Ruto Urges Africa to Finance Own Development

President William Ruto has emphasized the need for Africa to take greater responsibility for financing its development by strengthening its own financial institutions.

He urged African governments to place more of their reserves with African institutions and channel development projects through them. The President noted that Africa holds over $4 trillion in domestic financial assets, which could be utilized to fund its own projects.

President Ruto made these remarks during the 25th Summit of the Common Market for Eastern and Southern Africa (COMESA) Heads of State and Government in Harare, Zimbabwe. He also handed over the chairmanship of COMESA to Zimbabwean President Emmerson Mnangagwa.

Source: KBC Digital. AI-assisted summary.