The company described the growth as a major milestone that brings millions more consumers and small businesses into the continent’s fast-expanding digital economy.

This accelerated progress underscores the strong advancement of digital payments, technology, and innovation in Africa, a transformation that traditionally would have taken several years to accomplish.

The surge comes in a year defined by new market entries, significant investment, product innovation and an expanded on-ground presence, efforts that reinforce Mastercard’s role in powering Africa’s projected $1.5 trillion digital payments market by 2030.

Mastercard Deepens African Footprint with New Markets, New Teams

Over the past two years, Mastercard has accelerated its Africa expansion, opening new offices in Ghana, Uganda and Mauritius, with the aim of further markets set for launch in 2026.

The company also grew its employee base by almost 20% across the continent, strengthening local capabilities and enabling co-creation of solutions tailored to the needs of African communities and merchants.

Alongside its footprint expansion, Mastercard advanced key digital infrastructure, including tokenization upgrades, digital identity capabilities and virtual card enhancements, to bolster trust, safety and convenience across online and in-person payments.

SME Growth at the Center of Mastercard’s Business Strategy

SMEs, Africa’s economic backbone, are a top focus. With consumer spending expected to rise across major markets (Kenya 4%, Morocco 3.4%, Nigeria 6%, South Africa 1.9%), demand for digital tools has surged.

Digital payment tools are also essential for SMEs to meet evolving business needs, enabling them to pay and get paid seamlessly, access credit, strengthen financial resilience, and operate with enhanced safety and security in an increasingly digital economy.

These tools include, tap on phone solutions, the Mastercard Payment Gateway System (MPGS)- that enables e-Commerce transactions, QR Payment capabilities like QR pay by link and QR on card solutions, Point of Sale solutions and Business Payment Control Capabilities, which enable virtual card issuance.

Mastercard is helping to advance Africa’s SME ecosystem through pan-African collaborations that enable seamless cross-border payments, credit solutions, and marketplace digitization.

Fuelled by these cross-sector collaborations that include governments, FMCGs and Telcos, the company has launched 15 new SME-focused programs in the past 18 months.

Key SME milestones have included:

• South Africa: Driving financial inclusion in South Africa through our partners in the FI and Non-FI space, unlocking growth, addressing access-to-credit constraints, and empowering thousands of SMEs to scale and grow with confidence.
• Morocco: Co-developed the country’s first Digital Marketplace with BCP, the Ministry of Handicrafts and Paysky, benefiting 3 million artisans.
• Nigeria:
  • New QR-on-Card solutions with UBA and WEMA enabling 8 million SMEs and gig workers to accept seamless payments.
  • USD cards with Zenith Bank supporting 50,000+ SMEs with effortless cross-border trade.
• Kenya, Mauritius, Tanzania: Collaborations with NMB, AfrAsia, Family Bank and KCB to empower 200,000+ SMEs with digital solutions. 

Driving Financial Inclusion Across Underserved Communities

Mastercard is actively using Community Pass as part of its efforts to increase digital access in underserved and rural areas, especially in Africa. Community Pass is a social enterprise initiative that digitizes and connects remote, and rural communities to governments, NGOs, and private sector services.

As part of this initiative, Mastercard aims to register 15 million users in Africa within five years through the platform. Mastercard Community Pass has already reached 1.2 million smallholder farmers in Uganda and represents our unwavering commitment towards financial empowerment

Through the Mobilizing Access to the Digital Economy (MADE) Alliance: Mastercard and key stakeholders aim to expand access to digital services for 100 million individuals and businesses by 2034. Since launching in May 2024, the MADE Alliance has engaged in Kenya by:

• Enabling affordable high-speed internet and digital training for 13 cooperatives, reaching 10,000+ farmers.
• Launching Farm Pass deployment to digitize profiles of more than 80,000 farmers.
• Building capacity for 250,000 farmers through local cooperative partners.

