Artificial intelligence is reshaping Ghana’s technology investment priorities, prompting debate over how the country balances spending on computing infrastructure with investment in skills, businesses and innovation.
Jeremy Hitchcock, co-founder and Partner at New North Ventures, believes Ghana’s ambitions should extend beyond building data centres to developing the skills, businesses and industries capable of creating economic value from the technology.
Speaking at an American Spaces engagement in Accra on November 4, Mr Hitchcock said investment decisions should focus on productivity and opportunities to compete beyond the domestic market.
“The answer for economic prosperity is around productivity, and it’s around net exports,” he said.
His comments draw a distinction between owning technology infrastructure and building an economy capable of using that infrastructure to develop products and services for local and international markets.
Ghana’s relatively educated population and growing technical workforce could provide a foundation for deeper development in areas where the country already has expertise, he suggested.
Mr Hitchcock identified cybersecurity and financial technology among sectors worth exploring, alongside opportunities in food production, industrial manufacturing and healthcare technology.
He encouraged Ghana to concentrate its resources on sectors with existing business activity and the potential for further growth.
He argued that government could have more impact by identifying promising private-sector activities and supporting their expansion.
Data Infrastructure And Sovereignty
The discussion also turned to concerns about Ghana’s reliance on privately owned data centres as AI increases demand for computing capacity and data storage.
Mr Hitchcock said countries should consider maintaining computing and data infrastructure within their borders while creating room for commercial operators to develop facilities that can serve multiple customers.
Multi-tenant data centres could help expand domestic capacity without requiring governments to finance and operate every facility themselves, he said.
The commercial opportunity could also extend beyond Ghana, with local providers potentially serving customers across the region and generating export revenue from digital services.
However, keeping infrastructure within national borders does not automatically guarantee data security or sovereignty. Clear policies on data ownership, access, storage and the responsibilities of private operators would remain essential.
Building The Investment Ecosystem
Mr Hitchcock also stressed the need for investment to help technology companies develop their ideas into viable businesses.
He said investors should be prepared to back entrepreneurs with business ideas that have the potential to grow and compete in the market.
Citing Lithuania’s experience, he highlighted how smaller economies can develop vibrant technology sectors by building a network of investors and venture capital funds to support emerging businesses.
Building a competitive AI industry will require Ghana to invest not only in computing infrastructure but also in technical skills, innovative businesses and financing to help local companies develop and commercialise their solutions.
