The 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference will take place in Seoul, Republic of Korea, from September 8 to September 11, 2026, under the theme “Harnessing AI and Digital Infrastructure for Africa’s Transformation”.
Korea Prime Minister Han Seong-sook will officially open the gathering, which will bring together African Ministers, senior Korean officials, development partners, investors, private-sector leaders, innovators and start-up founders.
Delegates will examine how investment, technology and value creation can support Africa’s development, with discussions covering artificial intelligence, digital infrastructure, information and communications technology, energy, manufacturing and innovation.
KOAFEC was established in 2006 as a platform for economic cooperation between Korea and Africa. Founding partners include the African Development Bank Group (AfDB), Korea Ministry of Finance and Economy and Korea Export-Import Bank.
AfDB President Dr Sidi Ould Tah will lead the Bank’s delegation during Ould Tah’s first official visit to Korea since taking office in September 2025.
The programme supports Ould Tah’s Four Cardinal Points, which focus on mobilising African capital, rebuilding financial sovereignty, turning demographic growth into an economic dividend and developing resilient infrastructure and competitive value chains.
The framework includes the New African Financial Architecture for Development, designed to mobilise African and international capital towards closing the continent’s annual financing gap of more than $400 billion.
Since its establishment in 2007, the KOAFEC Trust Fund has provided about $50 million for project preparation. The support has generated an investment pipeline exceeding $6 billion and helped mobilise about $4 billion in financing.
Supported sectors include energy, agriculture, digital transformation, infrastructure, natural resources and private-sector development.
The partnership has also assisted more than 1 300 start-ups and entrepreneurs, supported over 1 200 businesses and contributed to the creation of more than 5 000 jobs.
The conference is expected to conclude with a Joint Declaration outlining future cooperation and a 2027-2028 Action Plan covering AI, digital transformation, energy, infrastructure, trade, human capital and private-sector development.
AfDB wants KOAFEC to combine Korean investment and technology with Africa’s capital, talent and markets to support industrial development, employment and value creation.
–AfDB/ChannelAfrica–
