What: 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference
Who: The African Development Bank Group, the Ministry of Finance and Economy of the
Republic of Korea (MOFE), and the Export-Import Bank of Korea (KEXIM)
When: 8-11 September 2026
Where: Grand Walkerhill Seoul, Republic of Korea
The African Development Bank Group, the Ministry of Finance and Economy of the Republic of Korea (MOFE), and the Export-Import Bank of Korea (KEXIM) invite members of the media to the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, the flagship platform for Korea-Africa economic partnership, which this year marks 20 years of strategic cooperation.
Held under the theme "Harnessing AI and Digital Infrastructure for Africa's Transformation", the conference will bring together one of the largest gatherings of African and Korean policymakers and development partners in KOAFEC's history.
Expected participants include:
- Representatives from Ministries responsible for Finance and for ICT;
- Governors and senior officials of the African Development Bank Group;
- Senior officials from the Government of the Republic of Korea;
- Development partners and multilateral institutions;
- Private sector leaders, investors, innovators and Africa's startup ecosystem.
The conference will also mark the first official visit to the Republic of Korea by Dr Sidi Ould Tah as African Development Bank Group President. He will join Korea's Deputy Prime Minister and Minister of Finance and Economy, H.E. Koo Yun-cheol, to open the Ministerial Dialogue.
Why KOAFEC Ministerial Conference 2026 Matters
As artificial intelligence reshapes the global economy, Africa has a unique opportunity to leapfrog traditional development pathways. The African Development Bank estimates that AI could add up to US$1 trillion to Africa's GDP by 2035, provided the continent invests in digital infrastructure, affordable connectivity, reliable electricity, skills development and enabling policies.
KOAFEC Ministerial Conference 2026 will focus on mobilising finance and partnerships to accelerate Africa's digital transformation and AI readiness. It will culminate in new partnership agreements, co-financing commitments, and investment initiatives that advance sustainable economic growth across the continent.
The conference will conclude with the adoption of a Joint Declaration outlining a shared vision and practical pathways to further deepen the Korea-Africa Economic Cooperation partnership. The declaration is expected to reaffirm the commitment of the Republic of Korea, the African Development Bank Group and African countries to expand cooperation in priority areas, including digital transformation, artificial intelligence, energy, infrastructure, trade, private sector development and human capital.
Twenty Years of KOAFEC Partnership
The KOAFEC Ministerial Conference was launched in 2006 as a biennial high-level policy dialogue platform between the Republic of Korea and the African Development Bank Group. Seven Ministerial Conferences were held between 2006 and 2023, and the 8th Conference in 2026 will mark the 20th anniversary of KOAFEC.
Since its establishment in 2007, the KOAFEC Trust Fund has become the African Development Bank Group's largest active bilateral trust fund. Approximately US$50 million in project preparation support has catalysed an investment pipeline exceeding US$4 billion and mobilised around US$2 billion in financing for projects spanning energy, agriculture, digital transformation, transport, natural resources and private sector development.
The partnership has delivered tangible results, including:
- Digital innovation for disaster management in Mozambique;
- ICT capacity development in Cabo Verde;
- Support for more than 1,300 startups and entrepreneurs, benefiting over 1,200 businesses and helping create more than 5,000 jobs;
- Major energy investments under the Korea-Africa Energy Investment Framework (KAEIF);
- Groundbreaking research into Africa's AI potential, providing the evidence base for the 2026 ministerial discussions.
Additional information on media accreditation and programme highlights will be announced in the coming weeks.
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