Investment

African AI initiative seeks to mobilise up to US$10 billion by 2035

Regional multilateral development finance institution the African Development Bank Group and the United Nations Development Programme have announced a “transformative" continental drive to accelerate responsible artificial intelligence adoption and inclusive digital economic growth across Africa.

The AI 10 Billion Initiative, as it is known, is a co-designed partnership between the Bank Group, UNDP and private partners that seeks to mobilise up to US$10 billion by 2035.

These resources will be deployed to unlock up to 40 million new jobs across the continent by 2035 via targeted investments that build AI foundations and catalyse broad-based adoption — from entrepreneurship and regional data infrastructure to policy frameworks and skills development.

The announcement was made during the recent Nairobi AI Forum 2026, held from 9-10 February in Kenya, which brought together governments, private sector leaders, development partners and tech innovators to chart pathways for AI adoption with impact.

The AI 10 Billion Initiative is guided by a June 2025 report from the Bank Group which outlines a three-phase roadmap towards AI readiness. It is anchored on the activation of five interlinked enablers: data, compute, skills, trust and capital.

There’s no doubt, as the Bank Group puts it, that AI has the potential to deliver transformational gains for Africa’s economies. Indeed, it claims that, if developed and deployed inclusively, AI could generate up to US$1 trillion in additional GDP by 2035. This may sound optimistic, but the Bank Group calls it “a realistic opportunity grounded in Africa’s demographic advantage, growing digital capacity, and sectoral reform”.

Nicholas Williams, the Bank Group’s ICT Operations Division Manager, says: “As a leading multilateral development institution, the Bank is leveraging its comparative advantage to ensure Africa is not left behind in the AI era. The AI 10 Billion Initiative paves the way for expanded partnerships and sustained investment that will accelerate AI entrepreneurship, strengthen data and infrastructure ecosystems, and support inclusive growth across the continent.”

To advance the initiative, the Bank says it will embark on a roadshow over the next 10 months to engage governments, private sector players, and development partners to forge new partnerships.



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