G20 Summit: UAE creates an AI advantage

SOUTH Africa has managed to overcome an ongoing political spat with Washington which threatened to undermine Africa's first-ever G20 Summit.

- PETER BURDIN

Choppy geopolitical waters can, and must, be overcome in order to advance the continent's development.This year’s G20 Summit came not only at a time of geopolitical uncertainty, but at a time when Africa’s appeal to global investors is at an all-time high.

South Africa's hosting is, of course, reputationally significant, but it also demonstrates a growing recognition of Africa's increasing role on the world stage.

Washington’s absence ultimately proved to be the continent's gain as foreign investors - including those in the Gulf - competed for multi-sector opportunities as part of their own economic diversification attempts.

This would continue a trend of growing and mutually beneficial Africa-Gulf ties and should be welcomed.

Perhaps most significantly, the United Arab Emirates (UAE) announced a $1 billion initiative to expand its Al expertise across the continent in a bid to help countries meet national development priorities.

This latest development follows a string of heightened Gulf investment. Between 2013 and 2023, GCC investment into Africa almost quadrupled as public and private investors explored growing opportunities in key African markets.

On the G20 sidelines, comments by a senior UAE minister about the investment’s potential transformative impact across sectors including education and healthcare hit home with many in attendance. It signified not just intent but a genuine desire to positively transform the continent and leverage its immense potential.