The Bank of Italy published Senior Deputy Governor Paolo Angelini’s opening remarks to the Africa Growth and Opportunity: Research in Action 2026 conference in Palermo. Energy infrastructure, artificial intelligence (AI) adoption and workforce skills must develop together for investment to produce lasting productivity gains and jobs. Africa’s labor force reached 600 million in 2025 and is estimated to more than double by 2050, increasing the need for employment and skills suited to available technologies. Energy investment faces both financing and workforce constraints. According to the International Energy Agency, financing costs for clean energy projects in Africa are two to three times higher than in advanced economies and China, largely reflecting macroeconomic and political risks and weaknesses in regulatory and institutional frameworks. Development banks can help mobilize private investment, but government policies and structural reforms are needed to reduce risk premiums. Shortages of technical expertise also make projects harder and more expensive to finance. Training institutions should work with firms to meet demand throughout the life of energy projects, measuring success by productive employment rather than trainee numbers alone. For AI, the immediate priority is effective adoption of existing technologies rather than competition to develop frontier models. Tools should reflect local languages, institutions and business practices, while deployment needs to accommodate uneven electricity, connectivity and computing capacity. Higher productivity does not automatically deliver more or better jobs, making workers’ ability to adapt central to the outcome. Digital training must build on literacy, numeracy and problem solving. Adoption also requires relevant, reliable, current and secure data.
Bank of Italy Senior Deputy Governor Paolo Angelini urges skills development alongside energy investment and artificial intelligence adoption in Africa
In opening remarks at the Africa Growth and Opportunity: Research in Action 2026 conference in Palermo, Bank of Italy Senior Deputy Governor Paolo Angelini argued that workforce capabilities must advance alongside energy infrastructure and artificial intelligence. Priorities include government reforms to lower energy financing risks and training tied to employers’ needs and employment outcomes. For artificial intelligence, Africa should focus on adapting existing tools to local conditions rather than developing frontier models, supported by foundational skills and reliable data.