AI in Africa to Top $16.5B by 2030: Mastercard Explores Path for Continued Digital Transformation

NAIROBI, Kenya--(BUSINESS WIRE)--Aug 6, 2025--

Mastercard has today released its latest whitepaper, Harnessing the transformative power of AI in Africa, a pan-African study of the continent’s readiness, opportunity and roadmap for responsible artificial intelligence (AI) adoption. The whitepaper provides detailed insights into how AI—if deployed responsibly and inclusively—can unlock transformative outcomes across the continent’s major industries, including agriculture, healthcare, education, energy and finance.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250806752934/en/

With Africa’s AI market projected to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030 according to a recent report from Statista, the paper presents a clear case for multi-stakeholder collaboration and investment. It highlights how Africa’s unique demographics, mobile-first infrastructure and entrepreneurial spirit position it as an active architect of the future.

Mark Elliott, division president, Africa at Mastercard, commented: “Africa’s engagement with AI is already reshaping lives — not just in labs, but in farms, clinics and classrooms. To unlock its full potential, we need investment in infrastructure, data, talent, and policy. At Mastercard, we believe responsible, locally rooted AI can drive inclusive growth and connect more people to opportunity.”

The whitepaper outlines the potential positive impact of AI on digital infrastructure, policy and governance, research and development, local language processing and investment into Africa. It also explores how AI can accelerate job creation, with up to 230 million digital jobs projected by 2030, and increase access to formal finance through AI-enabled credit scoring and fraud prevention.

Greg Ulrich, chief AI and data officer, Mastercard, said: “AI is only as powerful as the trust behind it. At Mastercard, we’re committed to building AI that’s responsible, inclusive, and built to bring value to our customers, partners and employees. This isn’t just innovation—it’s innovation with integrity.”

Regional highlights covered in the whitepaper include:

South Africa: South Africa attracted USD 610 million in AI-focused venture capital in 2023, with total AI investment expected to reach USD 3.7 billion by 2030. With the highest data and infrastructure readiness in Africa, the country is solidifying its role as a continental leader in AI research and application. It is home to the Artificial Intelligence Institute of South Africa which serves as a gateway for students and professionals to access world-class education, research and industry news. National plans aim to develop up to 300 AI start-ups and train 5,000 AI professionals by 2030, creating the foundation for a vibrant, homegrown AI ecosystem.

Kenya: An emerging leader in AI innovation, Kenya has leveraged its “Silicon Savannah” status to securely deploy AI across sectors. Platforms like Tala use mobile data for credit scoring, while Jacaranda Health’s UlizaLlama, an AI-powered chatbot, provides maternal health support in five local languages. The newly launched National AI Strategy (2025–2030) outlines the government’s commitment to positioning Kenya as a regional leader in AI research and development, innovation and commercialization for socioeconomic development.

Nigeria: Nigeria ranks second in the number of AI startups in Africa and secured USD 218 million in VC investment in 2023. As one of Africa’s most dynamic AI ecosystems, Nigeria is using AI to personalize learning (Rising Academies), deliver microfinance via Kudi.ai, and strengthen governance with AI tools that monitor public fund allocation. With a $1.4 billion projected AI market size by 2025, the government’s proactive approach, combined with growing private-sector innovation, suggests promising growth in AI applications.

Morocco: An emerging AI hub in North Africa, Morocco is advancing AI adoption across healthcare, energy, agriculture, and finance. Institutions such as Mohammed VI Polytechnic University and DeepEcho are driving local innovation, while the MoroccoAI Annual Conference is shaping national dialogue on the future of AI. Under its Digital 2030 strategy, Morocco aims to attract USD 1.1 billion in investment and create 240,000 digital jobs by 2030. Despite this progress, the whitepaper warns that data fragmentation, language exclusion and regulatory inconsistency could deepen the digital divide.

Harnessing the potential of AI in Africa will be instrumental in accelerating financial inclusion and driving the continent’s digital and economic growth. Strategic collaborations between governments, fintechs, and global partners will be key to unlocking AI’s full impact.

Mastercard’s whitepaper draws on insights from leading African technologists, policymakers, academics and entrepreneurs, including interviews with UNESCO, the African Center for Economic Transformation, and fintech leaders across the region.

To download the full whitepaper, click mastercard-ai-in-africa-2025.pdf.

