File image of President William Ruto.
President William Ruto has appealed to African nations to explore opportunities for joint initiatives that advance the continent’s special economic zones.
Speaking on Thursday during the official opening of the 9th African Economic Zones Organisation’s annual meeting at the KICC, Nairobi, Ruto said the zones will play a key role as catalysts for Africa’s economic renaissance, helping the continent achieve its full potential and foster the drive for collective transformation.
“By integrating special economic zones into a continental transformation strategy, we shall enhance resilience and competitiveness to achieve inclusive prosperity,” said Ruto.
The Head of State noted that such strategies require a well-designed ecosystem that aligns critical regulatory, institutional, and infrastructural elements essential for driving industrial development, export competitiveness, and trading capacity.
“That is why special economic zones are indispensable engines of growth,” he added.
The President said Kenya is committed to advancing collaborative frameworks with all African nations, pointing out that partnerships in Africa’s special economic zones align with the shared vision of harnessing the potential of the African Continental Free Trade Area, providing access to a 1.4 billion market.
Ruto pointed out that these zones are driving investment, job creation, and technological growth, bolstering a competitive and inclusive economy.
“The African Continental Free Trade Area represents a historic opportunity to create a tariff-free Africa, boost intra-African trade and investment, drive industrialization, and generate meaningful employment for our youth,” he said.
At the same time, the Head of State noted that by reducing reliance on external support, Africa can build a self-reliant pan-African economic area rooted in integration, innovation,n and enhanced intra-African collaboration.
He emphasized that the continent must seek ways of utilizing its abundant natural resources and human capital to drive inclusive economic growth.
“It is imperative that we transition swiftly from dependence on raw material production to competitive export production and value addition through industrialization,” Ruto remarked.
The President said the enactment of special economic zones laws in 2015 laid the groundwork for significant progress in sectors such as manufacturing, technology, and agriculture.
“Our zones are attracting investments, creating jobs, and facilitating the transfer of skills and technology, all of which are critical to building a competitive and inclusive economy,” he said.
President Ruto said the government has introduced reforms to enhance the operational environment for special economic zones.
“Under the Finance Act 2023, key aspects were reformed, making them more viable for integrated investment parks,” he said.
He explained that this approach fosters synergy, boosts efficiency, and creates thriving ecosystems critical for Africa’s industrial take-off.
The President also said the government is undertaking a comprehensive amendment to the Special Economic Zones Act 2015 to align it with regional and continental frameworks, including the Africa Free Continental Free Trade Area.
“These changes will make Kenya’s special economic zones more attractive, competitive, and globally integrated, thereby unlocking vast economic opportunities,” he said.
President Ruto further noted that the East African Community has adopted a unified special economic zone policy to harmonize the treatment of goods produced within Africa’s economic zones.
Also Read: National Assembly Approves Ruto’s CBK Deputy Governor Nominee
