Somalia President Hassan Sheikh Mohamud has arrived in Nairobi, Kenya, to attend the annual African Development Bank (AfDB) summit currently taking place at the Kenyatta International Convention Centre (KICC).
President Mohamud is among the 28 senior government officials expected to participate in the event on Wednesday, May 29, 2024, during which President William Ruto will deliver his remarks.
Later, Ruto will host a state dinner at the State House, which will be attended by several heads of state from across Africa. Defence Cabinet Secretary Aden Duale welcomed President Mohamud to the country on Tuesday evening in preparation for the summit on Wednesday.
Duale, speaking upon the president’s arrival, emphasized the significance of the summit, which will involve representatives from AfDB’s 81 member states.
“President Sheikh, along with other African Heads of State, is in the country to attend the Annual Meetings of the African Development Bank Group starting tomorrow,” Duale stated.
The AfDB summit commenced on May 27, 2024, and is scheduled to continue until May 31, 2024. This year’s theme for the 2024 Annual Meetings is ‘Africa’s Transformation, the African Development Bank Group, and the Reform of the Global Financial Architecture.’
The African Development Bank emphasized in an earlier statement that these meetings aim to accelerate structural transformation in Africa to achieve faster socio-economic progress.
The knowledge events during the summit will also discuss the significance of restructuring the global financial architecture to drive structural transformation, along with the African Development Bank Group’s role in Africa’s socio-economic development over its 60 years of existence.
One prominent item on the agenda is the insufficient climate finance available for African priorities, coupled with the high capital costs for investing in sustainable infrastructure for green growth and an equitable energy transition.
Additionally, the annual meetings provide a vital platform for the 81 governors and finance ministers of the AfDB to convene and discuss key economic decisions.
These meetings serve as the most significant stakeholder forums within the Bank Group’s framework, attracting up to 3,000 senior government officials and private investors.
