Africa can define the digital future, says Standard Bank CIO at World Economic Forum

The African continent holds a critical share of the minerals powering the digital economy, including copper, cobalt, and about 90% of global platinum reserves. These resources, combined with Africa’s renewable energy potential, 60% of the world’s best solar capacity, significant wind resources along the west coast, and geothermal energy in East Africa, position the continent to build green data centres and sustainable manufacturing hubs. In a digital age, you need data centres, and Africa’s natural endowment makes it possible to power these facilities sustainably, aligning with global climate goals.

Fischer says: “Africa is not just participating in the digital age; we have the ingredients to shape it. With bold investment, and effective partnerships, Africa will not simply join the digital future, we will help define it.”

Demographics provide another compelling advantage. Africa is the youngest continent in the world, with over 400 million people aged 15 to 35. By 2050, one in three young people globally will be African. With the right digital skills, this demographic becomes Africa’s strongest competitive advantage. Africa’s youth are not only numerous but also eager to participate in the digital economy, offering a cost-competitive talent pool for global technology firms. Standard Bank alone employs more than 5,000 technologists across 21 African countries, a testament to the depth of local expertise.

Geography and language further strengthen Africa’s position. The continent’s time zones overlap with major global markets, enabling real-time digital service delivery. As an example, African call centres serving European clients and fintech companies are gaining traction worldwide. English is widely spoken, making Africa an attractive destination for outsourcing and technology services. “Africa is already integrated into global digital value chains,” Fischer said, pointing to partnerships with leading technology firms and growing adoption of cloud and AI solutions.

Despite these strengths, there are challenges that must be addressed. Africa currently accounts for less than 1% of global data-centre capacity, despite representing 18% of the world’s population. Analysts estimate that the continent needs 700 additional data centres to meet projected data demand. Mobile internet penetration remains low at 27%, and smartphones can cost up to 95% of monthly income for low-income households. Reliable electricity is another critical gap, with only 43% of Africans having consistent access to power. Financing and regulation are make some of the opportunities harder to navigate. “Nine in ten infrastructure projects fail to reach financial close, often due to weak project preparation or policy misalignment,” Fischer said. He also noted that cross-border data restrictions and dollar-based technology costs create additional complexity. “Without reliable electricity and affordable connectivity, even the best digital vision stalls,” he emphasised.

However, these challenges are opportunities for innovation and investment. The need for data centres, for example, creates a market for green infrastructure projects that can attract climate-aligned capital. Connectivity gaps can be bridged through emerging technologies such as low-Earth-orbit satellites, which are already transforming access in rural areas. “Connectivity is no longer a theoretical barrier,” Fischer observed, pointing to solutions like Starlink and AWS Project Kuiper that can rapidly connect schools, clinics, and underserved communities.

Fischer outlined a roadmap for Africa to lead the digital future. Governments must treat digital infrastructure with the same urgency as roads and rail a century ago, prioritising fast permitting, regulatory certainty, and clear national strategies. Building Digital Public Infrastructure, digital ID systems, instant payment platforms, and secure data-exchange rails, is essential to enable inclusion and scale private-sector innovation.

Artificial intelligence represents another critical frontier. “AI levels the playing field if we shape it, or widens inequalities if we don’t,” Fischer said. He called for investment in African large language models grounded in local languages, data, and cultural values, ensuring algorithmic sovereignty and relevance.

Private-sector momentum is already visible. Banks, telcos, and technology firms are investing heavily in cloud and AI, while partnerships such as Cassava Technologies and Google demonstrate what is possible, from data-free access to AI tools to new AI factories powered by high-performance computing. Fischer highlighted Africa’s attractiveness to global investors, noting that Gulf sovereign wealth funds, which hold around 40% of global assets, are increasingly looking south. “African digital infrastructure can be positioned as investable, climate-aligned assets,” he said.

Upskilling youth and reskilling the existing workforce in AI, cybersecurity, cloud, and digital engineering is critical to harness Africa’s demographic dividend. Talent is the continents greatest multiplier.

Fischer says: “Africa must be seen not just as a consumer, but as a creator and exporter of digital solutions, home-grown platforms, green data-processing, and AI models built on African data and cultural nuance. Africa’s digital transformation is a generational opportunity.” DM