Kenyan President, William Ruto, has urged African nations to shift towards using local currencies instead of the U.S. dollar for intra-continental trade. Ruto highlighted the availability of a mechanism provided by the African Export-Import Bank (Afreximbank) that facilitates trade using local currencies within the continent.

He emphasized the need for reduced reliance on the dollar for trade transactions, citing the global de-dollarization campaign gaining momentum worldwide. Ruto joined other countries, including China, Russia, Brazil, India, and the UAE, in calling for de-dollarization.

He clarified that the intention is not to oppose the U.S. dollar but to promote ease of doing business. Ruto expressed commitment to economic integration in Africa and reducing dependence on external currencies.

During his visit to Djibouti, Ruto announced Kenya’s plan to eliminate visa requirements for Djiboutian citizens, aiming to improve trade and air traffic between the two countries and promote regional interactions. Kenya’s efforts to remove immigration barriers have been demonstrated by the recent removal of visa requirements for Eritrea.