Ghana is quickly emerging as a key player in Africa’s growing artificial intelligence (AI) market, with projections indicating substantial growth in the coming years. Eric Appiah, an IT consultant and sustainability expert, highlights the country’s potential to capitalize on the global AI surge, driven by government investment, a vibrant startup ecosystem, and a growing technological infrastructure.
“The AI market in Ghana is on track for tremendous growth,” says Appiah. “With the government’s focus on AI development, the market size is projected to be very huge. Ghana is ranked among the top African countries in terms of AI preparedness, with increasing infrastructure development and policy focus in the sector.”
Globally, the AI market is expanding at an unprecedented rate. According to a report by Grand View Research, the global AI market was valued at $136.6 billion in 2022 and is projected to grow to $1.8 trillion by 2030, with a compound annual growth rate (CAGR) of 37.3%. PwC estimates that AI could contribute up to $15.7 trillion to the global economy by 2030, surpassing the current combined output of China and India.
In Africa, the AI market is also growing rapidly. Projections suggest that Africa’s AI market will reach nearly $4.92 billion by 2025, with a CAGR of 27.43% from 2025 to 2030. By 2030, Africa’s AI market could reach a volume of $16.53 billion, with AI potentially adding $1.2 trillion to the continent’s economy.
In Ghana, AI adoption is most noticeable in sectors like agriculture and fintech. The African Development Bank estimated in 2022 that the country’s adoption of AI has grown at a rate of 28% annually since 2017. Local agricultural companies are using AI to access real-time data on weather patterns, crop diseases, and commodity prices, improving productivity and reducing losses. In the fintech space, AI is enhancing mobile payment solutions and financial services.
Appiah also points out critical trends in AI adoption within the country: “Trends in AI should include AI in finance, the use of AI for fraud detection, mobile banking improvements, AI for productivity boosts such as AI for data analysis, business writing, etc., and AI for agriculture to check for pest detection and crop yield predictions.”
Despite this growth, concerns remain about data privacy and the environmental impact of AI operations. “Currently, everyone is using AI, especially in organizations, without regard to confidentiality and private data,” Appiah warns.
“For example, sharing personal data in an Excel sheet for AI to assist with data analysis will result in sharing the data with the AI company. Awareness and company privacy laws should be made to address this. Secondly, the issue of misinformation and deepfakes is becoming prevalent. News organizations are often in a hurry to share news without adequate verification. There should be adequate fact-checking mechanisms.”
Addressing these concerns is vital to ensuring that AI benefits all sectors of society. For Ghana to truly lead in AI, Appiah believes the government must take decisive action.
