NAIROBI, Nov. 27 (Xinhua) -- Kenyan President William Ruto on Wednesday called on African nations to leverage youth-led innovation and entrepreneurship to stimulate growth as well as tackle endemic challenges of poverty, disease and unemployment.
Speaking at the fourth edition of Kenya Innovation Week in Nairobi, the Kenyan capital, Ruto stressed that creating a robust innovation ecosystem will help Africa leapfrog to the next frontier of growth and transformation.
"Innovation lies at the heart of our aspiration for progress, and it is critical for creating abundant opportunities for our youth," Ruto told delegates from over 30 African countries, including policymakers, innovators, investors and regulators.
From Monday to Friday, the 2024 Kenya Innovation Week runs under the theme of "Re-imagining Africa's Future," featuring panel discussions, boot camps, interactive workshops and exhibitions.
Ruto observed that about 150 exhibitors and start-ups are expected to showcase ground-breaking innovations that could attract global investors.
The five-day event will showcase Kenya's thriving innovation ecosystem that has attracted venture capital, unleashing new jobs for the youth and transforming key sectors like agriculture, manufacturing, health and energy, the Kenyan president said.
While reaffirming Kenya's commitment to becoming a global innovation hub, Ruto noted the country is keen to share experiences and best practices with other African nations in their quest to grow their knowledge-based economies.
He stressed the significance of innovation in realizing the African Union's Agenda 2063 besides positioning the continent as a hub for foreign direct investment in the digital economy.
According to Ruto, tapping into public and private sector financing will be key to commercializing a large pool of youth-led innovations in the continent, eliminating the unemployment crisis and fostering social cohesion.
"We should leverage technology and innovation in order to create opportunities, bridge the yawning gap of economic inequality and drive our nations to prosperity," Ruto said.
He added that by facilitating the seamless flow of cutting-edge innovations, African countries will reap from enhanced cross-border trade in goods and services alongside industrial progress. ■