William Ruto has called for the establishment of the New African Financial Architecture and Development Framework (NAFAD) to correct longstanding distortions in risk perception that continue to increase the cost of capital for African countries and discourage long-term investment into productive sectors across the continent. Speaking during the opening ceremony of the Africa Forward Summit, President Ruto advocated for home-grown solutions to Africa’s challenges. The two-day event is coming to an end today, with a joint resolution expected later today.
