President William Ruto has announced a bold plan to raise $10 billion for artificial intelligence (AI) in Africa by 2035, noting that the project could create as many as 40 million jobs on the continent.
The head of state made remarks while making his presentation at the Growing Together through Partnership Forum in Italy on the second day of his three-day state visit.
With the aim of positioning the country as Africa’s AI investment hub After having obtained several bilateral agreements during the first day of his visit which were intended to deepen Nairobi-Rome relations over the next three years, President Ruto took advantage of the forum to attract more investors and policy influencers to Kenya and Africa.
Relying on the opportunities presented by the African Continental Free Trade Area (AfCFTA), he explained that the agreement is a solid basis for investment, innovation, and trade expansion across the continent.
President Ruto said Artificial intelligence will be the main driver of Africa’s economic transformation, and Kenya is setting itself up as the leading in global investment.
Building on the 103 billion shillings in venture capital raised in 2025, Kenya now wants what the president called “patient capital” for supporting long-term investments in innovation.
The government is looking to invest about 750 million shillings in AI startups that are locally developed, with an emphasis on growing indigenous technological solutions and supporting youth-led enterprises.
President Ruto invited Italian investors to lead the co-investment through Nairobi’s International Financial Centre, which he said, is a major platform for enabling sustainable investments and widening partnerships.
Later, President Ruto met with Lorenzo Fontana, President of the Chamber of Deputies, the lower house of Italy’s bicameral parliament, in the course of ongoing diplomatic engagements during the visit.
“We agreed to deepen the engagement between of our legislators to facilitate the implementation of cooperation agreements between Kenya and Italy, including the eight MoUs signed on Monday.” said Ruto
The talks are likely to enhance parliamentary cooperation and strengthen Kenya’s wider economic and political partnership with Italy.
President Ruto’s state visit is set to deepen trade investment infrastructure cooperation and strategic partnerships between the two
