April 18, 2024

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Kenyan President Ruto Headlines Invest Africa’s United States (US)-Africa Investment Forum

NEW YORK, United States of America, October 2, 2023/ — On the margins of the United Nations General Assembly (UNGA), Invest Africa (www.InvestAfrica.com), a leading pan-African trade and investment platform, hosted a US-Africa Investment Forum at which Kenyan President William Ruto underscored the urgency of addressing climate change as well as Africa’s potential to lead the energy transition.

This year, African leaders at UNGA united to emphasize the continent’s transformation from a passive participant in the global order to an assertive partner actively seeking collaboration, not marginalisation. From South African President Ramaphosa’s plea for Africa to “reclaim its role as a beacon of human advancement” to Nigerian President Tinubu’s call for viewing the continent as “genuine allies and collaborators,” Africa resounded its need for a more significant presence in multilateral institutions.

The US-Africa Investment Forum, held in partnership with the Milken Institute, included a fireside chat with President Ruto and Michael Milken, Chairman of the Milken Institute, where President Ruto reiterated these calls for partnership and investment opportunities. He emphasised the role of credit rating agencies in shaping Africa’s investment landscape, highlighting concerns about the nature of creditworthiness assessments and their impact on emerging economies. Africa Finance Corporation President & CEO Samaila Zubairu and Standard Chartered Bank Managing Director Kevin Garrow made keynote remarks, followed by a stellar panel discussion on innovation and emerging trends in climate finance across Africa, with participation from USAID, Government of Namibia, Standard Chartered Bank, Cross Boundary, Eurasian Resources Group and Xcalibur Multiphysics moderated by Semafor Climate and Energy Editor Tim McDonnell. 

Karen Taylor, CEO of Invest Africa, expressed her gratitude, stating, “It was a great privilege to host H.E. William Ruto, President of the Republic of Kenya, on the sidelines of this year’s UN General Assembly. In an era when multilateralism is seemingly in retreat across the globe, witnessing President Ruto and numerous African leaders seizing the spotlight in New York is deeply encouraging. President Ruto’s leadership on climate and sustainable investment is inspiring, and we look forward to supporting his efforts to fortify the continent’s climate resilience and propel climate-smart investments into African markets.”

Kevin Garrow, Managing Director and Head of Natural Renewable Resources & Industrials – Americas at Standard Chartered Bank, commented, “The UN General Assembly remains a steadfast fixture on the multilateral calendar, and Standard Chartered was pleased to partner with Invest Africa and the Milken Insitute engaging  with leaders in the markets we serve. Africa has been an enduring cornerstone of our growth narrative for well over a century, and we look forward to collaborating with President Ruto and his administration to unlock sustainable finance opportunities, propelling Kenya and the broader continent towards a low-carbon future.”

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