Mastercard has unveiled a new whitepaper projecting Africa’s AI market will surge to $16.5 billion by 2030, up from $4.5 billion in 2025.
Launched in Nairobi, the report outlines how responsible, inclusive AI could transform sectors like agriculture, education, healthcare, energy, and finance across the continent.
Africa’s youthful population, mobile-first economy, and growing innovation hubs position it to shape its AI future rather than follow global trends.
Mark Elliott, Mastercard’s Africa division president, said AI is already reshaping lives in fields and classrooms, not just in laboratories.
He stressed the need for investment in data infrastructure, policy, and talent to unlock AI’s full potential for inclusive growth.
The whitepaper projects AI could generate up to 230 million digital jobs and expand access to finance through smart credit scoring and fraud tools.
Greg Ulrich, Mastercard’s chief AI and data officer, emphasised that trust and ethics must anchor AI innovation to ensure long-term value.
The report highlights national strategies across South Africa, Kenya, Nigeria, and Morocco aiming to build robust AI ecosystems.
South Africa is leading with advanced infrastructure and aims to support 300 AI startups and train 5,000 professionals by 2030.
Kenya’s new AI strategy supports innovations like UlizaLlama, a maternal health chatbot offering support in five local languages.
Nigeria’s thriving startup scene is using AI for microfinance, education, and governance, backed by over a$200 million in VC investment.
Morocco is focusing on AI-driven growth in healthcare, agriculture, and energy, but faces hurdles like data fragmentation and language exclusion.
The whitepaper calls for multi-stakeholder partnerships to ensure Africa’s AI journey is equitable, secure, and driven by local priorities.
Mastercard’s report features input from technologists, policymakers, and entrepreneurs, urging Africa to lead with innovation and integrity.
