Ruto Calls for New Africa Investment Order at Nairobi Summit
News Updated: 11 May 2026 22:10 EAT
President William Samoei Ruto engages his France Counterpart President Emmanuel Macron
President William Ruto on Monday used the Africa Forward Summit 2026 in Nairobi to call for a new era of investment-driven partnerships between Africa and global powers, declaring that the continent no longer wants relationships built on aid and dependency.
“We gather here in Nairobi at a very defining moment for this continent of ours and for the future of global partnership.”
Speaking alongside French President Emmanuel Macron, Ruto welcomed heads of state, investors, innovators and business leaders attending the summit, describing Nairobi as a strategic diplomatic and economic hub in the Global South.
“On behalf of the government and people of Kenya, I warmly welcome all of you to this city of Nairobi. Welcome.”
The President said the summit was built on the success of the Inspire and Connect Business Forum, which he noted had already generated major engagements between African and French investors and policymakers.
“We have witnessed connections. We have witnessed exchange. We have witnessed the power of culture, sports, enterprise and people-to-people engagement coming together to reflect the growing dynamism of Africa-France cooperation.”
Ruto stated that the summit had reaffirmed a common commitment between Africa and France to deepen trade, strengthen investment and build stronger people-to-people relations.
“These interactions have reaffirmed our shared commitment to deepen economic collaboration, expand trade and investment, strengthen cultural ties and advance a partnership grounded in mutual respect, shared prosperity and common ambition.”
The Head of State said discussions at the summit had demonstrated that opportunities for Africa-France cooperation remained enormous and transformative.
“The opportunities for collaboration between Africa and France are immense, diverse and transformational.”
Ruto argued that Africa was increasingly emerging as one of the world’s most attractive investment destinations because of stronger economic growth, infrastructure expansion and a youthful population.
“Africa continues to consolidate its position as one of the world’s most attractive investment destinations supported by improving macroeconomic fundamentals and sustained economic growth.”
According to the President, Africa recorded economic growth of 4.2 percent in 2025, up from 3.5 percent in 2024, driven by increasing investment flows and domestic demand.
“This progress is being driven by stronger macroeconomic stability, expanding domestic demand, infrastructure development, increasing investment flows, demographic strength that we have in our young people.”
Ruto also highlighted Africa’s natural resources and expanding industrial capacity as major strengths in the evolving global economy.
“Together, these factors are enhancing the continent’s competitiveness and reinforcing Africa’s emergence as a strategic frontier for global business, industrial expansion and long-term growth.”
The President recounted remarks made by a young participant during a youth summit held earlier alongside Macron at the same venue.
“One young person said, ‘It’s no longer looking west or looking east. It’s looking forward and forward is actually looking south.’”
He said Nairobi’s position as a diplomatic centre of the Global South reflected Africa’s growing importance in shaping future global conversations.
“And I guess that’s why we are in this great city of Nairobi, one of the diplomatic hubs in the global south.”
Ruto further emphasized the importance of the African Continental Free Trade Area and regional blocs such as the East African Community, COMESA and SADC.
“Regional economic blocks including the East African Community, COMESA and SADC under the tripartite framework present extraordinary opportunities for investment, industrial expansion and regional value chain development.”
He noted that the regional blocs collectively represent more than 800 million people across 29 countries and account for nearly 60 percent of Africa’s GDP.
“This is not only a market of scale, it is a market of momentum.”
Ruto said global supply chains and investment flows were rapidly shifting, placing Africa at the center of emerging economic transformations.
“The global economy is undergoing profound realignment. Supply chains are shifting. Capital is repositioning itself.”
The President added that Kenya’s strategic location, youthful workforce and green energy infrastructure had strengthened the country’s integration into global value chains.
“Our strategic location, vibrant private sector, improving macroeconomic environment, youthful and innovative workforce, and expanding green energy infrastructure continue to strengthen Africa’s integration into global value chains.”
Ruto also highlighted Kenya’s progress in developing export processing zones and special economic zones aimed at attracting more investors.
“Kenya in particular has made significant progress in expanding export processing zones and special economic zones that continue to provide attractive incentives for investors.”
He announced that Kenya had liberalized its foreign exchange regime to allow investors to repatriate all profits while creating innovative financing opportunities.
“We have also liberalized our foreign exchange regime, enabling investors to repatriate 100% of their profits.”
The President said African leaders were now pushing for reforms to the global financial architecture, including fairer representation in Bretton Woods institutions and improved credit rating systems for African economies.
“We want a functioning, representative, fair international financial architecture. One that recognizes our opportunities.”
Ruto criticized existing global credit rating mechanisms, arguing they unfairly disadvantage African economies despite the continent’s growth potential.
“We want a fair credit rating mechanism that does not disadvantage our economies.”
The Kenyan leader praised Macron for what he termed a courageous recalibration of France’s relationship with Africa and called for a balanced investment-based partnership moving forward.
“What we are doing as leaders in this continent is not to look for aid anymore, is not to look for loans anymore. We want to have a balanced conversation.”
Ruto insisted that Africa possesses the resources, talent and ideas necessary to drive its own transformation agenda.
“We have ideas, we have resources, we have assets, we have our human resource and we are ready to engage in a manner that is beneficial to France and is beneficial to us.”
He also stressed that Africa no longer wanted one-sided international relationships and applauded the decision to host the summit in an anglophone African country.
“We no longer want a relationship that is one-sided. This France-Africa summit in Nairobi is different. We are shifting.”
The President further challenged African pension funds, insurance firms and private investors to finance infrastructure projects across the continent instead of depending heavily on foreign lenders.
“You guys have a lot of money and we are stranded in government with a lot of money in projects.”
Ruto disclosed that Kenya had already established a National Infrastructure Fund with an initial $1 billion and plans to raise an additional $2 billion to support development projects.
“We want to leverage the $3 billion that we are going to put in that fund to raise $30 billion to run our infrastructure programs.”
He announced plans for a major East African oil refinery project involving Kenya, Uganda and Tanzania in partnership with Nigerian billionaire Aliko Dangote and other investors.
“We have an infrastructure project for the development of an East African refinery.”
Ruto said the refinery project, estimated at between $16 billion and $20 billion, would help East Africa reduce dependence on external fuel supply chains and geopolitical instability.
“We do not want to be held hostage anymore by wars that are started by other people.”
The President concluded by inviting private investors to participate in Kenya’s planned $1.5 billion airport expansion project in Nairobi under a public-private partnership framework.
“Government of Kenya is going to put in 20%, bring the rest of the money. Let’s build the airport and everybody makes money.”
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FELIX MAKONA
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