Artificial intelligence could reshape Africa’s economy, driving growth, innovation and inclusion, as the continent accelerates policy and infrastructure efforts to tap into an expected $15.7 trillion global AI contribution by 2030.
A report by Mastercard on Africa’s AI potential says the region’s growing use of mobile and digital tools, coupled with its young population and vast agricultural resources, provides the foundation for homegrown AI solutions. With 60% of the world’s arable land and one of the youngest demographics globally, Africa is well-placed to apply AI in ways tailored to local needs, from predictive crop analytics to mobile-based financial services.
Agriculture, a mainstay for many African economies, is seen as a priority sector. Current output is roughly 56% of the global average, but AI-powered tools for weather forecasting and crop management are already showing results. By 2050, the continent’s population is projected to expand by 800 million, making AI central to scaling production, meeting food demand and creating jobs.
In finance, AI is broadening access to banking and credit by analyzing mobile money data to assess loan risk, improving fraud detection, and enabling faster Know Your Customer checks. AI-driven payment platforms are lowering costs, simplifying onboarding, using alternative data for credit scoring, and boosting financial literacy, allowing millions to participate in the formal economy.
The policy landscape is beginning to align behind these ambitions. In April 2024, African states adopted the Kigali Declaration on Responsible AI, committing to ethical and inclusive development. Two months later, ICT ministers endorsed the Continental Artificial Intelligence Strategy and the African Digital Compact, creating a framework for coordinated growth.
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For Africa to move from consumer to creator in the global AI ecosystem, national strategies must support local innovators and reflect the diverse realities across regions. That means building electricity and data infrastructure, training skilled talent, and fostering governance that ensures AI benefits are widely shared.
