Africa risks falling further behind without urgent action on AI and digital governance – Dr Asiama

Bank of Ghana Governor Dr Johnson Asiama has urged for immediate and collective efforts to boost Africa's digital competence, warning that deficiencies in regulatory authority, cybersecurity, infrastructure, and financing could see the continent lagging behind in the global artificial intelligence (AI) evolution. Delivering remarks during the second round of Governors' interventions at the 2026 African Caucus Meeting with the Managing Director of the International Monetary Fund (IMF) in Bangkok, Thailand, Asiama highlighted the critical role of Africa's digital autonomy and the responsible use of AI in driving structural improvement, economic robustness, and sustained development.

He pointed out that AI is already transforming productivity, competitiveness, governance, and finance. While acknowledging Africa's progress in digital payments, identification systems, AI-driven financial services and financial technology, Asiama cautioned that ongoing shortcomings in regulatory capacity, cybersecurity, infrastructure, and funding continue to hamper the secure and inclusive utilization of these technologies.

He warned that without prompt and coordinated action, Africa risks falling even further behind. Asiama emphasized the importance of a stronger collaboration between African nations and the IMF to enable the continent to reap the full benefits of emerging technologies. He called on the Fund to intensify customized capacity-building assistance to aid African countries in enhancing AI governance, supervisory technology, cybersecurity, and digital risk management systems.

Asiama also urged the IMF to bolster a stronger African perspective in shaping worldwide digital norms and standards, ensuring Africa is prepared not only to adopt AI but also to manage, govern, and innovate with it to advance its development goals. He advocated for the IMF to enhance its analysis of AI's impact on macro-financial stability, integrating AI-related elements into the Fund's economic surveillance activities and Financial Sector Assessment Programs (FSAPs).

Asiama also requested the Fund to deepen its investigation of AI's effects on productivity, employment, financial resilience, and inclusive growth, while fostering greater policy consistency in data governance, digital trade, and cross-border AI regulation. Focusing on financing, he stressed the necessity to raise affordable resources for secure digital public infrastructure and initiatives aimed at reducing the digital gap.

This investment, according to Asiama, is essential for ensuring African countries can actively participate in the global digital economy and leverage AI for sustainable development. His intervention, under the theme "Africa's Digital Sovereignty and AI for Structural Transformation: Advancing Capabilities and Deepening the Fund's Support," underscored the need for greater international cooperation, effective regulation, and sustainable investment to ensure AI and digital transformation yield broad-based economic benefits for Africa.