Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs, Musalia Mudavadi, is in Abuja, Nigeria, representing President William Ruto at the ongoing African Export-Import Bank (Afreximbank) Annual Meetings. The summit, which has drawn top-level African Heads of State, senior government officials, economists, and business leaders, is focused on shaping a robust and unified African financial architecture amid shifting global economic realities.
The high-level meetings aim to address how Africa can strengthen its economic autonomy and reframe its financial narrative. Discussions are centered around innovative financial solutions to reduce dependence on traditional concessional finance, which is dwindling, and to manage the growing influence of non-traditional lenders.
Jacob Ng’etich, Director of Press Services in the Office of the Prime Cabinet Secretary and Ministry of Foreign and Diaspora Affairs, confirmed that Mudavadi is actively engaging in strategic conversations to ensure African nations align their financial frameworks with continental priorities. “The focus is on how Africa can take charge of its financial destiny,” Ng’etich stated.
A key highlight of Mudavadi’s participation is his involvement in the dialogue surrounding the Pan-African Payment and Settlement System (PAPSS). He is scheduled to meet with the PAPSS team to discuss the upcoming rollout of its Instant Payment platform. This system is expected to revolutionize intra-African trade by enabling real-time cross-border transactions, cutting down reliance on third-party currencies such as the US dollar or Euro.
Further, the Prime Cabinet Secretary will explore the proposed African Currency Marketplace, an initiative aimed at streamlining and boosting trade within the continent by simplifying currency exchange processes across member states.
On the sidelines of the summit, Mudavadi is also engaging with influential African business leaders to pitch Kenya as a premier investment destination. He is expected to champion opportunities in sectors including infrastructure development, digital innovation, and financial services, underlining Kenya’s readiness to serve as a regional economic hub.
The Afreximbank summit comes at a crucial time when Africa is seeking to reposition itself in the global economic landscape, and Mudavadi’s presence signals Kenya’s commitment to playing a pivotal role in that transformation.
