"Digital transformation in Africa projected to reach $16.5 billion by 2030, with Mastercard mapping out paths for continued AI advancement"
Mastercard has released a whitepaper titled "Harnessing the Transformative Power of AI in Africa," which presents key findings and recommendations focused on the continent's AI-driven future. The report highlights Africa's active role in shaping the AI landscape, not just adopting it.
The whitepaper projects that the AI market in Africa will grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030. This growth spans critical sectors such as agriculture, healthcare, education, energy, and finance, where real-world use cases are already improving mobile-based credit scoring, healthcare chatbots, and predictive analytics in agriculture to boost food security.
AI-driven digital job creation could catalyze up to 230 million new digital jobs across Africa by 2030 if developed inclusively and at scale. Africa's unique demographics, youthful population, mobile-first infrastructure, and entrepreneurial spirit position it as a future leader in AI innovation, not just a beneficiary.
The whitepaper provides insights into how AI can unlock transformative outcomes across major African industries. South Africa, for example, is expected to have a total AI investment of USD 3.7 billion by 2030, with national plans aiming to develop up to 300 AI start-ups and train 5,000 AI professionals by 2030. Kenya has leveraged its "Silicon Savannah" status to securely deploy AI across sectors, with platforms like Tala using mobile data for credit scoring and Jacaranda Health's UlizaLlama providing maternal health support in five local languages.
Nigeria ranks second in the number of AI startups in Africa and secured USD 218 million in VC investment in 2023. The country is using AI for personalized learning, microfinance, and strengthening governance. Morocco, on the other hand, is emerging as a North African AI hub with a USD 1.1 billion digital investment plan and 240,000 new tech jobs targeted by 2030. Its AI adoption is advanced in healthcare, energy, agriculture, and finance.
The whitepaper underscores the need for multi-stakeholder collaboration and investment in Africa's AI adoption. Key recommendations include responsible AI deployment, investment in infrastructure, high-quality data, talent development, and enabling policy frameworks, development of proactive regulation and governance, and a collaborative ecosystem approach involving governments, private sector, academia, fintechs, and civil society.
Mastercard itself stresses AI as a partner in Africa’s digital transformation, applying these responsible AI principles in its own solutions, such as fraud detection and digital identity, to exemplify ethical, inclusive AI practices. The whitepaper warns that data fragmentation, language exclusion, and regulatory inconsistency could deepen the digital divide in Morocco.
In summary, the whitepaper emphasizes that AI can be a catalyst for Africa’s inclusive growth and job creation if it is responsibly developed, context-aware, well-regulated, and supported by collaborative investments in people, policies, and infrastructure.
Businesses in various sectors, such as agriculture, healthcare, education, energy, and finance, are anticipated to benefit greatly from the growth of artificial intelligence (AI) market in Africa, with its projected expansion from USD 4.5 billion in 2025 to USD 16.5 billion by 2030. This technology-driven prosperity could generate up to 230 million digital jobs across Africa by 2030, provided that it is developed inclusively at scale.
South Africa, Kenya, Nigeria, and Morocco are leading the way in AI innovation on the continent, with nations like Kenya leveraging platforms like Tala for mobile-based credit scoring and Jacaranda Health's UlizaLlama for maternal health support in local languages. Mastercard's whitepaper emphasizes the importance of ethical, responsible AI practices, multistakeholder collaboration, and supportive policies for Africa's successful AI-driven future in business and beyond.
