Africa to Launch $60bn AI Fund to Build Inclusive, Ethical AI Economy
In a landmark move to harness the transformative potential of Artificial Intelligence (AI) for the continent’s socio-economic development, African leaders have endorsed the establishment of a $60 billion Africa AI Fund.
The Fund, expected to be capitalised through public, private, and philanthropic investments, will focus on developing a safe, inclusive, and globally competitive AI ecosystem across the continent.
According to the Africa Declaration on Artificial Intelligence, the Fund will prioritise foundational and catalytic investments in AI infrastructure, support for local AI enterprises, skills development, and strengthening of research capabilities. These efforts will be guided by principles of equity and inclusion, and in alignment with Africa’s strategic interests and cultural diversity.
“The Fund will play a crucial role in scaling up African AI enterprises, building a strong pipeline of skilled AI practitioners, and enhancing domestic research capacity,” the Declaration noted.
The Declaration also aligns with the African Union’s (AU) broader digital ambitions, including the AU’s Continental Strategy on AI, the Smart Africa AI for Africa Blueprint, the AU Data Policy Framework, and the AU Convention on Cybersecurity and Personal Data Protection.
The initiative further draws from outcomes of recent global AI summits held in Bletchley Park (UK), Seoul (South Korea), and Paris (France), while reaffirming commitments to the AU’s Agenda 2063 and the United Nations Sustainable Development Goals (SDGs).
Beyond investment, the Declaration outlines key objectives to foster ethical, trustworthy, and inclusive AI systems. These include positioning Africa as a global leader in responsible AI deployment and promoting human dignity, rights, and environmental sustainability through robust safeguards.
“AI must serve all African communities,” the Declaration affirmed. “Sovereignty, inclusivity, and diversity in AI design and deployment should reflect Africa’s shared values and strategic priorities.”
It further underscores the importance of regional and global partnerships, including public-private collaborations, to strengthen domestic capabilities and ensure the long-term sustainability of AI technologies on the continent.
The move is seen as timely, with AI rapidly transforming industries and societies globally. By anchoring its approach in ethics and inclusivity, Africa is seeking not only to close the digital divide but to shape the global AI discourse.
