On November 30, 2025, during the three-day AERC Research and Policy Summit 2025, National Treasury Cabinet Secretary John Mbadi explained how Kenya can chart its own path to sustainable economic growth without relying on foreign aid.
According to a press release, through a speech read by his PS, Bonface Barasa Makokha CS, urged the delegates to focus on reclaiming the narrative of Africa’s economic prosperity, moving beyond externally dictated policies.
“Today, we must reclaim our narrative. We must define development not merely as GDP growth, but as inclusive prosperity, resilient systems, and dignified livelihoods. Africa’s Moment is Now: Let us not be defined by our challenges, but by our courage. Let us not inherit development models—we must invent them to deliver Africa’s economic prosperity,” CS Mbadi said.
Mbadi Explains How Kenya Can Chart Its Own Path Without Relying on Foreign Aid
CS Mbadi highlighted that Africa must embrace self-reliance, innovation, and the utilization of local resources.
“What we need is not more aid, but more courage to harness what we already have. This is not just about money—it is about dignity. Generating our own resources means charting our own destiny, setting our own priorities, and building resilience against global shocks,” the speech read.
He added that Kenya, like other African countries, is rich in human talent, fertile land, digital creativity, and entrepreneurial spirit, and that leveraging these resources is key to sustainable growth. He argued that Kenya is not short of resources.
Mbadi’s Vision for Africa on Inclusive Growth Over GDP
CS Mbadi stressed that development should not be measured solely by GDP growth, but by inclusive prosperity, resilient systems, and dignified livelihoods.
However, he encouraged delegates to redefine success in Africa in terms of the well-being and dignity of its people, rather than externally imposed metrics.
“Africa’s Moment is Now: Let us not be defined by our challenges, but by our courage,”read part of the speech
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The National Treasury Chief further argued that Africa must move away from dependence on foreign aid, instead focus on self-reliance, innovation, and local resource mobilization.
Let us not inherit development models—we must invent them to deliver Africa’s economic prosperity,” read the speech
AERC Summit 2025: Platform for Policy and Research Leadership
The AERC Research and Policy Summit 2025 brought together economists, policymakers, scholars, private sector leaders, and development partners from across Africa.
According to Executive Director Prof. Victor Murinde, the summit was to foster stakeholder engagement while addressing pressing macroeconomic and development challenges.
“Through the integration of research excellence, mentorship, and capacity building, the AERC aims to nurture a new generation of African economists ready to conduct frontier research, lead economic policy engagement, and drive sustainable development across Africa,” read prof Victor.
During the summit, AERC unveiled its African Private Sector Platform (APSP), an initiative designed to strengthen collaboration between researchers and Africa’s private sector.
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AERC Board Chair Prof. Ernest Aryeetey said the platform will scale up private-sector-led economic transformation across the continent.
“The launch of the APSP provides a structured avenue for collaboration with industry, enabling evidence-informed advocacy and unlocking new opportunities for innovation and competitiveness across Africa,” he said.
About the African Economic Research Consortium (AERC)
The AERC is a leader in policy-oriented economic research on the continent, and its biannual research workshops have become the largest gathering of professional economists in sub-Saharan Africa.
It was established in 1988 as a public not-for-profit organization devoted to building capacity for economic policy research into problems pertinent to the management of economies in sub-Saharan Africa.
The AERC is a network that builds capacity through three primary components: research, graduate training in economics, and communications and policy outreach.
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