Propelling Africa’s agenda key in unlocking financing for AI

Africa is aggressively pursuing the adoption of new technologies, including artificial intelligence (AI), to propel the continent's agenda and build a solid future. However, there are significant challenges that need to be addressed, particularly in terms of internet connectivity and digital infrastructure. In a recent interview with CNBC Africa, Lacina Kone, the CEO for Smart Africa, shed light on the critical initiatives and interventions needed to bridge the gap in access to technology in Africa and unlock financing for AI. Kone highlighted the vision of Smart Africa as a global collaborative platform with African leadership aimed at assisting member countries in elaborating national and regional AI strategies. The organization also focuses on fostering partnerships, mobilizing investments for infrastructure, promoting research and innovation, and enhancing collaboration in AI governance. One of the major challenges facing Africa is the digital infrastructure, including connectivity and access to AI data centers. Kone emphasized the importance of making digital infrastructure affordable and ensuring that computing power is available on the continent to adapt to AI quickly. He mentioned that only 46% of the population in Africa is currently connected to the internet, indicating a significant gap that needs to be addressed. Factors such as affordability, the cost of smart devices, local context, and cybersecurity further contribute to the usage gap. In response to the growing need for AI skills in the market, Kone stressed the significance of capacity building and retooling young people and entrepreneurs. Smart Africa has launched the Smart Africa Digital Academy to train decision-makers and youth on agile policy, digital transformation, and AI tools. Kone emphasized the importance of empowering the youth, as they represent the human capital necessary for a proper AI ecosystem in Africa. Furthermore, Kone discussed the establishment of an AI fund to finance artificial intelligence initiatives in Africa. The fund aims to empower the private sector, foster public-private partnerships, and engage international development partners to contribute to AI development in the region. The estimated size of the fund is between 60 and 100 billion US dollars, which will be allocated towards computing power, talent training, and policy harmonizations, particularly focusing on use cases in agriculture, education, and healthcare. Overall, the interview with Lacina Kone underscores the pressing need for Africa to overcome challenges in digital infrastructure, enhance AI skills among its workforce, and unlock financing for AI initiatives. By investing in technology and fostering collaboration, Africa can position itself as a leader in the global digital economy and drive sustainable growth and development across the continent.