Somalia President Hassan Sheikh Mohamud has arrived in Nairobi Kenya for the annual African Development Bank (AfDB) summit that is ongoing at the Kenyatta International Convention Centre (KICC).

President Mohamud is part of the 28 senior government officials expected to grace the event on Wednesday, May 29, 2024, where President William Ruto will make his remarks.

Ruto will later hold a state dinner at the State House, where several heads of state from across the African region are expected to attend.

President Mohamud was welcomed into the country by Defence Cabinet Secretary Aden Duale Tuesday evening ahead of the Wednesday, 29, 2024 meeting.

Speaking during his arrival, Duale noted that the head of state had jetted into the country in readiness for the Wednesday summit that will involve AfDB’s 81 member states.

“President Sheikh, along with other African Heads of State, is in the country to attend the Annual Meetings of the African Development Bank Group starting tomorrow,” Duale stated.

AfDB summit

The AfDB summit began on May 27, 2024, and is expected to run until May 31, 2024.

The theme of the 2024 Annual Meetings is ‘Africa’s Transformation, the African Development Bank Group, and the Reform of the Global Financial Architecture.’

In an earlier statement, the African Development Bank stated that the meetings will fast-track structural transformation in Africa as a panacea for faster socio-economic transformation.

“The knowledge events will also address the importance of a reconfigured global financial architecture as an engine for structural transformation, and the Bank Group’s contribution towards Africa’s socio-economic transformation in its 60 years of existence,” the statement read.

AfDB Agenda

A particular subject that ranks on the agenda is the lack of climate finance for African priorities and the high cost of capital to invest in sustainable infrastructure for green growth and a just energy transition.

The other matter is the lack of climate finance for African priorities and the high cost of capital to invest in sustainable infrastructure for green growth and a just energy transition.

The annual meetings are the most important stakeholder forums in the Bank Group’s structure and attract up to 3,000 senior-most government officials and private investors.

The meetings also serve as a contact point for the 81 AfDB’s governors and finance ministers to touch base on key economic decisions.

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