Kenya has been selected to host the first-ever African Economic Summit in 2025, with Heads of State and leaders from around the globe set to converge for the event. The announcement of the summit was made jointly by Presidents William Ruto, Nana Akufo-Addo of Ghana, and Hakainde Hichilema of Zambia.

President Ruto emphasized the significance of this summit, stating, “It is time for our fellow world leaders to come to us. Kenya is proud to be hosting this transformative event that will reshape the economic landscape of Africa.”

The summit aims to address key growth and development challenges facing the continent and will serve as a platform for fostering collaboration and investment opportunities. Notably, the three leaders have spearheaded the launch of the Africa Club, an alliance of African multilateral financial institutions aimed at bolstering regional negotiation power and enhancing investment prospects in Africa.

Furthermore, the trio proposed a bold initiative, urging all African Union (AU) member states to allocate a minimum of 30% of their sovereign reserves to African multilateral institutions, signaling a unified commitment to drive continental progress and prosperity.

The upcoming summit is poised to be a transformative milestone in Africa’s economic journey, with Kenya leading the way in fostering global partnerships and driving inclusive development initiatives.