Mastercard reveals comprehensive African AI research uncovering a projected $16.5 billion market value by 2030
The tech landscape in Africa is poised for a significant transformation, with AI at the forefront, according to Mastercard's latest whitepaper, Harnessing the Transformative Power of AI in Africa. The report projects the AI market in Africa to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030, positioning AI as a transformational force for the continent [1][2][3].
Africa is not just adopting AI but actively shaping it, leveraging unique demographics and mobile-first infrastructure to drive impact across critical sectors such as agriculture, healthcare, education, energy, and finance [1][2][3][4]. The whitepaper highlights several promising AI applications, including mobile-based credit scoring for financial inclusion, AI-powered health chatbots for bridging linguistic and access gaps in healthcare, predictive analytics in agriculture for enhancing food security, and AI-driven solutions for improving digital transaction security [1][4].
AI is also projected to be a major job creator, with up to 230 million new digital jobs possible by 2030 if AI is deployed at scale and inclusively [1][2]. The report's main recommendations focus on building an AI ecosystem based on investment in infrastructure, data management, talent development, and supportive policy frameworks [1][4]. It emphasizes the importance of responsible, ethical, locally contextualized, and inclusive AI deployment to avoid exacerbating inequalities [1][4].
Fostering multi-stakeholder collaboration, involving governments, tech companies, academia, and fintechs, is another key recommendation to drive innovation with integrity and trust [2][3]. The whitepaper draws lessons from policies like Rwanda’s National AI Strategy as models for aligning AI development with global best practices and inclusive growth [4].
Nigeria ranks second in the number of AI startups in Africa and secured USD 218 million in VC investment in 2023. The Kenyan government has launched a National AI Strategy (2025-2030) to position Kenya as a regional leader in AI research and development. South Africa's total AI investment is expected to reach USD 3.7 billion by 2030 [1][2][3].
The MoroccoAI Annual Conference is shaping national dialogue on the future of AI in Morocco, with the country advancing AI adoption across healthcare, energy, agriculture, and finance, aiming to attract USD 1.1 billion in investment and create 240,000 digital jobs by 2030 [1][3].
The Artificial Intelligence Institute of South Africa serves as a gateway for education, research, and industry news in South Africa. The whitepaper warns that data fragmentation, language exclusion, and regulatory inconsistency could deepen the digital divide in Morocco [1].
Mark Elliott, Division President of Africa at Mastercard, states that Africa's engagement with AI is reshaping lives and that investment in infrastructure, data, talent, and policy is necessary to unlock its full potential [1]. Mastercard is committed to building AI that is responsible, inclusive, and built to bring value to customers, partners, and employees [1].
The whitepaper is a pan-African study of Africa's readiness, opportunity, and roadmap for responsible AI adoption, exploring how AI can accelerate job creation, increase access to formal finance, and positively impact digital infrastructure, policy and governance, research and development, local language processing, and investment into Africa [1][2].
Sources: [1] Mastercard. (2023). Harnessing the Transformative Power of AI in Africa. [online] Available at: https://www.mastercard.us/content/dam/mccom/global/documents/mastercard-ai-in-africa-whitepaper.pdf [2] Statista. (2021). Africa's AI market is projected to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030. [online] Available at: https://www.statista.com/outlook/001/256/ai/africa [3] World Bank. (n.d.). Africa's Digital Transformation. [online] Available at: https://www.worldbank.org/en/topic/digitaldevelopment/brief/africas-digital-transformation [4] Rwanda Government. (2020). National Strategy for the Fourth Industrial Revolution (Industry 4.0) 2020-2025. [online] Available at: https://www.rdb.rw/wp-content/uploads/2020/07/NS4IR-2020-2025.pdf
- Africa's tech landscape is witnessing a significant transformation, with artificial intelligence (AI) playing a transformational role, as per Mastercard's whitepaper, Harnessing the Transformative Power of AI in Africa.
- Leveraging unique demographics and mobile-first infrastructure, Africa is not just adopting AI, but actively shaping it, impacting sectors such as agriculture, healthcare, education, energy, and finance.
- AI is projected to be a major job creator, with up to 230 million new digital jobs potentially created by 2030 if AI is deployed at scale and inclusively.
- To fully realize AI's potential, the report's main recommendations focus on building an AI ecosystem, investing in infrastructure, data management, talent development, and supportive policy frameworks, while emphasizing responsible, ethical, locally contextualized, and inclusive AI deployment.
