African leaders call for fairer credit access at Nairobi summit

Tuesday 12 May 2026 - 09:00

African leaders gathering in Kenya for the Africa Forward Summit called for major reforms to the global financial system in order to improve access to credit and encourage investment across the continent.

The summit, held in Nairobi with the participation of more than 30 African heads of state and government leaders, brought together policymakers and international partners to discuss economic cooperation, development financing and investment opportunities in Africa.

William Ruto emphasized that many African countries continue to face high borrowing costs because international lenders often perceive the continent as carrying excessive financial risk. According to several leaders attending the summit, this situation limits investment, slows infrastructure projects and affects long-term economic growth.

African representatives also discussed the possibility of creating an African credit rating agency that could provide assessments more adapted to the economic realities of the continent. Supporters of the idea argue that current international rating systems sometimes fail to recognize Africa’s economic potential and reform efforts.

French President Emmanuel Macron described the summit as an opportunity to strengthen partnerships between France and African nations on the basis of mutual respect and shared economic interests. He highlighted investment commitments announced during the event and expressed support for mechanisms designed to reduce investment risks in Africa.

Among the proposals discussed was the creation of a first-loss guarantee mechanism aimed at encouraging private investors to finance African projects by limiting financial exposure. Economists believe such tools could help attract additional capital to sectors such as infrastructure, renewable energy, transportation and technology.

The summit also reflects France’s efforts to reinforce its diplomatic and economic presence in Africa at a time when geopolitical competition and shifting alliances are reshaping international relations on the continent.

William Ruto is expected to continue promoting African financial reform proposals during the upcoming G7 summit in France, where access to development financing and global economic governance are likely to remain key topics.