{"id":105249,"date":"2024-12-14T11:03:03","date_gmt":"2024-12-14T11:03:03","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/12\/14\/raila-echoes-rutos-push-for-overhaul-of-international-financing\/"},"modified":"2024-12-14T11:03:03","modified_gmt":"2024-12-14T11:03:03","slug":"raila-echoes-rutos-push-for-overhaul-of-international-financing","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/raila-echoes-rutos-push-for-overhaul-of-international-financing\/","title":{"rendered":"Raila echoes Ruto\u2019s push for overhaul of international financing"},"content":{"rendered":"

NAIROBI, Kenya, Dec 14\u2014Kenya\u2019s candidate for the African Union Commission (AUC) Chairperson, Raila Odinga, has called for significant reforms in international financing arrangements for African nations.<\/strong><\/p>\n

Speaking on Friday during the Mjadala Afrika Leadership Debate<\/em> in Ethiopia\u2019s capital, Addis Ababa, Odinga emphasized the need for structural reorganization to empower African countries and reduce dependency on external funding.<\/p>\n

Reiterating the importance of financial self-reliance, Odinga proposed the establishment of a sovereign fund to ensure the AU\u2019s operations are sustainably financed through Africa\u2019s own resources.<\/p>\n

\u201cOne of the reforms I will be pushing in the AU is financial reforms, so we can involve the African private sector in funding,\u201d Odinga stated.<\/p>\n

\u201cWe can create a sovereign fund that will enable the AU to perform its work. We can fund this organization using our continent\u2019s resources, and this is what I will aim to achieve.\u201d<\/p>\n

Odinga, who is seeking to succeed outgoing Chair Mousa Faki, also appealed for enhanced intra-African trade and lower energy costs across the continent.<\/p>\n

He made these remarks while debating against Djibouti\u2019s Mohamoud Ali Youssouf and Madagascar\u2019s Richard Randriamandrato, who are also vying for the seat.<\/p>\n

Funding the AU<\/h2>\n

Further, Odinga underscored the pressing need for African nations to pay their dues to the AU, noting that only 17 member states currently remit the agreed-upon 0.2 per cent duty meant to fund the bloc.<\/p>\n

\u201cThis is what happens in the European Union. That is why the EU is able to fund the AU\u2014it\u2019s a shame. We can fund this organization ourselves using resources from within the continent,\u201d he said.<\/p>\n

On energy, Odinga identified high costs as a key impediment to industrialization and development across Africa. He advocated for concerted efforts to make energy more affordable, thereby spurring economic growth and innovation.<\/p>\n

The former Kenyan Prime Minister also highlighted the untapped potential of intra-African trade, which remains significantly lower than in other regions. He called for expedited implementation of the African Continental Free Trade Area (AfCFTA) to unlock opportunities within the continent.<\/p>\n

Odinga criticized the AU\u2019s inefficiencies, pointing out that 93% of resolutions passed by the Assembly of Heads of State remain unimplemented.<\/p>\n

\u201cWe know where we are as Africa. This is why the heads of state established the committee on reforms,\u201d he observed.<\/p>\n

He pledged to lead reforms that would streamline decision-making and enhance the AU\u2019s operational effectiveness.<\/p>\n

\u201cI am ready to work for Africa. I don\u2019t need any kind of induction and will give my best from Day One if appointed,\u201d Odinga affirmed.<\/p>\n

Odinga expressed gratitude to his supporters and the AU for providing a platform for constructive engagement.<\/p>\n

\u201cI would like, in a very special way, to thank my team, family, friends, and fellow Kenyans for their solidarity and love. This debate was an exceptional, fulfilling, and worthwhile experience.\u201d<\/p>\n

The debate, which Odinga lauded as an innovative platform for dialogue, allowed him and other candidates to articulate their visions for Africa\u2019s future.<\/p>","protected":false},"excerpt":{"rendered":"

NAIROBI, Kenya, Dec 14\u2014Kenya\u2019s candidate for the African Union Commission (AUC) Chairperson, Raila Odinga, has called for significant reforms in international financing arrangements for African nations. Speaking on Friday during the Mjadala Afrika Leadership Debate in Ethiopia\u2019s capital, Addis Ababa, Odinga emphasized the need for structural reorganization to empower African countries and reduce dependency on […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-105249","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/105249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=105249"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/105249\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=105249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=105249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=105249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}