Commenting, Mark Elliott, division president, Africa, Mastercard, said:

“2025 has been a defining year for Mastercard in Africa. From acceptance growth to new digital capabilities, our focus has been on solutions that bring people and small businesses into the heart of the digital economy. Our collaborations across Africa will continue to connect more people and businesses to the financial system, helping drive greater financial inclusion and economic opportunity, as we collectively look towards a $1.5 trillion digital economy by 2030.”

For Mohamed Benomar, country manager, North West Africa:

“North Africa’s expanding fintech ecosystem and strong infrastructure make it a critical engine for digital commerce. Mastercard’s investments strengthen support for governments, consumers and SMEs alike.”

Shehryar Ali, SVP & country manager, East Africa & Indian Ocean Islands, also said:

“East Africa continues to lead the world in digital financial inclusion. This year we scaled cross-border solutions, virtual cards and acceptance growth to enable more trusted digital engagement.”

Folasade Femi-Lawal, country manager, West Africa:

“West Africa is one of the continent’s fastest-growing digital corridors. Mastercard’s security-led innovations and acceptance expansion helped more SMEs and young entrepreneurs access modern payments.”

Gabriel Swanepoel, country manager, Southern Africa:

“With South Africa driving Mastercard’s real-time payments capability globally, 2025 was a breakthrough year for innovation. Our collaboration on digital identity further strengthened secure, frictionless digital commerce.”

Looking Ahead: AI to Power Africa’s Next Digital Leap

Mastercard predicts that technologies such as AI and agentic commerce will define the next era of commerce, with Africa’s AI market projected to reach $16.5 billion by 2030.

In 2026, Mastercard said it will continue advancing financial inclusion, expanding across markets and introducing more locally relevant digital solutions, all while investing in the infrastructure needed to support a more secure and connected African economy.

The new regulation is boosting competition and providing consumers with more choices, diverging from the traditional monopoly held by the Apple  App Store.

Under the DMA, third-party app stores are now able to operate alongside Apple’s, though they must adhere to certain baseline standards set by Apple to ensure platform genuity, such as being free from malware. 

However, these third-party platforms have the autonomy to establish their own policies for app approval, customer support, and refunds — areas that were previously under Apple’s strict control.

For developers, entering this new market involves accepting Apple’s alternative business terms tailored for DMA-compliant apps in the EU.

This includes a newly introduced Core Technology Fee of €0.50 for each app’s initial installation, even before reaching the threshold of one million installs, a standard that applies to all apps distributed under Apple’s terms in the EU.

Despite the complexity of these new regulations, several developers have seized the opportunity to launch their own alternative app stores. These platforms offer a range of apps, many of which were previously unavailable or restricted on the Apple App Store.

One of the leading alternatives is AltStore PAL, co-created by Riley Testut, who is also known for the Nintendo emulator app Delta. AltStore PAL allows independent developers to distribute apps, bypassing the need for Apple’s review process. Notably, this store is unique in that it enables developers to self-host their apps, giving them full control over distribution.

Setapp Mobile, developed by MacPaw, is another noteworthy alternative. This platform was built as a response to the DMA and offers a subscription-based model where users can access a curated selection of apps. The service is currently available only to users in the EU and excludes big-name apps like Facebook and Netflix.

Epic Games has also entered the fray with its own app store, offering popular titles like Fortnite, Rocket League Sideswipe, and Fall Guys. This comes after Epic’s prolonged legal issues with Apple over App Store policies, further pointing to the importance of the DMA in reshaping the app sector.

Other emerging alternatives include Aptoide, a Lisbon-based open-source app store known for its Android offerings, and Mobivention marketplace, which was built for B2B clients by providing a platform for internal corporate apps.

This is where technologies such as artificial intelligence (AI) and cybersecurity come into play, offering unique solutions to boost entrepreneurial confidence and instil trust in the integrity of their digital assets.

