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Originally published by Citizen DigitalOctober 9, 2025
5h ago
President Ruto takes over as COMESA chair, announces Ksh.12.9B boost to African financial institutions
He said Kenya had also committed $50 million (Ksh.6.5 billion) to Afreximbank as share capital, demonstrating the country's commitment to empowering African financial institutions......
✨ Key Highlights
President William Ruto of Kenya assumed the chairmanship of COMESA, announcing a significant financial boost to African institutions and advocating for deeper continental integration. Kenya increased its shareholding in the Trade and Development Bank (TDB) and committed funds to Afreximbank, highlighting a move towards strengthening homegrown financial entities.
- Kenya increased its shareholding in the TDB by $100 million (Ksh.12.9 billion) and committed $50 million (Ksh.6.5 billion) to Afreximbank.
- The announcement was made during the 24th COMESA Summit of Heads of State and Government at the Kenyatta International Convention Centre in Nairobi.
- President Ruto urged African nations to remove visa restrictions, noting that intra-African trade is only 14 per cent, compared to 70 per cent in Europe.
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