South Africa’s Ministry of Communications and Digital Technologies has launched the AI Institute of South Africa, a key milestone unveiled during the inaugural AI Summit Cape Town at the 27th annual Africa Tech Festival. Held between November 12 and 14, 2024, at the Cape Town International Convention Centre, the event gathered over 15,000 attendees to explore transformative technologies shaping Africa’s future.
Hon. Mondli Gungubele, Deputy Minister of Communications and Digital Technologies, emphasised the institute’s role in positioning South Africa as a leader in AI innovation. “Let’s seize this opportunity to shape a future where AI helps us uplift our citizens, drive economic growth, and transform our society for the better while leaving no one behind,” Gungubele said, calling for collaboration among government, academia, industry, and civil society.
The AI Summit featured discussions such as Navigating AI Policy Challenges: Collaborative Approaches to Strengthen Governance in Africa, which highlighted the importance of cross-border cooperation, public-private partnerships, and ethical AI standards to ensure equitable adoption.
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A showcase of Africa’s tech potential
Organised by Informa Tech, the Africa Tech Festival included flagship events such as AfricaCom, AfricaIgnite, and AfricaTech. With over 300 exhibitors and 400 speakers, the festival provided insights into key sectors, including cybersecurity, cloud computing, green ICT, and data centre technologies.
South Africa’s Minister of Communications and Digital Technologies, Hon. Solly Malatsi, welcomed delegates and reaffirmed the host country’s dedication to bridging the digital divide. “While technology holds enormous promise, it is essential that we harness this potential in a way that can benefit all the people on the continent and the rest of the world. South Africa is honoured to play its role on this journey, both as a leader and a partner to our fellow African countries,” he said.
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Start-up resilience at AfricaIgnite
AfricaIgnite, the festival’s platform for founders and investors, highlighted funding challenges and opportunities for African start-ups. A panel titled Overcoming the Funding Winter: Strategies for Early-Stage Start-Ups explored how resilient companies secure investments and the role of accelerators in nurturing growth.
Another session, The Search for Liquidity: Navigating African Start-Up Exits, examined the dominance of mergers and acquisitions (M&A) as preferred exit strategies, especially in fintech, amid a scarcity of IPOs.
AfricaCom focused on expanding internet access across underserved areas. In a panel discussion titled Connecting Africa’s Next Billion: Scaling Africa’s Digital Infrastructure, stakeholders discussed how governments, telcos, and tech innovators can build sustainable systems to advance digital inclusion across the continent.
James Williams, Event Director of Africa Tech Festival, highlighted the event’s scale and impact. “We are seeing innovative solutions to the continent’s tech challenges and a commitment to contribute positively to growing Africa’s economic potential. The opening days have been overwhelmingly positive, with delegates engaging, networking, and sharing insights that have the potential to reshape Africa’s tech ecosystem,” he said.
With the impact of Africa Tech Festival 2024, the event has cemented its place as a cornerstone for collaboration, innovation, and advancing Africa’s digital economy.