Latest news with #AfricaDebate
Business Insider
18-07-2025
- Business
- Business Insider
The messy economics of African transformation
Economic transformation is rarely smooth, and rarely easy. Across the African continent, countries are grappling with the growing pains of modernisation, industrialisation, and inclusion, all at the same time. It is a complex balancing act, and Kenya is in the midst of walking this precarious tightrope. Over the past month, Kenya has captured international headlines for two reasons: a wave of nationwide protests, led by Gen Z, and a series of major international economic engagements led by President William Ruto including his keynote address at the prestigious Africa Debate in London. On the surface, the contrast is stark, and begs the question of a disconnect between the priorities of a leader and his people. But look closer, and what emerges is a story that mirrors the broader continental reality. Whether in Kenya, Nigeria, Ghana, or South Africa, governments are working to rebuild economic systems, systems that for decades have prioritised growth without necessarily delivering equity or resilience. And change of this magnitude is never easy. The heart of Kenya's current strategy is what it calls the Bottom Up Economic Transformation Agenda. It is a plan focused on agriculture, small businesses, housing, health, and digital connectivity. These are sectors that touch the everyday life of citizens and form the base of the country's employment and productivity. Kenya is not the only country betting on this type of recalibration: in Nigeria, recent fuel subsidy reforms have stirred public debate, but were widely recognised as fiscally necessary. The country's new administration is also pursuing financial inclusion and digital payments as pillars of a broader economic reset. In Ghana, a period of economic turbulence has prompted reforms aimed at restoring debt sustainability - while accelerating local production and industrial value chains. In South Africa, efforts to scale renewable energy infrastructure are moving in parallel with investments in township economies and digital skills training. What unites these efforts is not a shared ideology but a shared set of pressures: fast growing populations, rising urbanisation, constrained fiscal space, and the need to generate meaningful employment in economies that have long been shaped by external shocks and extractive patterns. In this context, Kenya's efforts are worth watching, and while they are far from perfect, there is courage in the government's attempt to shift the logic of growth. Over 250,000 jobs have been generated through its national housing programme. The country has become a leader in mobile banking and digital finance, with over 84 percent financial inclusion. Kenya's renewable energy portfolio is one of the most developed in the region, and its Africa Green Industrialisation Initiative is drawing billions in sustainable investment. While this is admirable, the government faces the perennial problem of change simply not happening fast enough, and, at least for now, not being felt in the pockets of citizens. Rising costs, tax reforms, and implementation challenges have rightly triggered public concern. In many African countries, the tension between economic ambition and public perception is growing. Expectations are high, delivery is uneven, and trust can fray when policies, however well intended, do not immediately improve livelihoods. Equally moments of pressure often coincide with moments of evolution. Governments, private sector leaders, and development partners are being pushed to think more creatively than in recent memory. In Kenya's case, the government is actively using platforms like the Nairobi International Financial Centre to attract green and long term capital. It is working with local fintech players to expand access to credit. And it is repositioning itself within global conversations on debt, trade, and industrial development. In time, these policy moves may yet yield countrywide benefits, but asking populations under strain for patience is a challenge in and of itself. These shifts are not cosmetic. They point to a broader African trend: a move away from managing inherited structures and toward building economies that are more self-determined, more productive, and more attuned to the needs of a younger, more connected generation. The lesson is this: transformation does not look like stability. It looks like experimentation, reallocation, public debate, and policy iteration. These are not signs of dysfunction, they are the reality of systems in transition.
