SEOUL — Somalia’s Minister of Finance, Bihi Iman Ige, delivered a key address at the 8th Korea-Africa Economic Cooperation Forum (KOAFEC) in Seoul, focusing on the role of technology and infrastructure in accelerating Africa’s economic transformation.
This year’s forum was held under the theme, “Harnessing Artificial Intelligence (AI) to Develop Economic Infrastructure and Accelerate Africa’s Transformation.”
The high-level gathering brought together finance ministers and senior economic officials from across Africa to discuss how emerging technologies, particularly artificial intelligence, can be used to strengthen economic development, infrastructure and digital connectivity across the continent.
Minister Bihi Iman Ige emphasized that Africa’s ambitions should go beyond simply adopting AI technologies. He stressed the need for African countries to work collectively to build the infrastructure required to support sustainable economic growth and long-term technological transformation.
He highlighted the importance of reliable energy systems, fiber-optic networks, data infrastructure and accountable financial systems, describing them as essential foundations for Africa’s digital transformation and economic development.
The minister also highlighted Somalia’s strategic geographic position and rapidly developing digital economy, saying the country has an opportunity to position itself as a digital gateway connecting Africa by leveraging its location and expanding digital infrastructure.
Bihi Iman Ige further underscored the importance of regional integration and economic cooperation, pointing to the Horn of Africa Integration (HoAI) framework as a potential mechanism for strengthening connectivity, trade and economic cooperation among countries in the region.
The 2026 Korea-Africa forum also marks the 20th anniversary of the establishment of the KOAFEC platform in 2006.
Over the past two decades, KOAFEC has served as a platform for strengthening economic cooperation between South Korea and African countries, bringing together governments, businesses and development institutions to promote investment, knowledge exchange and economic partnerships.
The forum provides an important opportunity for participating countries to exchange ideas, build strategic partnerships and explore new opportunities aimed at promoting sustainable economic growth and development across Africa.
