The African Development Bank (AfDB) and tech giant Intel have embarked on a groundbreaking initiative to equip Africa with a powerful force in artificial intelligence (AI).
This ambitious plan, announced during the recent AfDB Annual Meetings in Nairobi, Kenya, aims to train a staggering 3 million Africans and 30,000 government officials in AI expertise.
This collaboration marks a significant stride towards building a robust pool of African talent equipped with the skills needed to thrive in the Fourth Industrial Revolution (4IR).
By empowering Africans with AI knowledge, the partnership seeks to unlock economic growth, boost productivity, and transform Africa from a consumer of 4IR technologies to a key contributor and innovator in the field.
The training program will be strategically designed to address critical socio-economic challenges and propel progress in vital sectors like agriculture, healthcare, and education.
The AfDB anticipates this initiative to disrupt traditional growth patterns and usher in a new era of economic development across the continent.
The AfDB and Intel will also work collaboratively to support African governments, regional economic institutions, and continental organizations in establishing comprehensive policy and regulatory frameworks for AI, alongside other emerging technologies like 5G, Wi-Fi 6E, data management, and cloud computing.
Intel’s Director of Government Affairs for Africa, Bienvenu Agbokponto Soglo, expressed his commitment to deepening Intel’s engagement with African governments.
His vision is to democratize access to cutting-edge technologies like AI, dismantling barriers based on location, gender, and ethnicity, and fostering inclusive participation in the digital economy.
Ousmane Fall, Acting Director of Industrial and Trade Development at the AfDB, underscored the critical importance of equipping Africa’s burgeoning youth population with digital skills.
He emphasized the urgency of large-scale and rapid skill development initiatives, considering the swift evolution of digital technologies and the projected surge in Africa’s youth population to 830 million by 2050.
Ed Partners Africa, a Kenyan non-banking financial institution that specializes in providing loans to affordable private schools, has announced a $10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC).
Lipa Later, a Kenyan fintech startup that provides buy now, pay later (BNPL) financing solutions, has secured $5 million in debt funding.
A consortium of leading institutions, including the SA SME Fund, the Department of Science and Innovation (DSI), the Technology Innovation Agency (TIA), and E Squared Investments, has launched a R300 million (approximately $17 million) seed fund aimed at supporting tech startups in South Africa.
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