IMF/World Bank Annual Meetings: Africa must help shape global AI rules – BoG Governor

Bank of Ghana (BoG) Governor, Dr Johnson Asiama, has urged the International Monetary Fund (IMF) to strengthen its support for Africa’s digital transformation and help secure a stronger voice for the continent in shaping global digital rules.

He said countries needed practical assistance to develop systems for artificial intelligence (AI) governance, supervisory technology, cybersecurity and digital risk management.

“This will allow Africa not only to harness AI, but to adapt, govern, and innovate with it for resilience and inclusive growth,” he said during the African Caucus Meeting today.

Dr Asiama made the call during the second round of a governors’ meeting on Africa’s digital sovereignty and AI for structural transformation, held on the sidelines of the IMF/World Bank Annual Meetings.

He urged the IMF to deepen its analysis of the links between AI, digital transformation and macro-financial stability.

This, he said, should include integrating relevant AI issues into the Fund’s surveillance work and Financial Sector Assessment Programmes (FSAPs), while examining their implications for productivity, employment, financial resilience and inclusive growth.

The Governor also called for greater policy coordination on data governance, digital trade and cross-border AI regulation.

He urged the IMF to help mobilise affordable financing for secure digital public infrastructure and efforts to narrow the digital divide.

Dr Asiama stressed that the responsible use of AI was essential to advancing Africa’s structural transformation, economic resilience and long-term development.

“AI is already reshaping productivity, competitiveness, governance, and finance. Africa has taken giant leaps in digital payments, ID systems, AI-enabled financial services, and fintech,” he said.

However, he cautioned that gaps in regulatory capacity, cybersecurity, infrastructure and financing continued to limit the safe and inclusive use of these technologies.

He warned that Africa risked falling further behind without urgent, coordinated action, making a stronger partnership with the IMF essential.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.