A new Mastercard-commissioned report by Genesis Analytics projects that Africa’s digital payments economy will reach $1.5 trillion by 2030. Mastercard has announced initiatives to accelerate digital adoption across the continent, focusing on empowering micro, small, and medium businesses, boosting the fintech sector, and scaling cross-border payments.
The report highlights key growth drivers, including a 20% projected increase in internet penetration and a 6% rise in financial inclusion annually, indicating a significant shift towards digital transactions. Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa at Mastercard, emphasized the company’s commitment to driving digital transformation in collaboration with entrepreneurs, banks, telcos, and governments.
