The African Development Bank Group and the Korea Advanced Institute of Science and Technology (KAIST) have signed a letter of intent to promote digital transformation in Africa.
The agreement, signed on 9 September in Seoul, establishes a three-year framework for cooperation to strengthen African capacity in artificial intelligence (AI), digital governance, research and knowledge transfer. It was signed on the sidelines of the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference by Ousmane Fall, Director of Industrial and Trade Development at the African Development Bank, and Seung Hun Han, Dean of KAIST's Graduate School of Global Digital Innovation (GDI).
The letter of intent is based on the complementary nature of the two institutions' missions. It provides for collaboration in research and development on public policies and datasets related to AI, as well as studies and strategic advice to support African countries' digital transformation.
The partnership also emphasises capacity building, notably through training programmes for African public officials, researchers and technical experts. Drawing on KAIST's experience in training public sector executives and engineers worldwide, and on the programmes already supported through KOAFEC, this cooperation will help develop a new generation of African leaders capable of harnessing AI for development.
"This agreement marks an important milestone in our ambition to build a robust digital ecosystem in Africa, based on skills, research and innovation," said Fall. "By combining KAIST's world-class expertise with the Bank's in-depth understanding of the continent's needs, we are laying the foundations for an inclusive digital transformation driven by AI and led by Africans."
The agreement also provides for knowledge generation, technical workshops and policy dialogues, as well as the exchange of expertise between Korea and Africa on emerging technologies.
The African Development Bank estimates that artificial intelligence could contribute up to $1 trillion to Africa's GDP from 2035, representing nearly 4 percent in additional growth--provided the continent invests in five pillars of the digital ecosystem: computing power, data, skills, trust and funding.
Korea has been a member of the African Development Fund since 1980 and the African Development Bank since 1982. Established in 2007, the KOAFEC Trust Fund is currently the Bank's largest active bilateral trust fund, with cumulative Korean contributions totalling $132.82 million as at 31 May 2026. About $50 million of that, allocated to technical assistance and project preparation, has helped to finance more than 40 investment operations and programmes worth over $6 billion, and has helped mobilise at least $4 billion in additional funding. The fund has also supported more than 1,300 African start-ups and entrepreneurs, benefited more than 1,200 businesses and contributed to the creation of more than 5,000 jobs on the continent.
