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President William Ruto has said reforms in the international financial system will help boost investor confidence in Africa.

The President said derisking Africa will foster better relations between the public and private sectors for the common good.

President Ruto made the remarks during the United Nations Conference on Trade and Development (UNCTAD) Presidential Dialogue dubbed “Kenya: a driving force in accelerating continental Trade and Investment” in Nairobi County.

He noted that the current financial system that has falsely profiled the global south as a risky investment destination works against the continent.

“There is no way you can get private sector money into Africa if we have not sorted out the issue of risk. Nobody will invest here,” he said.

President Ruto called for efficient trade facilitation and streamlined customs procedures to boost African trade.

UNCTAD Secretary-General Rebeca Grynspan said reforms in the International financial system will help strengthen the institutions to offer better services.

“The institutions must be able to change and scale up the resources needed,” she said.

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