Sasina🩵 @Ofilo_ - Twitter Profile

Ofilo_ retweeted

U.O.X paper

@UOXpaper

15 days ago

THEY LIED TO US About him. Sorry,,,,

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Ofilo_ retweeted

Crazy Kennar

@crazy_kennar

16 days ago · Ruiru

BUYING W**D IN DIFFERENT COUNTRIES 😂😂😂

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Ofilo_ retweeted

Kennedy Wandera

@KennedyWandera_

21 days ago

"Africa is not a debt to be repaid by former colonial powers", Excerpts of Kenya's🇰🇪 President William Ruto's remarks at the #G7 summit in Evian Les Bains, #France. "For too long, Africa has been seen through the lens of need. Its risks overstated. Its opportunities understated. Its future decided in rooms where Africa had no seat. That era is ending. Africa has made its choice. In 2023, at the Africa Climate Summit, our leaders resolved that Africa would not be a victim of climate change. Africa would be an author of the solution. We have carried that resolve into every engagement since. From it, a wider consensus has taken shape about Africa's place in the world. We seek neither dependency nor alignment. We seek partnership. We seek a new paradigm, not hierarchy, but sovereign equality. Not aid alone, but mutual benefit. The age in which Africa's wealth is extracted and its value banked elsewhere is over. It is untenable. It is unacceptable. Africa is open for investment, but investment that builds shared prosperity. Excellencies, Africa's ambition is constrained by its access to finance. The multilateral development banks remain valued partners. Yet their capital does not match the scale of what we intend to build. Meanwhile, African nations borrow at rates far above their peers. Where the fundamentals are equal, the price we pay is not. Too often, risk is measured by assumptions the facts no longer support. The result is plain. Opportunity goes unfunded. Growth is deferred. But Africa is not waiting. We are acting. First, we are building African multilateral financial institutions of our own, because Africa is not short of capital. Across our banks, our pension funds, our insurers and our reserves, the continent holds more than four trillion dollars in financial assets. What we lack is not money. It is the architecture of risk that turns short-term savings into long-term investment, at scale. Second, we are strengthening the risk-sharing mechanisms that draw in capital from both domestic and foreign sources. Third, we are putting our own resources behind our own priorities. In Kenya, for example, we have mobilised close to 9 billion dollars for affordable housing and one and a half billion dollars for our universal healthcare program, because development begins at home. We will do our part. We ask our partners to do theirs. So, we call upon the G7 to stand behind African institutions through guarantees and other risk-sharing instruments. We have identified existing institutions, including the African Trade & Investment Development Insurance (ATIDI), that can deploy this support effectively. A guarantee is not merely money. It is confidence. It is capital unlocked. It is the power to mobilise resources, domestically and internationally, many times greater than the guarantee itself. Excellencies, Africa is not a problem to be solved. Africa is the greater part of the solution. Africa is not a burden to be carried. Africa is an opportunity to be seized. Africa is not a debt to be repaid by former colonial powers. Africa is an asset for the prosperity of the world."