Emmanuel Macron supports a reform of global governance
Present in Nairobi, Emmanuel Macron assured that France supported African demands concerning better representation of the continent within international institutions. The French president also pleaded for a reinforced presence of Africa in global financial bodies. The two leaders wish to bring together a reform of the international financial architecture, notably during the next G7 summit scheduled for June in Évian. Â
Un système financier jugé “structurellement inégalâ€Â
William Ruto also criticized the imbalances in the global economic system, citing excessively high borrowing costs, limited access to financing and rating systems unfavorable to African economies. According to him, these mechanisms slow down investments and limit the continent’s capacity to finance its infrastructure, its industrialization and its economic transformation. The Kenyan president estimated that Africa must mobilize more of its own financial resources to support its development.
The times before us demand strong cooperation, renewed multilateralism and partnerships grounded not in hierarchy, but mutual respect and shared responsibility.
It is in this spirit that we convened this summit in our shared conviction that enduring partnerships must not be… pic.twitter.com/9cn6pvKzYZ
— William Samoei Ruto, PhD (@WilliamsRuto) May 12,
 “Africa must finance Africa†Â
The Kenyan head of state stressed that the continent has significant untapped capital reserves, citing more than $4,000 billion in long-term savings. For William Ruto, neither the World Bank nor the International Monetary Fund can, on their own, meet the needs of the continent. He also insisted on the need to accelerate African economic integration through the African Continental Free Trade Area (Zlecaf) and the development of transport and logistics infrastructure.
We are taking deliberate steps to strengthen our pharmaceutical ecosystem. This includes enhancing the capacity of our National Regulatory Authority to achieve World Health Organisation Maturity Level 3, thereby reinforcing global confidence in the quality, safety, and efficacy… pic.twitter.com/mEnDMZfnp3
— William Samoei Ruto, PhD (@WilliamsRuto) May 12,
Africa presented as “part of the solution†Â
William Ruto finally insisted on the strategic role of the continent in the global energy transition. Mineral resources, renewable energy potential, agricultural land and young demographics make Africa, according to him, an essential player in the global economy of tomorrow.“The energy transition must also be a transition towards development and industrialization…a-t-il affirmé.Â
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