Africa’s artificial intelligence (AI) market is set for rapid expansion, with a new report by Mastercard projecting its value to surge from $4.5 billion in 2025 to $16.5 billion by 2030. The projected growth, which is driven by the continent’s young digitally connected population, mobile-first infrastructure, and multi-stakeholder investment, will create up to 230 million digital jobs.
The whitepaper, “Harnessing the Transformative Power of AI in Africa,” outlines how AI can transform the continent’s critical sectors, including education, agriculture, healthcare, finance, and energy. It also highlights the potential to enhance the continent’s digital infrastructure, research and development, policy and governance, local language processing, and financial inflows.
Countries like Kenya, Nigeria, Morocco, and South Africa are leading the charge with proactive national AI policy development and fostering vibrant startup ecosystems.
South Africa has the highest data and infrastructure readiness in Africa, establishing itself as the continental leader in AI research and application. In 2023, South Africa secured $610 million in AI-focused venture capital, and cumulative AI investments are expected to grow to $3.7 billion by 2030.
In Kenya, the government has launched the National AI strategy that positions the country as a regional leader for groundbreaking AI development, innovation, and commercialization. The East African country is evolving into an AI innovation hub, with secure implementations spanning healthcare and financial services.
Nigeria is utilizing AI to personalize learning, deliver microfinance, and strengthen governance. In 2023, the West African country secured $218 million in AI-focused venture capital.
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.
Division president, Africa at Mastercard, Mark Elliott.
Despite the projected growth, the whitepaper warns of critical gaps in infrastructure, regulation, and local talent. MasterCard emphasizes that strategic collaborations between key stakeholders, including governments, fintechs, and global partners, will be essential in unlocking AI’s full impact across the continent.
The report comes as the investment in Africa’s AI is growing. In July 2025, Google announced $37 million in cumulative contributions to support AI advancement in Africa.
