AI and Investment Drive a New Era of Korea-Africa Cooperation

African Development Bank Group President Dr Sidi Ould Tah will lead the Bank’s delegation during his first official visit to the Republic of Korea since taking office in September 2025.

Korea and Africa are preparing to deepen a 20-year economic partnership as ministers, investors, development leaders and technology innovators gather in Seoul for the 8th Korea-Africa Economic Cooperation Ministerial Conference. Taking place from 8 to 11 September under the theme 'Harnessing AI and Digital Infrastructure for Africa's Transformation,' the event will focus on using technology, investment and local value creation to support stronger industries, better jobs and broader economic opportunities across the continent.

Prime Minister Han Seong-sook will officially open the conference, which brings together African ministers, senior Korean officials, development partners, private companies, investors, entrepreneurs and start-up founders. Their discussions will examine how Korea's experience in artificial intelligence, digital networks, manufacturing, energy and innovation can be matched with Africa's growing markets, young population, natural resources and entrepreneurial talent.

Twenty Years of Cooperation Enter a More Ambitious Phase

KOAFEC was established in 2006 as the leading platform for economic cooperation between Korea and Africa, supported by Korea's Ministry of Finance and Economy, the Korea Export-Import Bank and the African Development Bank Group. This year's anniversary gives the partners a chance to measure what has worked, identify gaps that still restrict investment and build a programme suited to an era shaped by artificial intelligence, digital trade and shifting global supply chains.

African Development Bank Group President Dr Sidi Ould Tah will lead the Bank's delegation during his first official visit to the Republic of Korea since taking office in September 2025. The conference closely reflects his Four Cardinal Points strategic framework, which places greater attention on mobilising Africa's capital, rebuilding financial sovereignty, turning population growth into economic strength, and developing resilient infrastructure and competitive value chains.

A Partnership That Has Turned Preparation into Investment

One of KOAFEC's strongest contributions has come through its Trust Fund, created in 2007 and now the African Development Bank Group's largest active bilateral trust fund. Around $50 million in project-preparation support has helped create an investment pipeline worth more than $6 billion and mobilise close to $4 billion in financing for energy, agriculture, infrastructure, digital transformation, natural resources and private-sector development.

The partnership has supported more than 1,300 start-ups and entrepreneurs, reached over 1,200 businesses and contributed to the creation of more than 5,000 jobs. These results show how carefully targeted early funding can move projects beyond the planning stage, attract larger investors and create practical opportunities for communities and companies that might otherwise struggle to secure capital.

AI, Infrastructure and African Capital Shape the Next Chapter

Africa possesses many of the ingredients needed for faster economic growth, including a rapidly expanding workforce, abundant critical minerals, an increasingly connected continental market and a rising generation of technology-driven businesses. Turning those strengths into productive industries requires reliable digital and physical infrastructure, skilled workers, affordable financing and partnerships that support African value creation rather than the simple export of raw materials.

The New African Financial Architecture for Development, built around President Ould Tah's strategic framework, is designed to mobilise African and international capital while helping close the continent's annual development financing gap of more than $400 billion. KOAFEC can support that work by connecting Korean technology and investment with African institutions, businesses, talent and domestic financial resources.

The Seoul conference is expected to close with a Joint Declaration and a 2027–2028 Action Plan covering artificial intelligence, digital transformation, energy, infrastructure, trade, private-sector growth and human capital. The next phase of Korea-Africa cooperation will be judged by its ability to turn those commitments into competitive businesses, stronger value chains, quality employment and shared prosperity across both regions.