President Ruto Lauds Afreximbank’s Role in Strengthening African Institutions

KISUMU CITY, Kenya — President William Samoei Ruto has commended the African Export-Import Bank (Afreximbank) for its innovative approaches to advancing credit and fostering collaboration among Sub-Saharan countries, aligning with the objectives of the African Continental Free Trade Area (AfCFTA).

Speaking at the Fourth African Sub-Sovereign Governments Network (AfSNET) Investment Conference held in Kisumu City, President Ruto highlighted the importance of empowering African institutions to address the continent’s unique challenges effectively.

“Afreximbank continues to play a pivotal role in advancing the economic aspirations of African nations by providing financial support and promoting cross-border cooperation,” Ruto said in his address to conference participants.

We support the strengthening of African institutions because they have a deeper understanding of the unique challenges our continent faces, and are better suited to provide the appropriate solutions.

The African Export-Import Bank (Afreximbank) has consistently demonstrated… pic.twitter.com/IlQDClIHbZ

— William Samoei Ruto, PhD (@WilliamsRuto) November 26, 2024

The event brought together leaders and stakeholders from across Africa to discuss strategies for bolstering sub-sovereign governance and fostering investment. Afreximbank President Benedict Oramah was in attendance, alongside Kenya’s Treasury Cabinet Secretary John Mbadi and several governors, including Kisumu’s Anyang’ Nyong’o, Homa Bay’s Gladys Wanga, and Bungoma’s Kenneth Lusaka. Siaya Governor James Orengo and Members of Parliament were also present to deliberate on economic growth strategies for regional governments.

The conference, which supports the aspirations of AfCFTA, provided a platform for dialogue on unlocking opportunities for sub-sovereign governments to attract investments and strengthen regional economic integration.

President Ruto emphasized the potential of such initiatives in promoting development, saying, “By empowering our local governments, we can build a more prosperous Africa that meets the needs of its people.”

Kisumu City, a growing hub of innovation and trade, served as an ideal venue for the discussions, underscoring the role of regional cities in driving Africa’s economic transformation.

The event reflects Kenya’s commitment to championing regional cooperation and enhancing the role of sub-sovereign governments in shaping Africa’s economic future.

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