President Ruto has called on the US to build a stronger relationship and review its economic partnership with Africa, insisting on the need to regard the continent as an investment destination, not just as a market for finished goods.
Speaking at the US-Africa Leaders’ Summit themed “The Future of Africa’s Trade and Investment”, President Ruto also used the opportunity to position Kenya as one of the most favorable investment destinations for the abundant US capital.
“While the US has huge capital potential, Africa has capital and population that the US can invest in and produce within Africa for Africa. America should be exporting the resources to Africa and combining the resources and opportunities that the collaboration can present,” President Ruto said.
The President further urged the US to take advantage of Africa’s huge population, prospects under the African Continental Free Trade Area (AfCFTA), which is on the cusp of taking off, and availability of labour and green energy potential.
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Ruto also commended Kenya, highlighting its competitive advantage as a maturing constitutional democracy with a well-developed financial and commercial ecosystem.
Ruto was later hosted at a high-level round table at Arizona State University’s Thunderbird School of Management, on innovating, accelerating, and scaling the Konza Technopolis also known as the Silicon Savannah.
“During the meeting, the leaders committed to work with Kenya to advance space technology, to collaborate towards the establishment of robust Kenya Creative Industries and to work with Kenya towards Climate Innovations and carbon trading technologies,” read a statement from State House Spokesperson Hussein Mohamed.