Tuesday, September 30, 2025
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
  • Home
  • News
    • Politics
    • Local
    • Education
    • Agriculture
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Business
  • Sports
  • Tech
  • Opinion
No Result
View All Result
NewsCenta
No Result
View All Result

Mastercard sees Africa AI growth to $16.5bn

Mastercard projects Africa’s AI sector to reach $16.5 billion, driving innovation and digital transformation across the continent

NewsCenta by NewsCenta
September 9, 2025
in Business
0
Mastercard AI

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

Share on FacebookShare on Twitter

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.

You might also like

Treasury Bills undersubscription

Treasury Bills undersubscribed by 37.5% as Cedi weakens

September 29, 2025
China Ghana trade

China-Ghana trade hits $11.8bn in 2024

September 27, 2025

With Africa’s AI market projected to grow from $4.5 billion in 2025 to $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 $610 million in AI-focused venture capital in 2023, with total AI investment expected to reach $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 %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.

Mastercard AI
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

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 $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.

Post Views: 322
Tags: Mastercard
NewsCenta

NewsCenta

Related Stories

Treasury Bills undersubscription

Treasury Bills undersubscribed by 37.5% as Cedi weakens

by NewsCenta
September 29, 2025
0

Ghana’s Treasury bill auction ended in undersubscription last week, with investors bidding a total of GH¢3.49 billion against the government’s...

China Ghana trade

China-Ghana trade hits $11.8bn in 2024

by NewsCenta
September 27, 2025
0

Trade between Ghana and China reached a record high of US$11.8 billion in 2024, reinforcing China’s position as Ghana’s largest...

World Bank IMF

World Bank urges Ghana to quit IMF cycle

by NewsCenta
September 27, 2025
0

The World Bank has urged Ghana to chart a bold new course toward economic transformation by breaking its cycle of...

World Bank COVID

World Bank didn’t deny COVID, Ukraine war impact – APL

by NewsCenta
September 26, 2025
0

The Africa Policy Lens (APL), a think tank led by distinguished economists, has moved to clarify a growing public misconception...

Recommended

YouTube Trump Capitol

YouTube to pay $24.5m to settle Trump lawsuit over Capitol riot

September 30, 2025
Road accidents 2025

Road accidents claim 2,000 lives between January and August 2025

September 30, 2025
Heart Korle Bu

Heart disease on the rise as Korle Bu Centre records 10,000 cases

September 30, 2025

Popular Story

  • Songs Daddy Lumba

    See the list of over 200 songs Daddy Lumba released

    743 shares
    Share 297 Tweet 186
  • Gold-backed policies since 2021 driving economic gains — BoG

    714 shares
    Share 286 Tweet 179
  • 10 of top 11 causes of death killing more men in Ghana

    699 shares
    Share 280 Tweet 175
  • Bissue floors High Court and OSP at Supreme Court

    690 shares
    Share 276 Tweet 173
  • Monday, May 26, 2025 Newspaper Headlines

    684 shares
    Share 274 Tweet 171
NewsCenta

Newscenta is a Ghana-based news organisation publishing in print (The Newscenta Newspaper) and on a digital media platform (newscenta.com) dedicated to delivering timely and impactful news across various sectors, including politics, business, economy, technology, and culture.

  • About Us
  • Contact Us
  • Health
  • Education
  • Mining
  • Energy
  • Telecoms
  • Agriculture
  • Opinion
  • Trade
  • Newspaper Headlines

© 2025 All Rights Reserved NewsCenta.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Politics
    • Local
    • World
  • Entertainment
    • Celebrities
    • Music
  • Lifestyle
  • Newspaper Headlines
  • Business
  • Agriculture
  • Education
  • Sports
  • Tech
  • Opinion

© 2025 All Rights Reserved NewsCenta.

Connect with us