Africa’s CEOs Bet Big on AI: 71% Pump Funds into Tech and Talent

African chief executives have spoken: Artificial Intelligence tops their 2026 wishlist. A fresh KPMG survey of 400 CEOs across 15 countries shows 71% are pouring cash into AI tools and skilled workers to sharpen operations, outpace rivals, and weather storms. That figure jumps from 62% last year, making AI the single biggest growth lever on the continent. For Nigerian firms and beyond, this is not a trend—it’s a survival kit. Why the rush? Simple math. AI slashes costs and speeds decisions.

One South African retailer cut stock errors by 30% using smart forecasts. A Kenyan bank now approves loans in minutes, not days. CEOs see these wins and want more. They rank AI above green energy, trade deals, or even new factories. “Talent plus tech equals tomorrow,” says a Lagos fintech boss who just hired 12 data scientists. The numbers paint a clear picture. Eight in ten leaders plan to boost AI spending over the next three years. Half aim to retrain their entire workforce.

South Africa and Nigeria lead the charge, but smaller markets like Ghana and Rwanda are not far behind. Cloud platforms, chatbots, and predictive models dominate shopping lists. Yet hardware is not the bottleneck—people are. Only 29% of CEOs say they have enough AI-ready staff today. That gap explains the talent war heating up from Cape Town to Cairo. Cash flow tells the story. Mid-sized firms—those with $100 million to $1 billion in sales—are the fastest movers. They spend 15% of tech budgets on AI, up from 8% in 2024. Big multinationals follow, but local champions set the pace. A Johannesburg mining group uses AI drones to spot equipment faults before they halt production.

A Nairobi agritech startup predicts crop yields for 50,000 small farmers, locking in bank loans and insurance deals. These are not experiments; they are profit lines. Risks remain. Power cuts, slow internet, and high data costs still bite. One in four CEOs worries about cyber attacks on new AI systems. Regulation lags—only Egypt and Mauritius have clear AI rules. Still, optimism rules. Leaders expect AI to lift revenue 12% on average by 2028. That beats any other single investment. Talent strategy sits at the heart. CEOs plan to partner with universities, fund bootcamps, and poach from global hubs. A Moroccan telecom giant just flew 20 engineers to Singapore for a three-month AI sprint. Return-on-talent is the new ROI. Companies that train fast win the best minds and the best contracts. For African business, the message is blunt: ignore AI and fade. The continent’s GDP could gain $1.2 trillion by 2030 if adoption keeps pace, per World Bank estimates. CEOs know this. They are not waiting for perfect grids or cheap fiber. They build private clouds, lease satellite links, and share talent pools. Speed beats perfection. This shift rewrites boardroom talk. ESG still matters, but AI now steals the spotlight. Investors ask one question: “What’s your AI roadmap?” Firms without one lose funding. Those with clear plans—think Kenya’s Safaricom or Nigeria’s Flutterwave—see valuations climb. Bottom line: 2026 will separate AI natives from the rest. The 71% investing today are not gambling. They are future-proofing.

Pick one pain point—inventory, fraud, or customer chat—and pilot AI in 90 days. Results beat plans.

Hire for Hunger, Train for Skill: Grab graduates eager to learn; six-month bootcamps turn juniors into AI operators cheaper than headhunting seniors. Pool Resources: Join industry clusters or share private 5G networks; solo infrastructure kills margins.

Lock in Talent Early: Offer equity and remote stipends—top coders now choose Lagos over London for the right package. Track ROI monthly; kill pilots that don’t lift revenue 10% in six months.