Africa’s AI Market Poised to Quadruple to $16.5B by 2030, Says Mastercard Report

Africa is on track to see tremendous growth in its AI economy. According to a whitepaper released by Mastercard titled “Harnessing the Transformative Power of AI in Africa,” the continent’s AI market is expected to grow from about US$4.5 billion in 2025 to US$16.5 billion by 2030.

Key Projections & Opportunity

Mastercard forecasts that up to 230 million digital jobs could be created across Sub-Saharan Africa by 2030 if AI is deployed responsibly and inclusively. The report highlights the strong potential across sectors like agriculture, healthcare, education, energy, and finance, where AI can improve efficiency, increase reach, and unlock new value.

Countries like South Africa, Kenya, Nigeria, and Morocco are seen as leading the charge due to better infrastructure readiness, stronger startup ecosystems, and more significant VC investment. For example, South Africa attracted US$610 million in AI-focused venture capital in 2023.However, the report also warns of several obstacles: talent shortages, regulatory variability, fragmented data systems, and uneven infrastructure.

Why It Matters

This forecast is more than just numbers—it underscores a potential leap in Africa’s digital transformation. Close to US$16.5B in AI market size indicates not just investor interest but also opportunities for local innovation, policymaking, and inclusive economic growth. For businesses, it suggests that AI will become central to competitive advantage, while for governments, a focus on regulation, education, and infrastructure will be essential.