IFC Warns Africa May Miss AI Boom Without Swift Investment and Regulation

Kenneth Afor
2 Min Read

The International Finance Corporation (IFC) has cautioned that Africa risks losing out on the economic advantages of artificial intelligence (AI) without urgent investments in digital infrastructure, skills development, and effective regulation.

Speaking at the GITEX Nigeria 2025 conference in Lagos, Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa, said AI presents vast opportunities for Africa’s growth but warned of persistent gaps.

“Artificial intelligence is emerging as one of the clearest tools enabling the possibility of a quantum leap forward for the continent, and Nigeria is ground zero,” Khalifa said.

She emphasised that energy, broadband connectivity, and digital infrastructure must be scaled up alongside training and responsible governance frameworks. Without these, the benefits of AI could bypass the continent.

Globally, AI is expected to add nearly $15 trillion to GDP by 2030, more than the combined economies of China and India today. Africa’s young population—expected to grow by 1 billion over 25 years—positions it as a natural hub for digital transformation.

Khalifa pointed to real-world examples: In Nigeria’s education sector, an AI pilot helped 800 students gain two years of learning in just six weeks.

In healthcare, Ghana and Rwanda use AI-powered drones to cut blood delivery times from hours to 30 minutes, while AI diagnostic tools achieve 90% accuracy in detecting TB and cervical cancer.

In agriculture, predictive platforms are improving crop yields by connecting farmers to underutilised machinery.

In finance, AI-driven credit scoring is giving millions of previously unbanked people access to loans.

She noted Africa’s digital economy could contribute $180 billion to GDP by 2030, creating an estimated 230 million jobs.

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A graduate of Mass Communication from Yaba College of Technology with over four years in journalism (print and electronic) in several beats including business, politics, sports and entertainment.