The meeting, held on the sidelines of the 38th Ordinary Session of the Assembly of Heads of State and Government, was about establishing the Africa Credit Rating Agency.
Some of the Presidents present include Abdelmadjid Tebboune of Algeria, Taye Atske of Ethiopia and Hakinde Hichelemaof Zambia.
"Africa will no longer accept being misjudged by the scales of global credit rating agencies that overlook our reality," Ruto said.
Ruto spoke about reliance on flawed models, outdated assumptions and systemic bias.
"These agencies have painted an unfair picture of our economies, leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs."
Ruto said the establishment of an Africa Credit Rating Agency, backed by credible data that accurately reflects Africa’s reality, will unlock the much-needed finance to fund the continent’s development programmes and bring meaningful change to the people.
Ruto has been in Ethiopia supporting former Prime Minister Raila Odinga in his pursuit of the African Union Commission (AUC) chair.
Ruto commended the outgoing AUC chairman Moussa Faki for his exceptional work during his tenure in that office.
