President William Ruto has called for a shift from aid-based development to investment, value addition and mutually beneficial partnerships to drive Africa's economic transformation.
Speaking at the European Corporate Council on Africa and the Middle East (ECAM Council) Summit in New York on Thursday, on the sidelines of the 81st United Nations General Assembly, Ruto said Africa's future must be built on economic independence and sustainable partnerships.
“The foundation of tomorrow's economy must rest on partnership, not dependency. On investment, not aid. On shared prosperity, not extraction,” he said.
The President identified Africa's youthful population, expanding urban centres, digital connectivity and growing consumer markets as opportunities for investment in infrastructure, healthcare, agriculture, energy, manufacturing and technology.
He said Kenya was positioning itself as a gateway to East Africa and the wider continent, citing its infrastructure, human capital, financial systems and connectivity.
Ruto also highlighted healthcare as a priority for Africa's self-reliance, drawing lessons from the COVID-19 pandemic, which exposed vulnerabilities in global supply chains.
He said more than 32 million Kenyans had registered for medical insurance under the Social Health Authority, while health facilities across the 47 counties had received 1.4 billion US dollars in the past two years.
The President further cited Kenya's partnership with Italy under the Mattei Plan for Africa, including a letter of intent between the Ministry of Health and GKSD for the construction of 15 hospitals in 15 counties at an estimated cost of 419 million US dollars.
Ruto said Kenya would welcome partnerships that create jobs, transfer technology, strengthen institutions and support long-term economic growth.
ECAM Council Executive Chairman Kamel Ghribi echoed the call for stronger partnerships, urging Africa to process its raw materials locally and export finished products to create greater value and opportunities for its people.
