President William Ruto is encouraging European investors to consider the abundant investment opportunities available in Africa.
Ruto highlighted the continent’s untapped resources, describing Africa as a land of immense potential and significant opportunities for growth.
Speaking at the European Corporate Council on Africa and the Middle East (ECAM) dinner in Rome, Italy, President Ruto emphasized that investing in Africa is a wise business decision.
He asserted, “If you are looking at the future and you are not looking in the direction of Africa, then you are looking in the wrong place.
The future is in Africa.”
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Ruto underscored Africa’s status as having the largest renewable energy assets globally, positioning it as an ideal green industrial hub.
Additionally, he emphasized the continent’s possession of crucial minerals necessary for the global energy transition.
Highlighting Africa’s agricultural potential, Ruto pointed out that the continent holds two-thirds of the world’s arable land, presenting significant opportunities for agricultural production to sustain itself and contribute to global food needs.
He also noted that Africa boasts the world’s youngest population, with over 70% under the age of 30.
By 2050, he projected that a quarter of the world’s population would reside in Africa, making it a lucrative market for investment.
However, President Ruto acknowledged that unlocking Africa’s potential requires the right technologies and financial support.
He called on Europe to contribute its technological expertise to facilitate the realization of Africa’s vast resources, emphasizing the potential for a mutually beneficial partnership.
President Ruto highlighted the significance of the Italy-Africa Summit, the first of its kind, as evidence that Africa is shedding the outdated stereotype of being a “dark continent.
During his two-day visit to Italy, Ruto addressed the summit, focusing on key areas such as food security, vocational training, energy, and infrastructure development.
In his meetings with Italian leaders, including President Sergio Mattarella and Prime Minister Giorgia Meloni, President Ruto discussed Kenya’s proposal for Italy to use its G7 presidency to advocate for reforms in the international financial system.
Additionally, he engaged with international organizations such as the World Bank Group, the Food and Agricultural Organization, the World Food Programme, and the International Monetary Fund, seeking support for Africa’s development.
President Ruto’s diplomatic efforts aim to foster collaboration between Europe and Africa, paving the way for a win-win outcome that benefits both continents and the global community.
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