Elumelu calls for investment to harness AI development in Africa

Chairman of UBA Group Tony Elumelu told global financial leaders on Wednesday that AI could transform Africa’s healthcare, education, and agriculture sectors if inclusive development, skills, and access to capital are prioritised, as the continent risks being left behind in global AI development.

Elumelu stressed that Africa’s digital growth must focus on people. He praised the continent’s youthful population and creativity as its greatest assets, recalling how the Mobile Money app has managed to reshape African finance despite the lack of infrastructure.

He warned, however, that limited capital and digital skills continues to constrain progress. He called for ‘smart public–private partnerships’ to fund digital infrastructure and capacity development programmes, solutions that avoid adding to public debt. He pointed Heirs Holdings’ investments in energy and entrepreneurship as examples of long-term local value creation.

Elumelu also urged African governments to ensure their participation in global AI and data governance frameworks, noting that ‘inclusion is not automatic; it must be intentional’. He said the goal should be to ‘democratise prosperity’ by building systems that empower young people through technology and sustainable investment.

Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!