Financing Artificial Intelligence Infrastructure: Mapping AI Infrastructure Investment and Compute Governance Across Africa
Current AI governance frameworks disproportionately emphasize the geographic accessibility of computational power while neglecting the underlying dynamics of capital flows, ownership structures, and control mechanisms, thereby falling short of achieving genuine compute equity. This study systematically examines 46 AI infrastructure projects across Africa between 2019 and 2025, representing a total investment of $12.7 billion, integrating systematic literature review, publicly available data, and a value chain analysis framework. It reveals that 73% of funding is concentrated in capital and physical infrastructure, with compute control heavily centralized among a few global technology giants, and investments markedly clustered in South Africa, Kenya, Nigeria, and Egypt. Introducing the concept of “asymmetric interdependence,” this work advocates for incorporating capital, ownership, and control dimensions into compute governance to transcend the prevailing paradigm centered solely on technological access.