By leveraging AI-powered security measures and robust cybersecurity protocols, entrepreneurs can protect their sensitive information, mitigate cyber risks, and demonstrate their commitment to safeguarding their businesses from potential threats.

This essay explores how AI and cybersecurity can aid entrepreneurial confidence and empower business owners to navigate the complex landscape of digital risks and challenges.

Confidence plays a crucial role in the success of entrepreneurs. This inner belief in oneself and one’s abilities not only helps in making bold decisions and taking calculated risks but also attracts potential investors, customers, and collaborators.

Confidence enables entrepreneurs to push through challenges, pivot when necessary, and persevere in the face of setbacks.

It is a key attribute that fuels innovation, leadership, and overall business growth in the competitive world of entrepreneurship.

Delving into the essentials, confidence is a crucial factor in the success of entrepreneurship. Its impact can be observed in various ways, as it is essential for the success of any new venture.

Here we are:

Risk-taking: Confidence allows entrepreneurs to take calculated risks and make bold decisions in their business. This willingness to take risks is essential for innovation and growth in a competitive market.

Problem-solving: Confidence enables entrepreneurs to face challenges and setbacks in their business with a positive attitude. It helps them to think creatively and find solutions to overcome obstacles.

Decision-making: Confidence allows entrepreneurs to make quick and decisive decisions, especially in high-pressure situations. This can help them seize opportunities and stay ahead of the competition.

Networking: Confidence is also important for building relationships and networking with other professionals, investors, and potential clients.

It helps entrepreneurs to present themselves and their businesses in a positive light, attracting valuable connections.

Motivation: Confidence acts as a driving force for entrepreneurs, keeping them motivated and focused on their goals. It gives them the belief that they can succeed despite challenges and setbacks.

Essentially, confidence is a crucial factor in the success of entrepreneurship. It empowers entrepreneurs to take risks, solve problems, make decisions, build relationships, and stay motivated, ultimately leading to the growth and success of their ventures.

Allow me to elaborate on this with two real-life examples:

One real-life example of the impact of confidence in entrepreneurship is the story of Sara Blakely, the founder of Spanx.

Blakely started Spanx in 2000 with just $5,000 in savings and a strong belief in her idea for shaping undergarments. Despite facing numerous rejections from manufacturers, retailers, and investors, Blakely remained confident in her product and vision.

Blakely’s confidence played a significant role in her entrepreneurship journey. She demonstrated a willingness to take risks by quitting her job and investing her savings in launching Spanx.

When faced with challenges such as manufacturing issues and funding setbacks, her confidence allowed her to think creatively and find solutions to overcome these obstacles.

Blakely’s decision-making skills were also influenced by her confidence. She made strategic decisions in the early stages of her business, such as selling directly to consumers instead of going through traditional retail channels. This bold move paid off, leading to rapid growth and success for Spanx.

Additionally, Blakely’s confidence helped her build relationships and network with influential people in the industry.

She leveraged her positive attitude and charisma to pitch her product to key stakeholders, eventually securing partnerships with major retailers and gaining the support of high-profile celebrities.

Overall, Sara Blakely’s confidence was a driving force behind the success of Spanx. Her unwavering belief in her product, willingness to take risks, creative problem-solving skills, decisive decision-making, and effective networking abilities all contributed to building a multi-million dollar business empire. Blakely’s story highlights the transformative impact of confidence in entrepreneurship and serves as an inspiration for aspiring business owners.

Certainly! Another noteworthy example of the impact of confidence in entrepreneurship is the story of Elon Musk, the CEO and founder of SpaceX, Tesla, Neuralink, and The Boring Company. Musk’s unwavering self-belief and confidence in his vision for innovation and sustainability have been instrumental in the success of his ventures.

Elon Musk’s confidence played a pivotal role in his entrepreneurial journey, enabling him to push the boundaries of space exploration with SpaceX. Despite facing numerous setbacks and failures, including multiple rocket launch failures, Musk’s confidence in his vision of making space travel more accessible and cost-effective never wavered.

