Speaking on Tuesday, May 12, during the Africa Forward Summit held in Nairobi, the Kenyan leader said Africa could no longer rely on donor funding as the primary driver of growth and transformation.
He argued that the continent must embrace self-reliance and create sustainable economic systems capable of meeting the needs of its rapidly growing population.
Ruto said while development aid had played a role in supporting African economies over the years, it was insufficient to address the scale of challenges facing the continent, including infrastructure gaps, unemployment, climate change, and industrialization.
“Aid alone cannot finance Africa’s future,” the President told delegates attending the summit. “The time has come for Africa to build stronger economies through investment, innovation, entrepreneurship, and effective mobilization of domestic resources.”
The Africa Forward Summit brought together heads of state, policymakers, investors, and development partners to discuss strategies for accelerating economic transformation across the continent.
The discussions focused on trade, industrialization, digital transformation, green energy, and financing development projects within Africa.
Also Read
Ruto emphasized the need for African countries to strengthen tax systems, improve governance, and encourage private sector participation in economic development.
He noted that attracting investment and supporting local enterprises would be key in creating jobs and reducing poverty.
The President also highlighted the importance of empowering young people through education, technology, and entrepreneurship.
He said Africa’s youthful population represented a major opportunity for innovation and economic growth if properly supported.
According to Ruto, African nations must also deepen regional integration and trade through initiatives such as the African Continental Free Trade Area (AfCFTA), which seeks to boost intra-African commerce and reduce reliance on external markets.
His remarks come amid growing concerns across the continent about rising debt levels, declining donor support, and economic pressures caused by global financial instability.
Several African leaders at the summit echoed the need for homegrown solutions and stronger collaboration among African nations.
Observers say Ruto’s message reflects a broader shift among African governments seeking to reposition the continent as a destination for investment rather than aid dependency.
The summit continues in Nairobi with further discussions expected on infrastructure financing, energy transition, digital economies, and strengthening Africa’s role in global trade and investment.
