Kenya is preparing to host the Common Market for Eastern and Southern Africa (COMESA) Summit from October 7th to 9th in Nairobi, a gathering that will shape the continent’s economic direction. The high-profile meeting will attract Heads of State, ministers, business leaders, and entrepreneurs from 21 member states.
This year’s summit holds historic significance. President William Ruto will assume the COMESA chairmanship at a time when Africa faces pressing challenges on trade, currency use, and industrial growth. With Kenya hosting the event for the third time, expectations are high that Ruto’s leadership will push Africa into a new trade era.
Ruto COMESA Chairmanship Set to Drive African Trade Integration
President William Ruto is preparing to take over the leadership of COMESA during the Nairobi summit, a move that places Kenya at the center of Africa’s trade and integration agenda.
Trade Cabinet Secretary Lee Kinyanjui said Kenya enters the summit from a strong position, describing the country as a rising global investment hub. He highlighted Kenya’s youthful workforce, affordable labor, and favorable trade agreements with Europe, Asia, and the Middle East as key drivers of growth.
He added that Kenya is breaking down barriers and supporting local businesses to maximize opportunities created by regional and international agreements.
Regional Trade to Benefit from Currency Integration
One of the summit’s most anticipated discussions will center on currency use in intra-African trade. Kinyanjui noted that Africa must break away from overdependence on the U.S. dollar.
He said member states can now transact using their local currencies, reducing the high costs of dollar-based trading. Kenya is already trading with partners like Morocco in shillings, showing how currency integration can work in practice.
Financial giants like Equity Bank and KCB, both present in several African countries, are also expected to play a major role in stabilizing cross-border payments and enabling smooth regional commerce.
MSMEs Positioned as Future Multinationals
The government is prioritizing Micro, Small, and Medium Enterprises (MSMEs), branding them as the foundation of Africa’s future economic strength.
Kinyanjui said structures such as the KIE incubation center and a dedicated MSME department are being set up to nurture growth. By equipping small businesses with tools, market access, and information, Kenya aims to build the multinationals of tomorrow from the ground up.
This strategy will be highlighted at the COMESA summit, where MSMEs will showcase their innovations at exhibitions and connect directly with investors during EU Connect, a private sector forum linked to the event.
Africa’s Trade Future Under Ruto’s Leadership
Foreign Affairs and Trade Principal Secretary Regina Ombam described COMESA as a vital platform for Africa’s economic transformation. She stressed the importance of larger regional markets, policy harmonization, and dismantling trade barriers.
“With Ruto’s leadership in COMESA, Africa must push for an integrated trade system that is more outward-looking and competitive,” Ombam said.
The summit will also shine a spotlight on the African Continental Free Trade Area (AfCFTA), seen as a complementary framework to COMESA. Leaders will push for value addition, industrial growth, and SME empowerment to transform Africa from a raw-material exporter into a global powerhouse.
Ombam urged Kenyans to take part, especially entrepreneurs and youth, stressing that the summit is a chance to rethink Africa’s trade path and establish a more sustainable future.
Conclusion
Ruto’s takeover of the COMESA chairmanship is more than a ceremonial role. It positions Kenya at the heart of Africa’s economic negotiations, giving Nairobi a chance to push for reforms that strengthen currency integration, support MSMEs, and align regional trade with AfCFTA goals.
For Africa, the Nairobi summit could mark a turning point. The debates and agreements made will not only influence trade and investment but could also reshape the continent’s place in global commerce. Under Ruto’s leadership, COMESA now faces the test of turning promises into action for a stronger, more unified Africa.
