Bank Windhoek’s annual stakeholder engagement session took place at the Hilton Hotel in Windhoek on Tuesday.
While embracing the dawn of a new era defined by artificial intelligence’s (AI) swift and seismic transformation, the event explored how AI reshapes industries, challenges old paradigms.
It presents stark choices to embrace or retreat from it.
“Africa stands at the crossroads of this revolution. The decisions we make today will echo for generations to come. We must not simply adopt AI but shape, define and ensure that it serves our people, economies and aspirations. We must harness its potential – not as an instrument of dependency but as a force for sovereignty, innovation and sustainable growth,” said Bank Windhoek’s managing director Baronice Hans.
She revealed that Bank Windhoek will develop AI-driven solutions that honour its values, protect data privacy and expand access to financial services.
“We will ensure that, in the pursuit of progress, we never lose sight of the fundamental principles that define us: integrity, trust and being a responsible corporate citizen”. Programme director at the University of Numerique in Senegal and member of the United Nations (UN) secretary general of High-Level Advisory Body on AI Seydina Moussa Ndiaye delivered the keynote address, titled ‘Africa Stands at the Crossroads of the AI Revolution; We Must Shape Our Destiny by Crafting AI Strategies that Safeguard our Sovereignty’.
He noted that AI has existed since 1948, urging Africa to transition from consuming AI to producing AI. With Africa’s potential to influence AI, he said it is vital to understand that data is at the heart of it.
Ndiaye said as Africans collect and manage data, they can create relatable AI tools and strategies to drive sustainable growth, empower businesses and build a more inclusive digital economy.
“When AI is built with local data and is uniquely tailored to the African context, including culture and way of thinking, AI can solve African problems across various sectors,” he stated.
Ndiaye added that it is vital that the banking sector aggressively adopts ethical AI to remain trustworthy and competitive in a world where AI rapidly progresses and evolves.
Bank Windhoek’s digital data and customer transformation executive officer Ryan Geyser said the urgency and importance of AI in shaping Africa’s future are visible.
“We must continue to collaborate, learn and take decisive action to shape our AI-driven future that is inclusive, ethical and beneficial to all,” he stated.
He said in Africa’s volatile geopolitical landscape, “it is important for us as Africans to solve our own problems. AI gives us an avenue to explore that possibility”.
The Bank Windhoek’s Annual Stakeholder Engagement Session brings together the bank’s customers to discuss a topic of great significance in today’s global economic landscape.
Bank Windhoek’s ambition is to reinforce being Connectors of Positive Change in order to collaborate and partner with customers to understand and add value to their business.