Breakdown of how AI could add $20 billion to Ghana’s economy by 2030

Speaking at the National Artificial Intelligence Strategy Consultation in Accra, Mr Akogo emphasised that AI presents a transformative economic opportunity for the country.

“In 2023, Ghana’s GDP stood at $76.37 billion. AI alone can contribute an additional $20 billion by 2030 — far surpassing traditional sectors,” he said.

He compared AI’s potential return on investment (ROI) with major revenue streams such as gold ($7.6 billion), cocoa ($1.1 billion), and oil ($1 billion), stating that AI offers up to 6.4x ROI in under seven months—making it the most lucrative investment Ghana can make at this time.

He proposed the creation of a national AI fund of between $500 million and $1 billion to fast-track innovation and strengthen Ghana’s digital economy. “We must be aggressive and strategic. AI will multiply ROI not only in tech but across all sectors—from agriculture and health to mining and finance,” he added.

The consultation, hosted by the Ministry of Communication, Digital Technology and Innovations, in collaboration with the British High Commission, brought together stakeholders from government, academia, civil society, and the private sector to discuss Ghana’s draft National AI Strategy.

The strategy is being developed by the Responsible AI Lab at the Kwame Nkrumah University of Science and Technology (KNUST), under the leadership of Prof Jerry John Kponyo, who also serves as its Principal Investigator and Scientific Director.

In his keynote address, the Minister for Communication, Digital Technology and Innovations, Hon Samuel Nartey George, declared AI a national priority. “It is not data alone, but the intelligence we apply to it that will revolutionise how we build smart cities, deliver healthcare, and deepen financial inclusion,” he noted.

The Minister announced the government’s 1 Million Coders Programme, an ambitious digital skills initiative aimed at equipping Ghanaian youth with future-ready technological competencies.

He reaffirmed the government’s commitment to providing the necessary infrastructure, fostering strategic partnerships, and instituting innovation-friendly policies that will enable the successful rollout of the national AI agenda.

Prof Kponyo outlined critical focus areas such as education, ethics, governance, industry development, and data regulation. He expressed gratitude to the Minister for his support and reiterated that RAIL considers its role in the development of the strategy a “sacred duty.”

He added that RAIL is working closely with partners across sectors to ensure that the strategy is finalised and passed by June 2025, establishing Ghana as a regional leader in responsible and inclusive AI deployment.

The consultation forms part of broader national efforts to ensure that Ghana’s digital transformation is equitable, forward-thinking, and resilient in the face of emerging technological challenges and opportunities.