Africa’s artificial intelligence (AI) market is set for explosive growth, projected to reach USD 16.5 billion by 2030, up from USD 4.5 billion in 2025. That’s according to a new Mastercard whitepaper, which explores how responsible AI adoption could accelerate the continent’s digital transformation.
The report, Harnessing the Transformative Power of AI in Africa, highlights how AI is already reshaping key industries from agriculture and healthcare to education, energy, and finance. It calls for greater investment in infrastructure, policy, and skills to ensure this growth translates into inclusive economic gains.
“Africa’s engagement with AI is already reshaping lives not only in labs, but in farms, clinics and classrooms,” said Mark Elliott, Division President, Africa at Mastercard. “To unlock its full potential, we need investment in infrastructure, data, talent, and policy. Responsible, locally rooted AI can drive inclusive growth and connect more people to opportunity.”
Mastercard notes that AI could also play a central role in boosting job creation, with as many as 230 million digital jobs projected across Africa by 2030. The technology is expected to expand access to formal finance through tools such as AI-enabled credit scoring and fraud prevention, helping bring more people into the financial system.
Across Africa, investment in AI is accelerating. South Africa attracted USD 610 million in venture capital in 2023, with total investment expected to reach USD 3.7 billion by 2030. Kenya has launched its first National AI Strategy (2025–2030), building on innovations like Tala’s AI-driven credit scoring and UlizaLlama’s maternal health chatbot which supports mothers in five local languages. Nigeria, home to the continent’s second-largest AI startup ecosystem, secured USD 218 million in funding in 2023 and is projected to reach a USD 1.4 billion AI market by 2025.
Mastercard whitepaper emphasises that Africa’s AI growth is not a distant prospect but a present reality. With the right balance of investment, policy support, and innovation, AI could become a cornerstone of Africa’s competitiveness by creating millions of jobs, driving inclusion and positioning the continent as a key player in the global digital economy.
