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Video: How Rwanda is driving Ai revolution in Africa

Published

7 months ago

April 28, 2024

In this video, the Managing Director of Rwanda’s Centre for the Fourth Industrial Revolution, Crystal Rugege, speaks on the country’s frontier role in technological revolution through Artificial Intelligence.

In an interview with IMF-Africa, Rugege revealed that the country chose digital infrastructure as one of its areas of national focus given its difficult past that now required deliberate nation-building.

“What we have seen now in terms of Rwanda’s readiness for the AI revolution is the result of those investments. Now we have 97% broadband coverage, they have invested in attracting world-class institutions like universities offering AI master degrees, and they have deployed thousands of digital ambassadors to meet people at the bottom of the pyramid to share the basic digital literacy to participate in the Ai economy,” she said.

When the Rwandan government released the National Artificial Intelligence Policy for the Republic of Rwanda in 2023, it was meant to help the East African country use AI to its full potential while also reducing its risks. Using the goals of Vision 2050, the Smart Rwanda Master Plan, and other important national plans and policies as a foundation, it gives Rwanda the tools it needs to use AI for growth that benefits everyone.

She, however, admitted that Rwanda was far from perfection in its digital journey as the exercise was a “process”. She added that other African countries needed to unlock access to public data in a structured and protected manner to encourage young innovators in the digital space.

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Video: Kenya’s Ruto targets inflation rate below 3%

Published

3 weeks ago

October 24, 2024

Ifeoluwa Dada

In this video, Kenyan President, William Ruto, stressed the economic goals of his government and charged the public to believe in the economic reforms of his administration.

Ruto also emphasized that the international community and multilateral bodies had applauded his policy direction, and urged Kenyans to join the train.

“You do have my commitment that we will be disciplined as a public sector… it my target that by next year inflation will be sub 3%”, Ruto said.

Earlier in the month, the Central Bank of Kenya slashed the benchmark rate to 12.0%, 75.0 bps down. The Central Bank’s prescribed target band for headline inflation is 2.5% – 7.5%, 5.0% being the mid-point · The last time Kenya registered <3.0% headline inflation was May 2007

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Video: Amid unpopular reforms, W’Bank chief insists Nigeria must ‘stay in course’ for 15 years

Published

1 month ago

October 15, 2024

Ifeoluwa Dada

In this video, Indermit Gill, the Vice President and Treasurer of the World Bank who also serves as the Pension Finance Administrator of the World Bank Group, at an event in Abuja, Nigeria’s capital, commended the recent fiscal and monetary reform policies of the government.

He noted that implementing such reforms was impossible without strong resolve from the political class. He also commended the central bank’s decision to raise interest rate.

The central bank has had to hike its policy rate by a huge 850 points in the last 9 months to boost confidence in the Naira and anchor inflationary expectations.

“But this is only the beginning, Nigeria will need to stay the course for at least another 10 to 15 years to transform its economy,” the World Bank chief stressed.

Gill’s remark brings to mind the age-long argument on the actual interest of multilateral bodies in their engagements with developing countries, largely African states, whether through loans or policy framework. Some have argued that the institutions are only bent on impoverishing the continent through policy positions like the removal of subsidy and the devaluation of currencies, both of which Nigeria under the current administration has done under two years— leading to unprecedented inflation rate and soaring cost of living.