Tuesday 25/March/2025 – 07:05 PM
A report prepared by MasterCard, commissioned by Genesis Analytics, revealed that the economy of the digital payment in Africa is expected to witness steady growth, explaining that the economy of digital payments is expected to reach $ 1.5 trillion by 2030.
MasterCard expects the volume of digital payments in Africa to $ 1.5 trillion by 2030
MasterCard, as a long -term partner in Africa, continues to enhance its commitment to digital growth on the continent thanks to its strategic investments, its public and private sectors and its innovative initiatives that drive the wheel of financial and economic growth.
By strengthening cooperation channels with various major partners, MasterCard aims to expand digital communication, enhance economic opportunities, and enable millions of individuals and companies to prosper in the digital economy.
Pay the wheel of digital growth in Africa
In order to accelerate the pace of technology adoption and financial inclusion, MasterCard will enhance its investments in three main areas:
- Empowering micro, small and medium -sized companies in Africa
- Empowering the financial technology sector in Africa.
- Expand the scope of transfers and payments across the border
“Africa is full of tremendous potential, and its peoples have the ability to draw the features of the global economy in the coming decades.” MasterCard “emphasizes its firm commitment to pushing the digital transformation throughout the continent, as it works closely with entrepreneurs, traders, banks and startups Communications and governments companies.
By increasing investments, expanding the scope of innovation and enhancing financial inclusion, we help build a digital future in which communications are widely available. ”
The digital transformation in Africa is based on rapid progress in the spread of the Internet and financial inclusion, which constitute one of the fastest factors to help digital payments throughout the continent.
According to the report, the spread of the Internet in Africa is expected to witness an annual rate of 20 percent, while the financial inclusion range is expected to expand by 6 percent annually.
These trends indicate a strong shift towards digital transactions, as companies and consumers are increasingly adopting non -contact solutions, which increases the acceleration of economic participation and access to financial services throughout the region.
For his part, Mark Elliot, head of the African Affairs Department at MasterCard, said: For more than five decades, MasterCard worked alongside African governments, companies and communities to enhance financial inclusion and economic development.
In conjunction with the possibility of nine of the fastest 20 growth economies in the world in Africa, MasterCard intends to take advantage of its expertise and technologies to support the continuous digital transformation on the continent, as the company’s investments today will help build a more flexible economy for the future.
Empowering micro, small and medium -sized companies in Africa
In realizing that the small, small and medium -sized companies represent more than 50 percent of the GDP in Africa, MasterCard continues to provide digital solutions that enable small companies and pay the wheel of economic growth.
This commitment is strengthened by the “Alliance to Creating Opportunities to Digital Economy in Africa” (MADE), in partnership with the African Development Bank Group.
This initiative aims to expand digital access to vital services for 100 million individuals and company over the next ten years.
As part of its wide -ranging goal to include users to the “Community Pass” program, “MasterCard” aims to score 15 million users in Africa within five years.
