President William Ruto has detailed how Africa is increasingly positioned as a central driver of global prosperity.
Speaking in France during an interview, where he is representing the African continent at the G7 summit, the Head of State emphasized that Africa’s economic future is anchored in its rich natural resources and renewable energy.
“We have huge natural resources that can be used, including critical minerals that are necessary for energy transition. We have vast resources of renewable energy from wind, solar, geothermal, hydro, that again are important for the world’s prosperity,” said Ruto.
Africa as an Opportunity in the Global Economy
Ruto defended Africa as a continent of opportunity rather than a liability, challenging the perceptions that frame Africa as dependent.
Also Read: Wicknell Chivayo: Zimbabwean Businessman and Ruto’s Buddy at the Center of KSh375 Billion JKIA Deal
He underscored that Africa possesses vast natural resources essential in powering global economic growth.
“The huge potential and Africa’s contribution to global prosperity. And let me say this, Africa is not a problem to be solved. Africa is an asset. Africa is an opportunity. Africa is not anybody’s liability. Africa can actually significantly and will significantly contribute to global prosperity,” said Ruto.
According to Ruto, Africa is an opportunity, not a problem, and can make significant contributions to global economic growth across several sectors.
The President further stressed Africa’s role in global food systems, warning that long-term food security cannot be achieved without fully tapping Africa’s agricultural capacity.
He also highlighted Africa’s demographic transformation, saying it will reshape global labor markets, consumption patterns, and economic planning over the coming decades.
According to the Head of State, in the coming years, a large share of the global workforce will be living in Africa due to its population.
Strengthening Africa’s Financial Independence
Ruto has outlined plans to strengthen Africa’s financial independence by building stronger continental institutions to unlock access to global capital markets.
He noted that Africa is already advancing the creation of multilateral financial institutions to act as guarantors, hence improving credibility and reducing the cost of international borrowing.
Also Read: How Counties Will Share Ksh428 Billion Bonanza as Ruto Signs Key Revenue Bill
Ruto emphasized that Africa’s economic challenge is not a lack of capital, but the absence of effective systems to mobilize and deploy existing resources for development.
He pointed out that the continent already holds significant domestic financial reserves spread across pension funds, insurance schemes, and central bank holdings.
He further explained that much of its reserves remain underutilized due to structural inefficiencies and limited investment channels.
According to him, unlocking these funds requires better coordination, improved financial instruments, and stronger institutional frameworks to channel domestic savings into productive investments.
“And there are mechanisms that we can de-risk. Whatever it is that people think is a risk in Africa. There are African multilateral financial institutions that we are building that now can act as guarantors for us to access those resources. Number two, we are also very clear that Africa does not lack capital. We have four trillion dollars, for example, in domestic resources, in pension funds, in insurance resources, in central bank reserves. What is lacking is the mechanism to mobilize these resources. We will be promoting to partners here how those resources can be mobilized to drive African growth. And we will be asking for a win-win outcome,” he added.
Follow our WhatsApp Channel and X Account for real-time news updates.
