• According to Ruto, investing in Africa's future is the best investments decision they could make now.
• The President insisted that it also guarantees them immediate and long term returns.
Image: PCS
President William Ruto on Friday urged investors to focus their investment on the African Continent.
President Ruto said investing in Africa's future is the best investments decision they could make now.
Ruto was speaking during the opening of the Connected Africa Summit 2024, at Uhuru Gardens in Nairobi.
The President insisted that it also guarantees them immediate and long term returns.
Ruto noted that any serious investor out there who is not thinking about Africa needs to relook their strategy.
"I wish to emphasise to the global community, and especially financial institutions and private sector investors that betting on Africa's future now is the best investment decision with unprecedented immediate and long-term benefits," President Ruto said.
"I wish somebody was listening to me. Any serious investor who does not have his focus on the African Continent has some correction to make," Ruto said.
The Head of State added that the continent has worked together to develop policy and regulations, which have become fundamental enablers of Africa's digital transformation.
"That is why I'm very glad to have ministers in this meeting," Ruto said.
The President said that the biggest hinderance to the continent's growth has been the economic separations witnessed in the past.
He said that it is now the reason Africa is moving towards working as a single market when trading with the outside world.
"The biggest threat to Africa's progress is the fragmentation of our economy and that is why we are effectively assembling ourselves into a coherent, cohesive one market under the Africa Continental Free trade area," the President said.
The Connected Africa Summit, 2024 began on Monday and is scheduled to close on April 25.
It has brought together representatives from various sectors including government, embassies and the private sector from across Africa and Europe.
The summit aims to underscore the relevance of the digital economy in driving economic growth and development.
It will provide an opportunity for African leaders, investors and businesses to come together and harness the vast opportunities presented by the digital economy while addressing barriers and pressing issues affecting our economies.
The summit also aims to promote greater collaboration and fuel investment towards the achievement of the Africa’s Digital Agenda 2063 and Vision 2030.