Africa’s digital transformation is set to gain new momentum as Korea and African partners expand cooperation around artificial intelligence, infrastructure, investment and technology-driven job creation.
The 8th Korea-Africa Economic Cooperation Ministerial Conference will take place in Seoul from 8 to 11 September, marking 20 years of cooperation through the KOAFEC partnership.
Held under the theme “Harnessing AI and Digital Infrastructure for Africa’s Transformation,” the conference will bring together African ministers, Korean government officials, development partners, investors, private sector leaders, innovators and start-up founders.
The discussions will focus on translating Korean expertise in artificial intelligence, ICT, digital infrastructure, energy, manufacturing and innovation into practical opportunities aligned with Africa’s development priorities.
The conference comes as the partnership points to measurable results from its existing investment and development programmes.
Since its creation in 2007, the KOAFEC Trust Fund has provided approximately $50 million in project preparation support. According to the African Development Bank Group, this has helped generate an investment pipeline exceeding $6 billion and mobilise around $4 billion in financing.
Projects supported through the partnership span energy, agriculture, infrastructure, digital transformation, natural resources and private sector development.
The partnership has also 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 outcomes provide the foundation for the next phase of cooperation, with greater emphasis expected to be placed on using technology and investment to build African industries, businesses and employment opportunities.
African Development Bank Group President Dr Sidi Ould Tah will lead the Bank’s delegation to Seoul during his first official visit to the Republic of Korea since taking office in September 2025.
For the Bank, the next phase of the partnership is closely connected to Africa’s ability to convert its young population, critical mineral resources and growing continental market into productive industries and competitive value chains.
Doing so will require greater access to finance, technology, infrastructure and skills.
The Bank estimates Africa faces an annual development financing gap of more than $400 billion. Its New African Financial Architecture for Development aims to mobilise greater levels of African and international capital to help address that gap.
KOAFEC provides one platform through which international investment and technology can be connected with African capital, businesses and development priorities.
This year’s conference is therefore expected to look beyond technology adoption alone and examine how digital transformation can contribute to local value creation, stronger businesses, skills development and employment.
The 20th anniversary will also provide an opportunity for Korea and its African partners to determine what cooperation should deliver over the next two decades.
The conference is expected to conclude with a Joint Declaration outlining a shared direction for Korea-Africa economic cooperation.
A 2027–2028 Action Plan is also expected to cover artificial intelligence and digital transformation, energy, infrastructure, trade, private sector development and human capital.
The next phase of KOAFEC will ultimately seek to bring Korean technology and investment together with Africa’s own capital, talent and markets, with the aim of creating stronger industries, businesses, jobs and shared economic value.
