Ruto warns African leaders against making promises their budgets cannot fund

NAIROBI, Kenya Oct 22 – President William Ruto has warned African leaders against making development promises they cannot afford to deliver, saying governments must match their ambitious plans with money…

Ruto said African governments risk losing credibility when they make commitments without securing the resources needed to fulfil them, a challenge that resonates with Kenyans grappling with taxes, public debt and demands for better services.

“Every programme we agree upon must be matched by the resources to deliver it. Otherwise, our communiqués will promise what our budgets cannot pay for,” Ruto said on Thursday while addressing the COMESA Summit in Harare, Zimbabwe.

The President called for a new approach to financing development, arguing that African countries must find innovative ways to fund their priorities instead of relying heavily on expensive borrowing.

He said Africa holds more than $4 trillion in domestic financial assets, including money held by central banks, insurance companies and capital markets, yet many development projects continue to struggle to secure funding.

Source: Capital FM