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Originally published by The Standardtop
May 12, 2026
2h ago
Africa should not rely on aid for development, Ruto says
“Africa is not part of the global problem. Africa is, in fact, part of the solution to the global challenges that exist today."..
✨ Key Highlights
At the Africa Forward Summit in Nairobi on May 12, 2026, President William Ruto declared that Africa must shift its development focus from foreign aid to investment, innovation, and local resource mobilization.
- President William Ruto emphasized that lasting partnerships should be built on sovereign equality and mutually beneficial investments, not dependency.
- He called for increased investment in innovation, strategic partnerships, and domestic financing mechanisms, particularly leveraging local savings and pension funds.
- Ruto also criticized the international financial system for high borrowing costs and unfair risk assessments, advocating for an Africa Credit Rating Agency.
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