ROME, Italy, Jan 30 – President William Ruto has urged European investors to explore investment opportunities in Africa.
The President said investing in Africa is a smart business decision owing to its vast untapped resources.
He described Africa as a continent with a great future, huge opportunities and tremendous potential.
“If you are looking at the future and you are not looking in the direction of Africa, then you are looking in the wrong place. The future is in Africa,” he said.
He made the remarks on Tuesday at the European Corporate Council on Africa and the Middle East (ECAM) dinner in Rome, Italy.
He said Africa has the largest renewable energy assets in the world, making it the most ideal green industrial hub of the world.
“Africa also has the world-critical minerals necessary for energy transition,” he added.
The President said the continent has two-thirds of the world’s arable land and thus the potential for immense agricultural production to feed itself and, indeed, the world.
He also noted that Africa has the youngest population, with more than 70 per cent below the age of 30.
He explained that by 2050, a quarter of the world’s population will be living in Africa, making the continent a profitable market to invest in.
President Ruto, however, said Africa’s potential cannot be realised without the right technologies and financial support.
He called on Europe to harness its technologies in Africa and help unlock its vast resources for the mutual benefit of both parties.
“We can forge a win-win outcome for Europe, Africa and the globe,” he said.
The President said the Italy-Africa summit, the first-ever, is a demonstration that Africa is no longer the dark continent it has previously been profiled to be.
During President Ruto’s two-day visit to Italy, he addressed the Italy-Africa Summit that focused on food security, vocational training, energy and infrastructure development.
He also held talks with President Sergio Mattarella of Italy. During the meeting, Italy accepted Kenya’s proposition to use its G7 presidency to push for reforms of the international financial system.
President Ruto also held talks with Italian Prime Minister Giorgia Meloni and the President of the European Council Charles Michel.
He also met Mr Axel van Trotsenburg, senior managing director of the World Bank Group, Food Agricultural Organisation Director-General Qu Dongyu and the Rome Initiative Group on the Peace Process in South Sudan.
Others were the Executive Director of the World Food Programme Cindy McCain and the Managing Director of the International Monetary Fund Kristalina Georgieva.