Editor’s Note

‘Harnessing the transformative power of AI in Africa’ has been written by White Paper Media Consulting (WPM) in partnership with the Mastercard EEMEA team. The findings and outcomes presented in this paper are based on interviews of various key stakeholders named in the report. These were put into perspective with contextual research by WPM. Markets covered include Kenya, Morocco, Nigeria and South Africa. Infographic and report design is by WPM.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

*Source: AETOSWire

Mark Elliott, Division President, Africa at Mastercard (L) and Ambassador Philip Thigo, Special Envoy on Technology in Kenya (R), at the official launch of the Mastercard whitepaper which provides insights on harnessing the power of AI in driving digital transformation. (Photo: AETOSWire)

BERLIN (AP) — European leaders are expected to cement support for Ukraine Monday as it faces Washington’s pressure to swiftly accept a U.S.-brokered peace deal.

After Sunday’s talks in Berlin between U.S. envoys and Ukrainian President Volodymyr Zelenskyy, Ukrainian and European officials are set to continue a series of meetings in an effort to secure the continent’s peace and security in the face of an increasingly assertive Russia.

Zelenskyy sat down Sunday with U.S. President Donald Trump’s special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner in the German federal chancellery in the hopes of bringing the nearly four-year war to a close.

Washington has tried for months to navigate the demands of each side as Trump presses for a swift end to Russia’s war and grows increasingly exasperated by delays. The search for possible compromises has run into major obstacles, including control of Ukraine’s eastern Donetsk region, which is mostly occupied by Russian forces.

The U.S. government late Sunday said in a social media post on Witkoff’s account after the five-hour meeting that “a lot of progress was made.”

Earlier in the day, Zelenskyy voiced readiness to drop his country’s bid to join NATO if the U.S. and other Western nations give Kyiv security guarantees similar to those offered to NATO members. But Ukraine continued to reject the U.S. push for ceding territory to Russia.

Putin wants Ukraine to withdraw its forces from the part of the Donetsk region still under its control among the key conditions for peace.

The Russian president also has cast Ukraine’s bid to join NATO as a major threat to Moscow’s security and a reason for launching the full-scale invasion in February 2022. The Kremlin has demanded that Ukraine renounce the bid for alliance membership as part of any prospective peace settlement.

Zelenskyy emphasized that any Western security assurances would need to be legally binding and supported by the U.S. Congress.

German Chancellor Friedrich Merz, who has spearheaded European efforts to support Ukraine alongside French President Emmanuel Macron and U.K. Prime Minister Keir Starmer, said Saturday that “the decades of the ‘Pax Americana’ are largely over for us in Europe and for us in Germany as well.”

“Pax Americana” refers to the U.S.’s postwar dominance as a superpower that has brought relative peace to the globe.

Merz warned that Putin’s aim is “a fundamental change to the borders in Europe, the restoration of the old Soviet Union within its borders.”

“If Ukraine falls, he won’t stop,” Merz warned during a party conference in Munich.

Macron, meanwhile, vowed Sunday on social platform X that “France is, and will remain, at Ukraine’s side to build a robust and lasting peace — one that can guarantee Ukraine’s security and sovereignty, and that of Europe, over the long term.”

Putin has denied plans to attack any European allies.

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Ciobanu reported from Warsaw, Poland.

Steve Witkoff, special envoy of the United States, leaves through a hotel garage for talks between representatives of the U.S. and Ukraine in Berlin, Germany, Sunday, Dec. 14, 2025. (AP Photo/Markus Schreiber)

German Chancellor Friedrich Merz,stands in his office in the chancellory in Berlin, Germany, Sunday, Dec. 14, 2025. (AP Photo/Maryam Majd)

Steve Witkoff, special envoy of the United States, arrives for talks between representatives of the U.S. and Ukraine, at the Hotel Adlon, in Berlin, Sunday, Dec. 14, 2025. (Kay Nietfeld/dpa via AP)

Jared Kushner, entrepreneur and former chief adviser to President Donald Trump, arrives for talks between representatives of the U.S. and Ukraine at the Hotel Adlon, in Berlin, Sunday, Dec. 14, 2025. (Kay Nietfeld/dpa via AP)

German Chancellor Friedrich Merz, right, watches Ukraine's President Volodymyr Zelenskyy arriving at the chancellory in Berlin, Germany, Sunday, Dec. 14, 2025. (AP Photo/Maryam Majd)