According to allafrica.com, South Korea and African nations formalized a Joint Declaration and Action Plan on 9 September 2026 to deepen cooperation in artificial intelligence and digital infrastructure, with the African Development Bank estimating AI could add up to $1 trillion to Africa’s GDP by 2035.
Joint Declaration and Strategic Framework
The Joint Declaration was adopted during the 8th KOAFEC Ministerial Conference, held from 8 to 11 September under the theme “
“Harnessing AI and Digital Infrastructure for Africa’s Transformation.”
The conference marked the 20th anniversary of the Korea-Africa Economic Cooperation (KOAFEC) Trust Fund, managed by the African Development Bank Group. Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol emphasized Korea’s commitment to strengthening ties in key sectors including AI, healthcare, education, agriculture, transport, and skills development.
The Action Plan accompanying the Declaration outlines concrete sectoral priorities—AI applications in health, agriculture, capacity-building, and governance—designed to accelerate inclusive digital transformation across the continent. Ministers and government representatives from 45 African countries, Korean officials, private-sector actors, AI-focused start-up leaders, and heads of development institutions participated in the event.
Africa’s Demographic and Resource Potential
African Development Bank Group President Dr Sidi Ould Tah underscored that Africa’s status as home to the world’s youngest population represents its greatest AI asset: its people. He stated:
“With the world’s youngest population, Africa’s greatest asset in the field of artificial intelligence is its people.”
He stressed that turning this demographic promise into economic power requires robust infrastructure, capable institutions, and accessible innovation opportunities.
Ould Tah also highlighted Africa’s abundant critical minerals—essential for electric vehicles, batteries, renewable energy systems, and digital technologies—and affirmed:
“Africa does not want to remain confined to the role of a supplier of raw materials.”
He outlined a strategic shift toward local industrial manufacturing and value addition, supported by the Bank’s financing and risk-mitigation instruments tailored for Korean investors.
Financing, Risk Perception, and Partnership Vision
President Ould Tah identified misperceptions of investment risk as a major constraint on foreign capital flows and called for more accurate country-level risk assessments. He anchored the Bank’s approach in his ‘Four Cardinal Points’—a strategic vision placing strong partnerships, especially with the private sector, at the core of Africa’s transformation agenda.
Deputy Prime Minister Koo Yun-cheol welcomed the new phase of Korea-Africa collaboration, affirming that the Republic of Korea wishes to strengthen its cooperation with the African continent in key sectors such as artificial intelligence and digital technology—a commitment directly quoted from his remarks at the Seoul press conference. The partnership builds on two decades of engagement through KOAFEC and expands into high-impact digital domains with measurable economic targets.
Source: allafrica.com
Compiled from international media by the SCI.AI editorial team.
