Kenya’s Prime Cabinet Secretary and Foreign Affairs Minister Musalia Mudavadi has joined continental leaders in Abuja for the Annual Meetings of the African Export-Import Bank (Afreximbank)—a summit focused on redefining Africa’s financial sovereignty.

Representing President William Ruto, Mudavadi is advancing Kenya’s voice in a continental debate on how African nations can craft a resilient, homegrown financial architecture that reduces dependence on declining concessional financing and avoids the traps of opaque non-traditional lending.

According to Jacob Ng’etich, Director of Press Services in Mudavadi’s office, the summit is more than a ceremonial gathering—it is a strategic moment for Africa to rethink how it mobilizes, manages, and moves money.

“This is about Africa owning its financial narrative and aligning it with its development priorities,” Ng’etich said.

A key focus of the discussions is the Pan-African Payment and Settlement System (PAPSS)—a digital payments platform that aims to make intra-African trade faster, cheaper, and less dependent on external currencies.

On the sidelines, Mudavadi is set to engage the PAPSS implementation team on the system’s next steps, including the rollout of an African Currency Marketplace, a first-of-its-kind initiative designed to ease cross-border transactions.

But Mudavadi’s presence in Abuja is also part of Kenya’s broader diplomatic agenda: positioning the country as a magnet for investment and innovation.

He is expected to hold bilateral talks with business leaders across the continent, spotlighting Kenya’s strengths in infrastructure, fintech, and policy stability.

This year’s Afreximbank summit comes at a time when Africa is being forced to recalibrate. With traditional donors scaling back and interest rates surging globally, many nations are exploring ways to build internal capital ecosystems—from sovereign wealth funds to regional banks and digital financial rails.