President William Ruto has called on the US to review its economic partnership with Africa, saying the continent must be regarded as an investment destination, not a trade destination market for manufactured goods.
The President who addressed the US-Africa Summit on The Future of Africa’s Trade and Investment called on the US to take advantage of Africa’s huge population, availability of labour and green energy potential to drive prosperity on a global scale.
President Ruto also used the opportunity to position Kenya as one of the ideal investment countries for the US touting its maturing constitutional democracy and well-developed financial and commercial ecosystem.
The President, later, was hosted at a high-level roundtable at Arizona State University’s Thunderbird School of Management on innovating, accelerating, and scaling the Konza Technopolis. The roundtable brought together corporate executives and stakeholders across various sectors.
Critical announcements made include:
- Commitment to working with Kenya to advance space technology
- Commitment to collaborate towards the establishment of robust Kenya Creative Industries
- Commitments to working with Kenya towards climate innovations/ carbon removal collaborations and carbon trading technologies.
- Commitment to mobilizing the network to extend research for the ethical and responsible deployment of ocean-based carbon-dioxide reduction.
- Commitments to direct air capture, carbon products and waste-to-energy solutions.
- Commitment to host the Kauffman Fellow Africa Venture Capital Summit in Kenya Sept 2023, bringing 300 of the world’s top venture capitalists to Nairobi.