Summit billions, little relief: economist questions Africa Forward gains

Kenya may leave the Africa Forward Summit with political gains for its leaders but little relief for struggling households, economist XN Iraki has warned...

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Economist XN Iraki has cautioned that Kenya may gain political mileage from the Africa Forward Summit but offer little immediate economic relief to its citizens.

The summit, co-hosted by Presidents William Ruto and Emmanuel Macron, mobilized an estimated €23 billion (approx. Sh3.5 trillion) in investments for Africa.
Iraki suggested France's significant investment was driven by its need for new allies in Africa, particularly in English-speaking nations, following setbacks in West Africa.
He argued that both leaders used the summit to deflect from domestic economic pressures and that issues like tax pressure, ballooning budgets, and reliance on external credit remain unaddressed for Kenya.

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