This self-assurance propelled SpaceX to become a leading player in the aerospace industry and secure lucrative contracts with NASA and other commercial clients.

In addition, Musk’s confidence in the electric vehicle revolution and sustainable energy solutions drove the success of Tesla.

He took bold risks, such as investing heavily in electric vehicle technology when many doubted its feasibility and remained steadfast in his commitment to creating a more sustainable transportation future. Musk’s confidence in Tesla’s mission and products has led to the company’s widespread adoption and market dominance in the electric vehicle industry.

Furthermore, Musk’s confidence in his ability to tackle complex challenges and disrupt multiple industries is evident in his ventures such as Neuralink, which aims to merge the human brain with artificial intelligence, and The Boring Company, which focuses on revolutionizing transportation through underground tunnels. Musk’s unwavering self-assurance, innovative thinking, and willingness to take risks have been essential in driving the success and growth of his diverse portfolio of ventures.

The examples of Sara Blakely and Elon Musk underscore the transformative power of confidence in entrepreneurship, demonstrating how self-belief, resilience, and bold decision-making can propel individuals to achieve remarkable success in their ventures.

Intriguingly, technology can play a crucial role in boosting entrepreneurial confidence in several ways. Here are a few ways in which technology can aid entrepreneurial confidence:

1. Access to Information:

Technology provides entrepreneurs with easy access to valuable information and resources that can help them make informed decisions.

By leveraging online tools, market research platforms, and data analytics, entrepreneurs can gather crucial insights about their target audience, industry trends, competition, and market opportunities.

This access to information can empower entrepreneurs to develop effective strategies and build confidence in their decision-making process.

2. Networking and Mentorship:

Technology facilitates networking and mentorship opportunities for entrepreneurs by connecting them with like-minded individuals, industry experts, and potential investors.

Online platforms, such as social media, networking sites, and entrepreneurship forums, enable entrepreneurs to build a strong support system, seek advice, and learn from experienced professionals.

By engaging with a diverse network of individuals, entrepreneurs can gain valuable insights, receive feedback, and enhance their confidence in navigating the business landscape.

3. Collaboration and Team Building:

Technology enables entrepreneurs to collaborate with remote teams, freelancers, and experts from different parts of the world. Through project management tools, communication platforms, and virtual meeting software, entrepreneurs can effectively manage their teams, delegate tasks, and coordinate projects in real time.

This seamless collaboration fosters a sense of connection and teamwork among team members, boosting their collective confidence in achieving common goals.

4. Automation and Efficiency:

Technology allows entrepreneurs to automate routine tasks, streamline business operations, and optimize productivity.

By leveraging software solutions, cloud-based services, and AI-powered tools, entrepreneurs can save time, reduce human error, and focus on high-impact activities.

This increased efficiency not only enhances the overall performance of the business but also instils confidence in entrepreneurs by showcasing their ability to adapt to technological advancements and drive growth.

5. Scalability and Innovation:

Technology offers entrepreneurs the opportunity to scale their businesses rapidly and explore new avenues for innovation.

By embracing digital transformation, entrepreneurs can reach a broader audience, expand their market reach, and diversify their product offerings.

This ability to adapt to technological changes and embrace innovation instils confidence in entrepreneurs to take calculated risks, experiment with new ideas, and stay ahead of the competition.

Essentially, technology can aid entrepreneurial confidence by providing access to information, facilitating networking and mentorship, enabling collaboration and team-building, enhancing efficiency through automation, and fostering scalability and innovation.

By leveraging technology effectively, entrepreneurs can empower themselves to make informed decisions, build strong relationships, optimize operations, and drive business growth with confidence.

By integrating AI and Cybersecurity into this equation, we can concurrently achieve enhanced outcomes and maximize the benefits of our business endeavours.

