President William Ruto has called on African financial institutions to take the lead in funding green and climate-resilient industrialization across the continent, saying it is time Africa stopped relying on external financing and began mobilizing its own capital for sustainable development.
Speaking during a high-level consultative meeting on the Africa Green Industrialization Initiative (AGII) held at State House, Nairobi, President Ruto emphasized the need for urgency and implementation, calling on commercial and development banks across Africa to prioritize investment in green industries.
“As the global economic and trade landscape undergoes major shifts, Africa must look inward for solutions,” Ruto said. “Our financial institutions must rise to the occasion and support the green economy with the seriousness it deserves.”
The meeting, which came just days after the celebration of World Environment Day, brought together top leaders in African finance and development to strategize on mobilizing private sector capital to identify and support critical, bankable green projects.
President Ruto, who chairs the Committee of African Union Heads of State and Government on Climate Change (CAHOSCC), noted that despite Africa’s wealth of climate and industrial policy initiatives, the continent has lagged in implementation.
“Africa is not short of ideas or initiatives. What we lack is implementation and results. It is time we translate our commitments into measurable action,” he urged.
He further criticized the portrayal of Africa as a high-risk investment destination, warning that such narratives undermine the continent’s ability to attract the capital it needs for sustainable growth.
“We must stop profiling ourselves negatively. Such messaging only serves to hold us back. Africa has opportunities — what we need is confidence and commitment to invest in our future,” Ruto added.
The meeting drew participation from key figures in African finance and development, including:
Prof. Pierre Moukoko, Head of the African Union Reform Implementation Unit (representing AU Commission Chairperson Mahmoud Ali Youssouf)
Wamkele Mene, Secretary-General of the African Continental Free Trade Area (AfCFTA)
Alain Ebobissé, CEO of Africa50
Haytham Elmaayergi, Executive Vice-President of AfriExim Bank
Dr. James Mwangi, Group CEO of Equity Ban
Dr. Joshua Oigara, CEO of Standard Bank
Jeremy Awori, Group CEO of Ecobank Transnational Incorporated
Paul Russo, CEO of Kenya Commercial Bank (KCB)
Frankline Edochie, Director and Head of Metals and Mining/Investments at the Africa Finance Corporation
Dr. Alex Mubiru, Director-General for East Africa Regional Development, African Development Bank
The Africa Green Industrialization Initiative aims to fast-track Africa’s shift to low-carbon, climate-resilient industrial development — with an emphasis on job creation, energy security, and self-reliance. The initiative is a cornerstone in Africa’s broader climate and economic strategy as the continent grapples with the dual challenges of climate change and development.
President Ruto’s remarks reflect growing momentum within African leadership to pursue homegrown solutions that combine economic transformation with environmental stewardship.
As global climate finance discussions gain urgency, Ruto’s call for African banks to lead from the front marks a bold shift toward financial sovereignty and locally driven climate action.