Africa told to cut aid dependence at AERC Summit
NAIROBI, Kenya, Nov 30 - African governments must urgently shift away from donor-dependent development models and build stronger domestic financing Kenya breaking news | Kenya news today |..
✨ Key Highlights
African nations are urged to reduce their dependence on foreign aid and strengthen domestic financing at the AERC Research and Policy Summit in Nairobi. Economists and policymakers emphasized the need for a shift away from donor-dependent development models to foster economic independence and resilience.
- National Treasury Cabinet Secretary John Mbadi stated that Africa's development should not rely on external goodwill.
- The African Economic Research Consortium (AERC) launched the African Private Sector Platform (APSP) to integrate industry players into policy discussions and expand development financing beyond governments and donors.
- The three-day summit is addressing macroeconomic challenges, policy coordination, and structural reforms to build long-term economic resilience across East, West, and Southern Africa.
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Kenya Probes KUSCCO Housing as Real Estate Project is Awarded and Economic Summit Convenes - November 2025
The Kenyan government has ordered a formal probe into the KUSCCO Housing Co-operative Society Limited following complaints that it was used to siphon savings from affiliated SACCOs. A Gazette notice dated October 28, 2025, mandated the inquiry to scrutinize the society's operations and the conduct of its officials. In other real estate news, GulfCap Real Estate has been honored by the Kenya Professional Realtors Association (KPRA) for developing the best affordable housing project. The award was given for their Buxton Point urban renewal project in Mombasa. Separately, at the AERC Research and Policy Summit in Nairobi, economists and policymakers urged African nations to reduce their dependence on foreign aid. The summit emphasized the need for a shift away from donor-dependent development models to strengthen domestic financing and foster economic independence.
