President William Ruto has called on African nations to build their own financing models for key areas such as health innovation and food security.
Ruto said Africa can no longer depend on traditional multilateral resource mobilisation systems, which have often failed to deliver.
“As the African Union Champion for Institutional Reform, I am committed to asking the hard questions about how our continent can attract investment in social sectors like healthcare,” he said.
The President said Africa must stop relying on external aid and the uncertain priorities of other regions when it comes to crucial issues such as healthcare.
He added that Africa’s rise depends on ensuring the continent has access to capital that can build the health infrastructure needed.
“Our continent has often been at the forefront of global struggles, and the recent pandemic reminded us of our resilience. Yet, we must move beyond surviving crises and take deliberate steps towards shaping our future,” he added.
Ruto spoke on Monday at the launch of the Programme for Investment and Financing in Africa’s Health (PIFAH) Initiative in New York, US.
The Head of State added that it is heartening to see partnerships emerge that promise to equip every African with an AI-powered Digital Health Wallet and each African country with the tools to attract biopharma research and production of medicines, vaccines, and medical devices locally.
He said initiatives like PanaBIOS, ProPer, and the Purpose Africa Clinical Research Programme stand as milestones in Africa’s journey toward becoming a global innovation powerhouse.
“However, none of this can be sustained without rethinking how we fund these initiatives,” he stated.
Ruto commended the African Union's AUDA-NEPAD for laying the groundwork with the Programme for Investment and Financing in Africa's Health Sector.
“I want to recognise the efforts of AUDA-NEPAD in developing the Program for Investment and Financing in Africa’s Health (PIFAH). Alongside AU agencies, AfroChampions, and Purpose Africa, PIFAH is laying the groundwork for unlocking vast resources from the private sector,” he added.
