South-South, Triangular convention closes with call to spur investments

The inaugural Convention on South-South and Triangular Cooperation concluded in Kigali on Tuesday, June 23, with calls for developing countries to move toward more structured, investment-ready and accountable cooperation frameworks aimed at addressing persistent development financing gaps. ALSO READ: Why developing countries are turning to each other for solutions Closing the two-day meeting, Rwanda’s Minister of State for Foreign Affairs and International Cooperation, Usta Kaitesi, said South-South Cooperation must evolve from traditional solidarity and knowledge-sharing into a more practical economic approach focused on mobilising capital and delivering measurable outcomes. “The foundation of South-South cooperation is anchored in knowledge exchange, equitable access, and the expression of solidarity... these foundations remain vital and must never be abandoned,” she said, adding that the model must now “turn into something more.” “The challenge before Africa and the broader Global South is not the shortage of viable projects. The gap is between those projects and the capital that can bring them to life,” she said. She called for stronger institutional arrangements, saying South-South Cooperation must be embedded in durable frameworks with clear mandates, sustainable funding, and accountability systems to ensure continuity and impact. ALSO READ: Nduhungirehe urges knowledge transfer at first South-South, Triangular convention South-South cooperation is a collaboration among countries in developing regions, where nations share knowledge, skills, technology and policy experience based on similar development challenges. Triangular cooperation adds a third dimension, where traditional development partners or multilateral organisations support and facilitate these exchanges, helping scale successful solutions and mobilise additional resources. The minister urged countries to rethink capital mobilisation, emphasizing blended finance, guarantor structures, and innovative financing instruments as key tools to unlock investment. Kaitesi stressed the need for governments to strengthen legal, policy, and financial systems that support investment. On knowledge exchange, she highlighted the need for structured and accessible platforms to ensure that information and expertise are effectively shared and applied across countries. She described this as requiring a “dedicated, well-resourced learning platform” to support cooperation. She further emphasized that gender and youth inclusion must be central to all cooperation efforts, alongside stronger accountability systems to track results. ALSO READ: How Rwanda contributes to South-South cooperation through knowledge sharing Kaitesi outlined several priority actions to guide the future of South-South and Triangular Cooperation. She called for the institutionalisation of South-South Cooperation within durable frameworks that have clear mandates, sustainable financing, and strong accountability mechanisms. She also stressed the need to move away from fragmented initiatives toward structured systems capable of sustaining long-term cooperation. She further recommended the development of investment-ready pipelines through stronger collaboration between governments, development partners, and the private sector, aimed at ensuring that viable projects can attract financing more efficiently. The minister also urged that capital mobilisation be made a core function of cooperation platforms, supported by blended financing models, risk-sharing instruments, and innovative financial tools designed to expand access to investment. She underscored that women and youth must be fully integrated into all cooperation frameworks, and that shared accountability systems should be strengthened to ensure transparency, results tracking, and long-term impact.

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South-South, Triangular convention closes with call to spur investments