UNCTAD summit in Nairobi enters its third day

delegates at UNCTAD summit
Many delegates have converged at UNCTAD summit in Nairobi, as it enters third day

As the UNCTAD summit enters its third day, investment platforms have been highlighted so far, as delegates from all over the world have set their sights on new financial opportunities. Over 7000 delegates are attending the 14th version of the UNCTAD summit which is the second hosted in Kenya. The country is meant to benefit greatly from the summit, as trade and financial deals are signed, and the third day was flagged off by financial discussions aimed at transforming economies for sustainable and inclusive growth during the morning session, an example being the Kenya Bankers who launched a platform that is aimed towards achieving sustainable development goals. The summit is preside over by Cabinet Secretary for Foreign Affairs and International Trade Ambassador Amina Mohamed, who said the summit will reinforce Kenya’s high profile and cement its position as a global economic and trade player.

President Kenyatta highlights issues facing the region

President Uhuru Kenyatta has highlighted the challenges faced by the country and other nations in the region as opportunities, including food security and marginalization. Speaking at the UNCTAD summit, he insisted the challenges faced by the countries in the region can be avoided if resources are used well, “Money sent to respond to disaster should be used to empower people to set up farms and feed themselves,” he said. He added that a youthful population and a lack of infrastructure are opportunities and not challenges, “20 percent of government procurement must be focused on youth, women and persons with disabilities, “ he said, addressing the youth conundrum in the country given that the rate of unemployment in the country is high. Concerning development, he said devolution is allowing resources to go out to the countryside and various communities, and it has allowed county residents to make their own decisions to shape their localities.

President Uhuru at UNCTAD urged for partnerships
President Uhuru Kenyatta speaking at UNCTAD urged the UN to embrace partnerships in the region

The United Nations agencies have been on the forefront when it comes to providing aid and support to African countries, and third world countries in general, but the president was quick to point out that partnerships are needed instead of help from these agencies. He affirmed that there are various programs that are underway to help development, and the UN agencies should seek to support these programs.