By Francis Ajuonuma
Heirs Holdings Chairman and United Bank for Africa (UBA) Group Chief Executive, Tony Elumelu, has called for deliberate and coordinated global efforts to invest in Artificial Intelligence (AI) and digital infrastructure across Africa, warning that the continent risks being left behind if it fails to act decisively.
Elumelu made the call in Washington D.C. during a seminar on “Boosting Productivity Growth in the Digital Age,” held on the sidelines of the IMF/World Bank Group Annual Meetings.
He said investments in AI and digital infrastructure were crucial tools for unlocking Africa’s productivity and prosperity in the 21st century.
“When we talk about productivity in today’s age, it is really about people,” Elumelu said. “Productivity is not just about output per worker, it is about opportunity per person.”
He warned that the continent still faced significant structural barriers, including weak infrastructure, unreliable electricity, and limited access to capital.
However, he stressed that the digital era offered Africa a historic opportunity to leapfrog development stages, much like it did with mobile technology and financial inclusion.
Industry projections show that with strategic investment, AI could add between $1 trillion and $1.5 trillion to Africa’s GDP by 2030, transforming sectors such as banking, telecommunications, agriculture, and retail through automation, analytics, and digital innovation.
Economies such as Nigeria, Kenya, South Africa, and Ghana alone could generate more than $130 billion in additional value if they adopt AI-driven solutions and strengthen their data infrastructure.
Experts warn, however, that without inclusive policies, the digital transformation could widen inequality and exclude millions.
Elumelu echoed those concerns, insisting that technology must serve as a democratiser of prosperity, not a driver of disparity.
“AI must help bridge inequality gaps, not deepen them,” he said, urging development partners, multilateral institutions, and global tech firms to align their strategies toward inclusive digital growth.
Elumelu pointed to the work of his Tony Elumelu Foundation (TEF), which collaborates with partners like Google to support young African entrepreneurs with training and seed capital.
He said empowering Africa’s youth remained the surest way to transform the continent’s productivity and drive innovation.
“Our young people are energetic, eager, and willing to perform,” he said. “When we pool resources to support them, we are not just helping Africa, we are helping the world improve productivity.”
Elumelu urged governments and private investors to view AI and digital infrastructure as strategic national assets capable of driving long-term economic growth.
He noted that just as Africa pioneered mobile money innovation, it can once again lead globally in AI if decisive action is taken now.
“We revolutionised mobile money, not because systems were perfect, but because entrepreneurs innovated within constraints,” he said. “We can do the same with AI if we act decisively.”
