Mastercard Targets Africa’s $1.5 Trillion Digital Economy at Inaugural Summit
Mastercard convened payments industry leaders at its first Africa Edge summit to address infrastructure needs for the continent’s expanding digital economy. The event focused on interoperability and security systems required to support projected growth to $1.5 trillion by 2030. Industry stakeholders discussed challenges facing Africa’s iGaming and digital commerce sectors.
New Payment Technologies Demonstrated
Mastercard executed the first Agent Pay transaction in the EEMEA region during the summit. The company also launched Merchant Cloud, a platform integrating payments, artificial intelligence and security features. Both technologies target merchants operating in omnichannel environments across African markets.
Discussion panels addressed payment immediacy and business liquidity requirements. Speakers noted same-day settlement helps small businesses reduce borrowing needs and reinvest capital faster. South Africa’s real-time clearing system served as a reference model for instant payment expansion.
Regional Markets Show Varied Development
East Africa maintains leadership in mobile payment adoption. Mastercard linked services including Airtel Money, MTN Momo, Mixx by Yas and M-PESA to global payment networks. Kenya reports 91% of small and medium enterprises currently use digital payment methods. Nigeria represented 28% of African fintech companies in 2024. The country attracted nearly $400 million in fintech investment during the period. West Africa’s fintech sector continues expanding with government and banking sector collaboration.
South Africa became the first market globally to implement Mastercard’s real-time card payment solution. E-commerce in the country exceeds $830 million in 2025 based on current exchange rates. The technology provides merchants faster fund access and improved cash flow management.
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