Luanda: Standard Bank economist F¡usio Muss¡ emphasized the need for African economies to invest in artificial intelligence (AI) to boost productivity and enhance leadership in certain production sectors. Muss¡, who oversees economic matters for Angola, Mozambique, and the Democratic Republic of Congo at the bank, argued that it's crucial for Africa to strategically position itself and establish clear objectives to participate in the evolving global economic landscape. He stressed the importance of developing human capital to enable countries to fully leverage the benefits of AI.

According to Angola Press News Agency, Muss¡ shared these insights with the media following the first edition of the "Economic Encounter" event hosted by Standard Bank Angola. He cautioned that nations failing to adopt this path might fall behind, given AI's significance in today's global economy.

Muss¡ also commended the National Bank of Angola (BNA) for its efforts to stabilize the local currency to achieve lower inflation and promote local production through subsidized interest rates. He noted that if these initiatives succeed over time, they could lead to a recovery in purchasing power.

The economist proposed revisiting the state budget in light of fluctuating oil prices on the international market. He suggested that such a revision could mitigate uncertainty in the national economy and uphold the fiscal discipline maintained in recent years, particularly in 2024, when domestic and foreign debt levels decreased due to a primary budget surplus.

The event, which convened government officials, academics, and business leaders, focused on discussing Angola's economic growth prospects beyond its reliance on oil.