Adesina Calls for $10B AI Fund to Boost Africa's Tech Sovereignty

During the 2026 Leadership Conference hosted by the Oxford Global Think Tank in Abuja, Dr Akinwumi Adesina, the former President of the African Development Bank, proposed the establishment of a $10 billion Africa AI Frontier Technology Fund. This initiative aims to secure Africa's technological sovereignty and is part of a broader $50 billion investment mobilization program over the next ten years.

Adesina warned that the global AI race will determine future economic power and stressed that Africa, projected to reach 2.5 billion people by 2050, cannot rely on external innovations. He outlined a five-point strategic framework that includes capturing economic value, investing in digital and energy infrastructure, fostering homegrown technology creation, mobilizing institutional capital, and enhancing political leadership.

Adesina called for a coalition involving the World Bank, African Development Bank, African governments, and private tech partners to realize this vision. Nigeria’s Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, also spoke at the conference, advocating for leveraging AI to transform national resources into shared prosperity.