Ruto calls for shift from aid to investment in Africa
President Ruto says Africa must attract investment, technology and skills to build industries and reduce reliance on aid. The post Ruto calls for shift from aid to investment in Africa appeared first on KBC Digital .
President William Ruto has urged a change in Africa's economic relationship with the rest of the world from reliance on development aid to fostering investment, technology transfer, and local industrialization. Addressing the ECAM Council Summit during the United Nations General Assembly, Ruto emphasized that Africa must actively shape the global economic order rather than merely benefiting from decisions made by others.
He highlighted that shrinking development assistance should compel African nations to forge partnerships aimed at job creation, industry development, and technology transfer. Ruto pointed out that the cornerstone of Africa's future economy should be built on partnership, investment, and shared prosperity rather than dependency and extraction.
Citing Africa's youthful population, expanding urban centers, increasing digital connectivity, and burgeoning consumer market, Ruto argued that the continent presents an increasingly attractive investment prospect. He positioned Kenya as a gateway to East Africa, citing its robust infrastructure, human capital, financial systems, and connectivity.
Ruto invited investors to contribute to technology transfer, skills development, and the establishment of long-term industries. The President underscored healthcare as the economic infrastructure vital for a productive workforce, citing the government's progress under the Social Health Authority, which has registered over 32 million Kenyans and invested $1.4 billion in health facilities across the 47 counties.
More than 500,000 surgeries and treatments for over 50,000 cancer patients have been carried out, according to Ruto.
The head of state also announced a $419 million healthcare partnership with Italy and GKSD Group to develop 15 hospitals across 15 counties. Ruto stressed the importance of enhancing Africa's capacity to manufacture essential medicines and develop health supply chains, drawing lessons from the COVID-19 pandemic. He emphasized that health security cannot be outsourced; Africa must train its specialists, produce essential medicines locally, and manage its supply chains.
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