Abuja -Kenya’s Prime Cabinet Secretary Musalia Mudavadi is representing President William Ruto at the African Export-Import Bank (Afreximbank) Annual Meetings in Abuja, Nigeria. The summit, which brings together African Heads of State, financial policymakers, and industry leaders, aims to chart a unified path toward a more independent African financial system.

Mudavadi arrived in Abuja earlier this week to attend high-level deliberations focused on Africa’s economic resilience amid tightening global financial conditions. The talks have centered on how the continent can craft its own financial solutions and reduce dependence on external lenders.

“Africa must define its economic destiny and craft homegrown financial solutions that reflect its priorities,” Mudavadi said during one of the sessions, according to a statement from Jacob Ng’etich, Director of Press Services in his office.

This year’s Afreximbank meetings come at a critical time. Concessional funding from traditional institutions has declined. In its place, non-traditional lenders many with stricter terms are filling the gap. Leaders at the summit have called for building African mechanisms that can withstand global economic pressures.

One of the key discussions Mudavadi is engaged in involves the Pan-African Payment and Settlement System (PAPSS). He is expected to meet with the PAPSS development team to review the progress of its Instant Payment platform. This system is designed to simplify cross-border transactions and encourage intra-African trade by allowing payments in local currencies.

Another topic on the agenda is the African Currency Marketplace, a platform that would help stabilize and coordinate currency exchanges within the continent. The marketplace is part of the broader AfCFTA (African Continental Free Trade Area) goal of deepening trade ties between African countries.

Beyond the main sessions, Mudavadi is scheduled to hold talks with African business leaders to attract investments to Kenya. His discussions will focus on promoting Kenya’s strengths in infrastructure, fintech, and innovation.

The Afreximbank summit continues through the weekend with more technical sessions and strategic side meetings planned. Kenya’s presence underlines its commitment to shaping Africa’s financial future from within the continent.