Africa must reform faster to weather global shocks, seize AI opportunity

The International Monetary Fund has urged African countries to quicken reforms, implement sound macroeconomic policies and deepen regional integration to weather shocks from geoeconomic fragmentation amid growing competition for capital.

The Fund’s Managing Director Kristalina Georgieva told CNBC Africa that the continent’s greatest opportunity lay in presenting itself as a unified investment destination with deeper collaboration and more cross-border infrastructure and regional value chains.

“I see also a lot that Africa can do together,” Georgieva said from New York where she is attending the 81st United Nations General Assembly. “Collaborating and presenting not one story of one country, but that of a whole continent is the future engine of growth for the world.”