Business Insider
02-07-2025
- Business
- Business Insider
Kenya plans to privatise state assets to cut debt, attract capital
Kenya plans to privatise several state-owned enterprises through initial public offerings (IPOs) in a bid to attract more private sector investment. Kenya intends to privatise state-owned enterprises through IPOs to encourage private sector investment. The Kenya Pipeline Company will be listed on the Nairobi Securities Exchange by year-end. President Ruto emphasized the importance of leveraging learnings from the London Stock Exchange to strengthen domestic capital markets. Kenya plans to privatise several state-owned enterprises through initial public offerings (IPOs) in a bid to attract more private sector investment, President William Ruto said on Wednesday during a speech at the London Stock Exchange. The government will begin the process by listing the Kenya Pipeline Company on the Nairobi Securities Exchange later this year, according to Reuters. 'This will offer investors a unique opportunity to deploy capital in one of our most strategic infrastructure enterprises,' "We are committed to a structured, time-sensitive programme that identifies and prepares a robust pipeline of key government assets to be privatised through the stock exchange or improved through private sector participation," he said. President William Ruto said Kenya will continue to draw lessons from the London Stock Exchange to strengthen and revitalise the Nairobi Securities Exchange (NSE), as part of broader efforts to deepen domestic capital markets and reduce reliance on external debt. In 2023, President Ruto announced plans to privatise 35 state-owned enterprises, with an additional 100 to follow. However, in October, Kenya's High Court struck down the privatisation plans, halting the initiative. Path to financial autonomy The country has been exploring alternative funding sources since widespread protests last year forced the government to abandon proposed tax hikes totalling over 346 billion Kenyan shillings ($2.68 billion) and adopt austerity measures. Speaking separately at the Africa Debate event in London on Wednesday, Ruto cited recent disruptions, including the cancellation of USAID funding by U.S. President Donald Trump, as a catalyst for Kenya's shift toward greater financial self-reliance. ' We are working to rely on our own resources and attract private investment, rather than depending on funding we cannot control, ' he said.
Zawya
23-06-2025
- Business
- Zawya
President Ruto, Samaila Zubairu and Africa's Top Chief Executive Officer's (CEO) to Headline The Africa Debate in London
Invest Africa ( is pleased to announce Africa Finance Corporation (AFC) as Headline Partner for the 11th edition of The Africa Debate, taking place on Wednesday, 2 July 2025 at the Guildhall, in the heart of the City of London. This year's theme — "Harnessing Natural Capital for Growth" — seeks to interrogate how Africa can transform the scale and structure of investment around its most enduring assets: from its critical minerals and fertile land to its human ingenuity and demographic dynamism. Now firmly established as the UK's premier forum for Africa-focused investment dialogue, The Africa Debate will convene over 700 senior decision-makers from across government, finance, and industry for a full day of high-level exchanges. Through keynote addresses, ministerial dialogues, and curated sector debates, the programme will explore how to turn extractive advantage into structural transformation — mobilising green industrialisation, digital infrastructure, intra-African trade, and new financial instruments to drive inclusive, climate-smart growth. This year's speaker line-up reflects the extraordinary breadth of voices shaping Africa's next chapter, from heads of state to the stewards of global capital. Highlights include: H.E. William Ruto, President of the Republic of Kenya; H.E. Hailemariam Desalegn Boshe, Former Prime Minister of Ethiopia; Board Chair, TradeMark Africa; H.E. Wamkele Mene, Secretary-General, African Continental Free Trade Area Secretariat; Benedict Oramah, President, Afreximbank; Samaila Zubairu, President&CEO, Africa Finance Corporation; Abebe Aemro Selassie, Director, African Department, International Monetary Fund; Solomon Quaynor, Vice President for Private Sector, Infrastructure&Industrialisation, African Development Bank; Strive Masiyiwa, Founder&Chair, Econet Wireless; Duncan Wanblad, CEO, Anglo American; Wale Tinubu, CEO, Oando Plc; Monique Gieskes, CEO, PHC; Marie-Chantal Kaninda, President, Glencore DRC; and more. The full programme is now available to view here ( with detailed sessions on value chain transformation, blended finance, regional infrastructure, and Africa's positioning in a multipolar global economy. Samaila Zubairu, President and CEO of Africa Finance Corporation, commented: 'Natural capital is only as valuable as the systems that refine, protect, and elevate it. At AFC, we believe that infrastructure is the bridge between Africa's resource richness and the continent's ability to rapidly industrialise and take its rightful place on the global stage. Our partnership with Invest Africa and The Africa Debate underscores the need for thoughtful, long-term capital — deployed strategically — to unlock the continent's full economic potential. We are proud to support a platform that challenges assumptions and catalyses bold, bankable solutions.' Chantelé Carrington, CEO of Invest Africa, added: 'Africa's path to prosperity must be built not on extraction, but on transformation. This year's theme compels us to ask harder questions about how we steward the continent's assets — human, natural, and institutional — in a world shaped by climate change, technological disruption, and shifting geopolitical priorities. With AFC's visionary leadership, we are honoured to convene a dialogue that is ambitious in scope, rigorous in thought, and focused on meaningful outcomes.' Confirmed Sponsors of The Africa Debate Include: Africa Finance Corporation (Headline Partner), Absa Group, Afreximbank, FirstBank UK Limited, Invest KZN, Standard Chartered, Standard Bank Group, Plantations et Huileries du Congo, Lagos Free Zone (Tolaram), Octopus Energy, ServiceNow, Stellar Developments, Spiro, Safaricom, Premier Invest, Remittances Hub, S-RM, DLA Piper, and London Stock Exchange Group. To register as a delegate for The Africa Debate, please visit: Places are limited and advance registration is essential. Distributed by APO Group on behalf of Invest Africa. For more information or media enquiries, please contact: Pippa van Breda Marketing&Communications Manager Invest Africa T: +44 2037 305 035 E: About The Africa Debate: The Africa Debate is London's premier investment forum dedicated to shaping the future of African trade, investment, and economic transformation. Now in its 11th year, the event serves as a critical platform for global businesses, investors, policymakers, and thought leaders to engage in high-level discussions on Africa's evolving role in the global economy. About Invest Africa: Invest Africa is a leading pan-African business platform that promotes trade and investment across the continent. With a 60-year heritage and a network of over 400 global members, Invest Africa provides trusted intelligence, strategic connections, and high-level convenings to support business success across African markets. About Africa Finance Corporation: Africa Finance Corporation is Africa's leading multilateral finance institution, focused on bridging the continent's infrastructure gap through innovative, commercially viable, and sustainable investments.
