MOSCOW, Russia – President William Ruto has challenged the global financial system to reform and better serve Africa’s development agenda.
Speaking at the Third Russia-Africa Economic and Humanitarian Forum at the Kremlin on Wednesday, Ruto said it was unjust that Africa has for generations fuelled global wealth creation yet retained only a small share of the value from its own resources.
The President, who was speaking in the presence of host President Vladimir Putin and other African leaders, said the continent is now shifting focus to partnerships that ensure greater value retention at home while still creating opportunities for external partners.
He urged Russia to scale up investment in Africa’s productive sectors, singling out education, agriculture, healthcare, research and innovation, and Artificial Intelligence as priority areas.
Ruto said the success of the summit should be judged on tangible outcomes, noting that the Russia-Africa Partnership Forum Action Plan 2027-2029 must move beyond declarations to deliver investments, industries and research collaborations that directly improve livelihoods.
Earlier, President Ruto toured the 1,140-acre Sberbank Smart City development on the outskirts of Moscow, a mega-project featuring 65,000 housing units, office blocks, schools, a hospital, and modern waste management and green infrastructure.
He described the project as a model for Kenya’s own ambitions around integrated urban planning, sustainable housing and technology-driven public service delivery.
The President welcomed Sberbank Group’s willingness to partner with Kenya in deploying AI to transform healthcare and education and expand access to quality services.