Here we go! AI and cybersecurity play a critical role in boosting entrepreneurial confidence by enhancing the overall security, efficiency, and reliability of business operations. Here’s how AI and cybersecurity specifically contribute to aiding entrepreneurial confidence:

1. Cybersecurity: Entrepreneurs often face cybersecurity challenges such as data breaches, phishing attacks, malware infections, and other cyber threats that can compromise sensitive information, disrupt operations, and erode customer trust.

By investing in robust cybersecurity measures, entrepreneurs can safeguard their business assets, protect their intellectual property, and ensure the confidentiality and integrity of their data.

Implementing measures such as firewalls, encryption, multi-factor authentication, and cybersecurity training can help mitigate cyber risks and build confidence among entrepreneurs, employees, and customers in the security of their digital transactions and interactions.

2. AI-powered Threat Detection: AI technologies, such as machine learning algorithms and predictive analytics, can enhance cybersecurity by enabling real-time threat detection, anomaly detection, and behavioural analysis.

By leveraging AI-powered security solutions, entrepreneurs can proactively identify and respond to potential security incidents, detect emerging threats, and mitigate risks before they escalate.

This predictive and proactive approach to cybersecurity not only strengthens the overall defence mechanism but also instils confidence in entrepreneurs that their businesses are well-equipped to handle sophisticated cyberattacks and protect sensitive information.

3. Automated Incident Response: AI can streamline incident response by automating repetitive and time-consuming tasks involved in threat detection, investigation, and mitigation.

AI-driven security tools can analyze vast amounts of data, identify patterns, and generate actionable insights to accelerate incident response and minimize downtime.

This automated incident response capability empowers entrepreneurs to respond quickly to security incidents, contain threats effectively, and mitigate potential damages to their business reputation and financial assets.

By leveraging AI for incident response, entrepreneurs can build confidence in their ability to handle cybersecurity incidents efficiently and effectively.

4. Compliance and Governance: AI and cybersecurity play a crucial role in ensuring regulatory compliance and governance by helping entrepreneurs adhere to industry standards, data protection regulations, and privacy laws.

By implementing AI-driven compliance monitoring tools, encryption protocols, and access controls, entrepreneurs can demonstrate their commitment to protecting customer privacy, securing sensitive data, and complying with legal requirements.

This adherence to regulatory compliance not only mitigates legal risks and potential penalties but also reinforces trust and confidence among stakeholders, investors, and customers in the security and integrity of the business operations.

By verismo reflection, AI and cybersecurity infusion in entrepreneurship can enhance security, threat detection, incident response, compliance, and governance, thereby boosting entrepreneurialconfidence in the protection of business assets, customer data, and reputation.

By leveraging AI technologies and cybersecurity best practices, entrepreneurs can strengthen their cybersecurity posture, mitigate cyber risks, and demonstrate their commitment to building a secure and resilient business environment.

In conclusion, the synergy between AI and cybersecurity not only equips entrepreneurs with the necessary tools and resources to bolster their confidence in navigating evolving cyber threats and security challenges but also provides a solid foundation for safeguarding their businesses.

By proactively investing in AI-driven threat detection, automated incident response capabilities, regulatory compliance monitoring, and robust governance practices, entrepreneurs can establish a formidable defence mechanism to protect critical business assets, sensitive customer data, and the reputation of their ventures.

This proactive stance towards cybersecurity not only enhances the overall security posture of the business but also fosters trust and confidence among stakeholders, investors, and customers, showcasing the integrity and resilience of entrepreneurial initiatives.

As technology continues to advance at a rapid pace, entrepreneurs must wholeheartedly embrace AI and cybersecurity as indispensable components of their business strategy to drive innovation, maintain competitiveness, and cultivate trust within the digital marketplace, propelling their ventures towards sustained success and growth.

[Featured Image Credit]

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The Writer, Prof. Ojo Emmanuel Ademola is the first Nigerian Professor of Cyber Security and Information Technology Management, and the first Professor of African descent to be awarded a Chartered Manager Status.