Zawya
08-05-2025
- Business
- Zawya
Invest Africa and United Kingdom (UK) Government Announce Strategic Partnership for The Africa Debate
Invest Africa ( the leading platform for promoting trade and investment across the African continent, is proud to announce a strategic partnership with the UK Government for the 11th edition of The Africa Debate, taking place on Wednesday, 2 July 2025 at the historic Guildhall in the City of London. As the UK's leading forum for high-level dialogue on Africa's economic trajectory, The Africa Debate 2025 will convene over 500 senior leaders from government, finance, and industry to explore this year's theme: 'Harnessing Natural Capital for Growth'. The agenda will examine how African nations can leverage their abundant resources – from critical minerals and biodiversity to human capital – to build globally competitive industries, enhance intra-African value chains, and deliver inclusive, sustainable development. The event comes at a strategically important moment: just over one year into the new UK Government, as it sets out a renewed international agenda focused on trade, investment, and strategic partnership with Africa. The Rt Hon. the Lord Collins of Highbury, Minister for Africa, commented: 'The UK recognises the critical role Africa plays in the global economy and in shaping a sustainable, inclusive future. We are proud to support The Africa Debate as a strategic platform to deepen trade and investment ties with African partners and boost mutual economic growth between our countries. Our ambition in our new approach to Africa is to support the scale-up of transformative green growth across the continent – and the UK stands ready to be a long-term, trusted partner in that journey.' Chantelé Carrington, Chief Executive Officer of Invest Africa, added: 'Our collaboration with the UK Government is a major milestone for The Africa Debate. With a new administration in place, this is a crucial opportunity to shape a modern and meaningful UK-Africa relationship centred on mutual benefit. As African economies focus on industrialisation, value addition, and sustainable investment, we are proud to offer a platform that connects the UK's financial expertise and private sector strength with Africa's vast economic potential.' The Africa Debate 2025 will feature head of state and ministerial keynotes, alongside high-level plenaries and curated side events that convene senior leaders from across Africa and the global investment community. This year's agenda will examine how the continent can harness its natural capital – through the lenses of finance, industrialisation, and digital innovation – to drive long-term value creation and sustainable development. Our strategic partnership reflects the UK's commitment to forging deeper, future-oriented relationships with African partners – focused on mobilising investment at scale, promoting inclusive economic growth, and co-creating resilient solutions to shared global challenges. Distributed by APO Group on behalf of Invest Africa. Media Contact: Invest Africa Email: Websites: Invest Africa ( The Africa Debate ( About The Africa Debate: The Africa Debate is London's premier investment forum dedicated to shaping the future of African trade, investment, and economic transformation. Now in its 11th year, the event serves as a critical platform for global businesses, investors, policymakers, and thought leaders to engage in high-level discussions on Africa's evolving role in the global economy. About Invest Africa: Invest Africa is a leading pan-African business and investment platform, that drives trade and investment across the continent. With over sixty years' experience in Africa, we provide our network with trusted market insights, tailored business support, and platforms for meaningful engagement. Our network includes more than 400 multinational corporations, investors, policy makers, and entrepreneurs, united by a shared commitment to building sustainable opportunity across Africa.
