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 post IN NUMBERS: Mastercard Sees 45% Growth across Africa in 2025 appeared first on Tech | Business | Economy.

The event served as a demonstration of the leading payments technology company’s ongoing commitment to the growth and development of the fintech landscape.

Fast becoming one of the industry’s most anticipated tech gatherings, the forum brought together key representatives from the fintech community, commercial banks, microfinance banks, processors, investors, regulators, and the government, to discuss critical developments and trends in the Nigerian fintech landscape, delve into Mastercard’s strides in facilitating the ecosystem’s growth, and identify potential opportunities within the industry.

Fintech companies have been at the forefront of revolutionizing various industries, serving as powerful vehicles for locally relevant solutions, financial inclusion, and innovative partnerships between financial institutions, governments, merchants, and small and medium-sized enterprises (SMEs), both globally and locally.

This transformative role is underscored by the sustained investment in the industry, with the Nigerian fintech sector witnessing a remarkable surge, receiving over $1 billion in the last two years alone – more than triple the industry’s total figure and accounting for more than one-third of the $2.7 billion invested in African fintech since July 2021.

“Mastercard’s Fintech Forum has become an avenue to advance discussions on the development of the industry in Nigeria, and we are proud to be the vehicles of this change. The discussions this year underscored the pivotal role of collaboration and innovation in shaping the future of Nigeria’s fintech landscape. Mastercard remains unwavering in our commitment to power this positive change, offer support, and lead the evolution of the industry,” said Folasade Femi-Lawal, the country manager and area business head for West Africa at Mastercard.

The event also featured a fireside chat titled “Mastercard’s Role in Fintech Ecosystem Collaboration”. During this discussion, Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa (EEMEA) at Mastercard, said: “Fintechs continue to stand as the trailblazers, pushing boundaries and reshaping industries. Their penchant for innovation is not just transformative, it is integral to the very fabric of our industry and the broader economy. Mastercard, as a driving force, is proud to champion the pivotal role of fintechs, recognizing their significance in fostering economic progress. As a leading technology provider, we will continue to innovate, and support and collaborate with them to drive locally relevant solutions and initiatives for maximized impact. We’re committed to being the catalyst that propels the ecosystem forward, facilitating a future where technology empowers individuals, businesses, and economies to participate in the global economy.”

The fireside chat was followed by a panel session titled “Digitization and Its Role in Nigeria’s Economic Development”, during which speakers delved into digitization, its role in enhancing efficiency across all sectors, opportunities, and the importance of balancing innovation and inclusivity to maximize its impact on Nigeria’s economic development.

During the session, Nasir Yammama, senior special assistant to the President, Innovation, said:

“Nigeria’s digital transformation and ever-evolving fintech and banking landscape presents exciting possibilities. The ongoing innovation boom acts as the cornerstone for advancing digital public infrastructure, fostering financial inclusion, and propelling economic growth. As always, the government remains committed to creating an enabling environment and collaborating with key industry players to drive more impactful innovations and pave the way for a future where every individual and business can thrive in a digital-first global environment through well-informed, inclusive policies and initiatives.”

Mark Elliott, division president, Mastercard Sub-Saharan Africa, closed the event and offered insights into the fintech landscape.

He emphasised the importance of the fintech industry and highlighted the significance of inclusive innovation and collaboration in driving sustained economic development.

“Mastercard is providing fintechs with the tools, resources, and support they need to thrive in the ever-evolving digital economy. Whether it’s through innovative solutions or strategic partnerships with key players in the industry, Mastercard has demonstrated its commitment to shaping the future of fintech and contributing to the growth and success of the broader ecosystem,” said Mark Elliott, Division President, Mastercard Sub-Saharan Africa.

The Mastercard Fintech Forum not only celebrated the achievements and advancements in Nigeria’s fintech sector, but also revealed a shared vision among industry leaders, which encompassed a future where strategic collaboration continues to be a driving force for positive change, innovation, and widespread financial inclusion, not only in Nigeria but on a global scale.

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