A tale of two continents is unfolding in the global development landscape as Latin America embraces a surge of private investment while Africa grapples with severe economic aftershocks from geopolitical conflict in the Middle East. 

At the recent Inter-American Development Bank meetings, an atmosphere of intense optimism prevailed, fueled by the region's 63% renewable energy matrix and the attendance of over 1,600 private sector leaders. High-impact projects such as the 2,300-mile Bi-Oceanic Corridor, designed to slash trade routes to Asia by 17 days, and the Lac Minerals initiative for lithium processing, signal a robust new era of regional integration and industrial growth.

In stark contrast, many African nations face a deepening crisis as volatility in the Middle East has driven fuel prices up by as much as 77% in cities such as Mogadishu. These inflationary pressures are devastating for informal workers and humanitarian efforts, with the World Food Programme facing skyrocketing insurance costs and delayed shipping routes that bypass the Red Sea. 

With traditional aid from the West decreasing, both regions are increasingly looking toward south-south cooperation and Gulf investments to secure their economic futures.

To dig into these stories, Business Editor David Ainsworth sits down with Devex reporters Jesse Chase-Lubitz and Ayenat Mersie for the latest episode of our weekly podcast series.

As AI models scale globally, social enterprises are increasingly working with frontier AI labs to test, adapt, and improve the technology in local contexts. This episode explores how those partnerships could determine whether AI reinforces existing inequalities — or helps close them.

This week on Devex’s Global Progress in the AI Era podcast, we are breaking down the critical shift from simply accessing artificial intelligence to owning the infrastructure it runs on, with a specific focus on how the global south can finance AI infrastructure on its own terms. From the push for "minimum viable compute" to the deployment of micro data centers, we explore how nations are moving away from being mere sites of data extraction toward becoming sovereign architects of their own technological destinies. To dig into these stories, Devex’s Catherine Cheney is joined by Jonathan Reid, Barbados minister of innovation; Kate Kallot, founder and CEO of Amini; and Alaa Murabit, managing partner at 500 Global.

As the conversation around AI often centers on the massive "gigawatt factories" of the global north, our guests argue that the real bottleneck isn’t computing capability, but institutional capacity and the underlying financing architecture. We discuss the transition from short-term pilots to durable public infrastructure, examining how strategic investment in regulators and civil servants is just as vital as the tech itself. By focusing on a three-part financing model that secures data rights and long-term maintenance, this episode explores how countries can build systems they can actually govern — ensuring that AI moves humanity forward rather than just serving as a new frontier for extraction.