The African Export-Import Bank (Afreximbank) has announced its sponsorship of a groundbreaking artificial intelligence (AI) pilot initiative aimed at transforming Africa and the Caribbean into formidable players within the global technology arena.The project, coordinated by the PJ Patterson Institute for Africa-Caribbean Advocacy, officially launched at The University of the West Indies (UWI), Mona campus, with plans to develop advanced AI ecosystems across both regions.- Advertisement – Dr. Gladstone Fluney Hutchinson, distinguished fellow and principal director of the African-Caribbean AI project at the Patterson Institute, is leading this transformative initiative in partnership with UWI collaborators and international stakeholders. The AI hubs are envisioned as strategic catalysts for industrial modernization, job creation, and equitable participation in the global digital economy.Key project partners recently convened at the African Export-Import Bank’s annual meetings in Abuja, Nigeria, to advance the initiative. The high-level working group included Dr. Hutchinson; Dr. Nicholas Kerr, political scientist at the University of Florida; former Jamaican Prime Minister P.J. Patterson, who serves as statesman-in-residence at the institute; and Dr. Rosalea Hamilton, CEO of the Institute of Law and Economics at the University of Technology, Jamaica.“This represents a strategic leap toward digital sovereignty and economic emancipation for peoples of African descent,” remarked former Nigerian President Chief Olusegun Obasanjo, a strong supporter of the project. “Africa and the Caribbean must no longer remain consumers dependent on global innovation. They must become co-creators.”The ambitious plan envisions the development of AI-enabled industries, training centers, semiconductor fabrication facilities, and robust data infrastructure. The strategy leverages Africa’s vast mineral resources alongside the Caribbean’s logistical advantages to create a powerful cross-continental economic alliance.Addressing the plenary session of the 32nd Afreximbank annual meetings under the theme ‘Deepening the Policy Relevance of African Multilateral Financial Institutions in a Polarised World’, Patterson issued a call for urgent, deeper Africa-Caribbean collaboration.“As one people divided only by the geography of the Atlantic Ocean, our collective interests are inextricably linked by shared challenges and common aspirations,” Patterson declared. “This is the time to move beyond mere resilience in the face of adversity. We must now strive together to prosper together.”The PJ Patterson Institute, established to promote Pan-African cooperation, will serve as the intellectual anchor for this pioneering effort.Patterson emphasized that the initiative is designed to establish a sustainable and competitive AI industry that is locally driven and globally relevant.“The goal is to spearhead generative artificial intelligence industries in Africa and the Caribbean, transforming them into knowledge-intensive, value-creating, and wealth-generating sectors,” he stated.This AI initiative aligns with Afreximbank’s broader push to strengthen Africa’s digital economy. The bank’s flagship technology accelerator, launched in April 2025, offers up to US$250,000 in equity investment to support African entrepreneurs developing innovative trade solutions. Afreximbank has also expanded its Pan-African Payment and Settlement System to 16 countries, using AI to modernize cross-border payments and agricultural financing.“Our support for this project marks a pivotal moment in building a resilient, future-ready Africa-Caribbean economy,” an Afreximbank spokesperson said. “This is leadership through innovation, creativity, and partnership—not through resource extraction.”The announcement comes as major global financial institutions significantly ramp up their AI investments. Bank of America, for example, recently committed $4 billion—nearly one-third of its entire technology budget—to AI and emerging technologies for 2025, underscoring the global race for AI supremacy.Afreximbank has also championed the adoption of AI-driven compliance and risk management systems across African financial institutions, recognizing the technology’s ability to process vast data volumes and identify anomalies that could transform the trade and financial landscapes.By focusing on local talent, cross-border partnerships, and infrastructure development, the Africa-Caribbean AI initiative aims to create a scalable, replicable model for inclusive technological advancement. Core components of the initiative include establishing semiconductor manufacturing capabilities, comprehensive AI training programs, and digital infrastructure that effectively integrates Africa’s resources with Caribbean logistics networks.Patterson underscored the urgency and strategic significance of this initiative.“We are building a technological edifice where our resources and human capital are deployed within the global economy under sovereign control,” he said. “This is about leveraging our collective assets to promote shared prosperity.”The pilot AI hubs represent the first phase of a long-term strategy to position Africa and the Caribbean as global centers of AI innovation, not merely as suppliers of raw materials. If successful, the model could serve as a blueprint for future continental technology initiatives and demonstrate that innovation leadership need not remain confined to traditional power centers.With Afreximbank’s financial commitment and the intellectual leadership of the PJ Patterson Institute, this initiative signals a decisive step toward technological self-determination for regions representing over 1.5 billion people globally.Read More
