium in Windhoek.
The President additionally advocated for reforms within the African Union, emphasizing the need to make it "fit for purpose."
He elaborated on how such reforms would enhance the continent's capability to harness its abundant renewable energy, mineral, and agricultural resources.
“We cannot be a continent defined by poverty; we must be a continent defined by opportunity, potential and investment,” Ruto added.
Last year, President Ruto also asked African leaders and Parliaments to champion the continent’s development agenda.
He asked them to implement policies and legislations that will unlock Africa’s potential and create opportunities for its people.
Ruto said Africa has the resources and opportunities necessary to drive a clean, just, and inclusive prosperity here and worldwide.
This, he explained, will include infrastructure development, and elimination of visa and trade barriers in order to stimulate free trade.
“It is the right time to engage Africa’s leaders for the purpose of mobilising a firm African position on issues that are directly connected with our collective aspirations,” Ruto added.
The Head of State argued that the leaders must advocate for reforms in the multinational financial institutions to address the debt crisis in the continent.
Ruto added that it was unfortunate that African countries have to choose between their development needs and climate action.
“It is, therefore, clear that if we do not solve the debt issue, it will be impossible to address the climate crisis," he said
