President William Ruto has rooted for the setting up of the Africa Economic Summit, which would chart the continent’s development path.
Speaking at the 37th Ordinary Session of the Assembly of the African Union in Addis Ababa, Ethiopia, Ruto said the summit would then invite friends, countries from other parts of the world, corporations and philanthropists to give their views.
Ruto, who is now the African Union Champion for Institutional Reforms said the summit would be held on an annual basis in the continent.
"We will not have to go to all manner of capitals-invited- to try and discuss our development," he said.
"It is fair, it is better if we can discuss it here at home, fashioned in the way we think best it should be."
Brazilian President Luiz Inacio Lula da Silva is in Ethiopia as a guest speaker at the meeting.
Brazil is the current G20 Chair and has committed to supporting Africa's development agenda.
The G20 brings together the world's major and systemically important economies. Its members represent 85 per cent of global GDP, 75 per cent of international trade and two-thirds of the world's population.
The forum has met every year since its inception in 1999 after the Global Financial Crisis of 1997-98, with leaders meeting for an annual G20 Leaders’ Summit since 2008.
Members are the European Union, the AU, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States.
Ruto has called for reform of the global financial system saying it is an urgent agenda for Africa and the entire Global South.
He stated that Africa is not seeking special treatment but simply calling for fairness, especially in the wake of climate change and other global challenges.