The head of state made the remarks on Thursday during the opening of the Africa CEO Forum 2026 in Kigali.
Speaking in conversation with CNN journalist Eleni Giokos, Kagame addressed the current geopolitical tensions facing Rwanda and other African nations, framing sanctions as part of a broader pattern of external control over the continent’s resources.
Kagame argued that sanctions are frequently applied based on self-interest rather than principle.
“Sometimes sanctions are just applied in a case of one who provides less than the other,” he said. “So it was in the favor of the highest bidder. When somebody knows they will extract more from a certain place, they will be more favorable to that place, even if they are the ones in the wrong.”
He pointed to the open nature of this power dynamic, stating that major powers no longer hide their intentions.
“The powers that be are holding a whip in their hands, using a stick to beat up whoever they want to beat up. They’re no longer even hiding it. It’s just in the open.”
The President highlighted what he sees as hypocrisy in how some Western powers engage with Africa. He noted that the same actors who lecture African countries on democracy and human rights are simultaneously engaged in resource extraction.
“These powers you see that come here lecturing people on democracy, human rights, and they are doing it with one arm and with the other, they are just taking away everything that people own,” he stated.
“…We can’t just be people who are waiting to be ripped off by somebody who is shrewd enough and has the power to come. No, we must be able to say no,” Kagame added.
Addressing Rwanda’s own situation — facing U.S. sanctions since March this year linked to the conflict in the Democratic Republic of Congo — Kagame made it clear that capitulation was not an option. “I never capitulated in a worse situation,” he stated.
“This is not a bad situation as such. Well, it hurts, absolutely. And that’s what it is meant to do… But I think we would be hurt more by not doing what we are doing.”
He emphasized that saying “no” to unfair deals carries a short-term cost but serves long-term interests.
“It is not so difficult to say no. In fact, it costs more to say yes to the wrong thing.”
Kagame cited recent examples from the continent where leaders pushed back against unbalanced mineral deals tied to infrastructure or social programs, mentioning countries such as Zimbabwe, Zambia, and Ghana.
He called for greater African unity and collective action, suggesting African leaders need a stronger coordinated mechanism to protect their interests.
“These pressures… are not entirely bad. I think they force Africa to look within.”
The President concluded his remarks on the subject by expressing long-term confidence, stating that exploitative arrangements ultimately do not last.
“Even those who have been given the gift of messing us up, one day they will not live long enough to see the gains from exploiting people or doing unjust things.”
Jean-Guy Afrika, Chief Executive Officer of the Rwanda Development Board (RDB), said Africa must accelerate execution and strengthen collaboration between governments and the private sector to turn the continent’s potential into real economic scale.
He highlighted Kagame’s emphasis on shared ownership, noting that Africa’s ambitions cannot be achieved through isolated efforts but through coordinated action and cross-border cooperation.
Afrika also pointed to the need for reducing barriers to investment, improving predictability, and building stronger regional markets to support growth.
“The Africa CEO Forum has become a platform where Africa’s public and private sector leaders come together to shape a common agenda for growth, investment, partnership and execution,” he said.
The 2026 edition of the Africa CEO Forum 2026 runs from May 14–15 at Kigali Convention Centre, bringing together some of the continent’s most influential business and political leaders.
Held under the theme “The Scale Imperative: Why Africa Must Embrace Shared Ownership,” the forum is expected to attract more than 2,000 participants from over 75 countries, including CEOs, investors, heads of state, ministers and development finance institutions.
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