President William Ruto has advised African Presidents to engage in intra-continental trade to generate more opportunities for their citizens.
Ruto made these remarks during the Ninth Tokyo International Conference on African Development (TICAD 9) Plenary Session 2.
He stated that Africa’s path to economic transformation faces significant challenges, which all leaders recognise.
He pointed out that less than 18% of Africa’s exports are traded within the continent, compared to over 60% in both Europe and Asia, according to UNCTAD.
The challenge before us is not about knowing what needs to be done, but whether we have the courage and urgency to do it. Africa must trade more with itself to unlock the vast potential of our markets, open rivers of opportunity for our people, create wealth, and drive inclusive prosperity.
Ruto Calls for Investments in Agriculture
Ruto said Agriculture remains Africa’s greatest untapped engine of prosperity.
He stated that the sector employs over 60% of Africans and contributes nearly a quarter of GDP, yet its promise remains largely unrealised.
Ruto mentioned that Africa should be capable of feeding itself and the world with 65% of the remaining arable land.
He explained that this is not a failure of potential but of investment, infrastructure, and integration.
By deploying technology, financing farmers, investing in rural infrastructure, and trading more within Africa, agriculture can be transformed from subsistence to a powerful driver of industrialisation, job creation, and shared prosperity.
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He emphasised that “African trade accounts for only 14.9% of total African trade but could surge by up to 50% by 2035 according to the Africa Continental Free Trade Area (AfCFTA).”
“This would generate immense wealth, create millions of decent jobs, expand opportunities for SMEs, and open new markets for African goods and services,” he said.
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International Financial Architecture Reforms
Ruto stated that he has been a strong supporter of reforming the International Financial Architecture.
He said the current global credit rating system often overlooks Africa’s unique economic realities, unfairly penalising its countries during periods of global distress.
This must change. Progressive reforms are essential to unlock affordable, predictable, and sustainable financing for development. I therefore support the proposal to establish an Africa Credit Rating Agency, complemented by reforms in global credit rating systems to address structural inequities.
Role of the Private Sector
Additionally, he said the private sector must play a central role through effective Public-Private Partnerships (PPPs) due to the constrained fiscal space in many African countries.
He explained that a vibrant private sector brings not only capital to bridge financing gaps but also innovation, technology, and efficiency critical to sustainable growth.
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