African businesses and entrepreneurs have been challenged to stop looking overseas for markets and begin trading more aggressively within Africa.
These remarks were made by Kenyan President William Ruto at the Kenya-South Africa Business Forum in Midrand, Johannesburg on Thursday.
President Ruto said that intra-African trade still lags far behind the global average.
He added the AfCFTA is “among the greatest economic opportunities of our generation.”
“Africa cannot keep spending billions importing food while our own farmers and agro-industries stand ready to feed the continent,” President Ruto noted.
President Ruto also urged African financial institutions, pension funds and private equity to mobilise long-term capital for development in the continent.
“Governments can build enabling environments, but it is the private sector that drives transformation,” he said.
“I therefore urge business leaders to convert the opportunities of this forum into concrete investments, joint ventures, and lasting commercial partnerships,” He said.
Ruto said his country and South Africa should collaborate on several fronts to bring about meaningful transformation of the continent.
Bilateral trade between Kenya and South Africa reached about $680 million in 2025, with President Ruto calling the result “meaningful progress, but also a measure of how much potential remains untapped”.
“Our two nations command the financial strength, industrial capacity, entrepreneurial talent, and innovation ecosystems to power Africa’s next chapter,” Ruto added.
More than 60 South African companies operate in Kenya across various sectors, including banking, insurance, retail, manufacturing, telecommunications, infrastructure, and real estate.
South Africa is one of Kenya’s leading sources of foreign direct investment even as Kenyan companies expand southwards.
The Kenyan leader said that complementarity between the two countries and businesses should translate into deeper industrial cooperation.
“Let us collaborate boldly in automotive assembly, mineral beneficiation, agro-processing, and green manufacturing,” he said.
