President William Ruto has called on African commercial and development finance institutions to increase funding for green and environmentally friendly industrialization, describing it as a vital step in tackling climate change and driving sustainable development on the continent.
Speaking at a high-level consultative meeting on the Africa Green Industrialization Initiative held at State House, Nairobi, President Ruto emphasized the urgency for Africa to leverage its own financial institutions to catalyze green economic transformation.
The meeting came just days after the continent joined the rest of the world in marking World Environment Day.โAs the global economic and trade landscape undergoes major shifts, Africa must look inward for solutions. Our financial institutions must rise to the occasion and support the green economy with the seriousness it deserves,โ Ruto stated.
The President, who also chairs the Committee of African Union Heads of State and Government on Climate Change (CAHOSCC), underscored that while Africa is rich in industrialization and climate-related initiatives, the continent continues to lag in producing tangible outcomes.
He pointed to a gap between policy commitments and real progress on the ground.โAfrica is not short of ideas or initiatives. What we lack is implementation and results. It is time we translate our commitments into measurable action,โ he urged.
The head of state further cautioned African commercial and development banks against portraying the continent as a high-risk investment destination in international forums. He criticized such narratives as harmful stereotypes that undermine Africaโs potential and discourage critical investment.โWe must stop profiling ourselves negatively. Such messaging only serves to hold us back. Africa has opportunities โ what we need is confidence and commitment to invest in our future,โ he said.
The Africa Green Industrialization Initiative aims to accelerate the continentโs transition to low-carbon, climate-resilient industrial development, while also creating jobs and enhancing energy security.
President Rutoโs remarks come at a time when global attention is increasingly focused on the role of finance in climate action and the need for developing nations to chart their own pathways.
