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Mastercard Highlights Africa’s $16.5Bn AI Potential and Path to Digital Empowerment

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Mark Elliott, Division President, Africa at Mastercard (L) and Ambassador Philip Thigo, Special Envoy on Technology in Kenya (R), at the official launch of the Mastercard whitepaper which provides insights on harnessing the power of AI in driving digital transformation
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Mastercard has today released its latest whitepaper, Harnessing the transformative power of AI in Africa, a pan-African study of the continent’s readiness, opportunity and roadmap for responsible artificial intelligence (AI) adoption.

Mark Elliott, Division President, Africa at Mastercard (L) and Ambassador Philip Thigo, Special Envoy on Technology in Kenya (R), at the official launch of the Mastercard whitepaper which provides insights on harnessing the power of AI in driving digital transformation

The whitepaper provides detailed insights into how AI—if deployed responsibly and inclusively—can unlock transformative outcomes across the continent’s major industries, including agriculture, healthcare, education, energy and finance.

With Africa’s AI market projected to grow from USD 4.5 billion in 2025 to USD 16.5 billion by 2030 according to a recent report from Statista, the paper presents a clear case for multi-stakeholder collaboration and investment. It highlights how Africa’s unique demographics, mobile-first infrastructure and entrepreneurial spirit position it as an active architect of the future.

Mark Elliott, division president, Africa at Mastercard, commented: “Africa’s engagement with AI is already reshaping lives — not just in labs, but in farms, clinics and classrooms. To unlock its full potential, we need investment in infrastructure, data, talent, and policy. At Mastercard, we believe responsible, locally rooted AI can drive inclusive growth and connect more people to opportunity.”

The whitepaper outlines the potential positive impact of AI on digital infrastructure, policy and governance, research and development, local language processing and investment into Africa.

It also explores how AI can accelerate job creation, with up to 230 million digital jobs projected by 2030 and increase access to formal finance through AI-enabled credit scoring and fraud prevention.

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Greg Ulrich, chief AI and data officer, Mastercard, said: “AI is only as powerful as the trust behind it. At Mastercard, we’re committed to building AI that’s responsible, inclusive, and built to bring value to our customers, partners and employees. This isn’t just innovation—it’s innovation with integrity.”

Regional highlights covered in the whitepaper include:

South Africa: South Africa attracted USD 610 million in AI-focused venture capital in 2023, with total AI investment expected to reach USD 3.7 billion by 2030. With the highest data and infrastructure readiness in Africa, the country is solidifying its role as a continental leader in AI research and application. It is home to the Artificial Intelligence Institute of South Africa which serves as a gateway for students and professionals to access world-class education, research and industry news. National plans aim to develop up to 300 AI start-ups and train 5,000 AI professionals by 2030, creating the foundation for a vibrant, homegrown AI ecosystem.

Kenya: An emerging leader in AI innovation, Kenya has leveraged its “Silicon Savannah” status to securely deploy AI across sectors. Platforms like Tala use mobile data for credit scoring, while Jacaranda Health’s UlizaLlama, an AI-powered chatbot, provides maternal health support in five local languages. The newly launched National AI Strategy (2025–2030) outlines the government’s commitment to positioning Kenya as a regional leader in AI research and development, innovation and commercialization for socioeconomic development.

Nigeria: Nigeria ranks second in the number of AI startups in Africa and secured USD 218 million in VC investment in 2023. As one of Africa’s most dynamic AI ecosystems, Nigeria is using AI to personalize learning (Rising Academies), deliver microfinance via Kudi.ai, and strengthen governance with AI tools that monitor public fund allocation. With a $1.4 billion projected AI market size by 2025, the government’s proactive approach, combined with growing private-sector innovation, suggests promising growth in AI applications.

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Morocco: An emerging AI hub in North Africa, Morocco is advancing AI adoption across healthcare, energy, agriculture, and finance. Institutions such as Mohammed VI Polytechnic University and DeepEcho are driving local innovation, while the MoroccoAI Annual Conference is shaping national dialogue on the future of AI. Under its Digital 2030 strategy, Morocco aims to attract USD 1.1 billion in investment and create 240,000 digital jobs by 2030. Despite this progress, the whitepaper warns that data fragmentation, language exclusion and regulatory inconsistency could deepen the digital divide.

Harnessing the potential of AI in Africa will be instrumental in accelerating financial inclusion and driving the continent’s digital and economic growth. Strategic collaborations between governments, fintechs, and global partners will be key to unlocking AI’s full impact.

Mastercard’s whitepaper draws on insights from leading African technologists, policymakers, academics and entrepreneurs, including interviews with UNESCO, the African Center for Economic Transformation, and fintech leaders across the region.

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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BON Establishes Six Ad Hoc Committees to Modernize Broadcasting

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Broadcasting Organization of Nigeria (BON) has established six committees to help strengthen and modernize the country’s broadcasting industry.

The committees will focus on content creation, skills development, digital transformation, sustainability, policy and commercial opportunities

The initiative aims to support industry growth and improve collaboration between broadcasters, regulators and media experts

The official launch recently, was led by Tony Akiotu, president, BON and attended by media professionals, program directors, former journalists and heads of specialized media organizations.

The event brought together several prominent figures in Nigeria’s media industry, including veteran broadcaster and trainer Bimbo Oloyede, Tony Uyah of M4S TV, Kingsley Uranta of Channels Television, Ismael Sani of Platinum TV and Ibrahim Shehu of Trust TV.

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Together, they are expected to help drive innovation and support the growth of Nigeria’s broadcasting sector.

According to Akiotu, the committees are intended both to help shape industry policy and to provide a forum for dialogue between BON and broadcasting experts.

Akiotu said the ad hoc committees were intended to strengthen BON’s work and ensure that the umbrella body for Nigeria’s broadcasters played a more direct and meaningful role in developing the country’s broadcasting sector.

The six committees reflect the sector’s main priorities. The first focuses on collaboration and innovation to promote content creation.

The second is dedicated to training and talent development, while the third focuses on industry sustainability by improving the sector’s long-term financial viability.

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A fourth committee will focus on digital transformation and work with the National Broadcasting Commission (NBC) on regulatory issues.

The remaining two committees will oversee public policy advocacy and the development of sports and commercial rights to help broadcasters increase revenue and attract more investment. Together, the committees are expected to guide BON’s efforts to modernize and strengthen Nigeria’s broadcasting industry.

The committees, chaired by members of BON’s General Assembly and supported by the organization’s Secretariat, have an initial 12-month mandate that may be renewed if necessary.

They are required to submit a progress report within three months and implement approved recommendations within the following six months.

The arrangement is intended to ensure close oversight and the timely implementation of their work.

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Akiotu also reminded committee members that Nigeria pioneered television broadcasting in Africa and urged them to carry out their work with greater effectiveness and efficiency.

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NELFUND Investigates 34 Universities Over Students’ Missing Tuition Refunds

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Nigerian Education Loan Fund (NELFUND) says it is investigating about 34 tertiary institutions over allegations that they failed to refund students whose tuition fees were paid twice under the Federal Government’s student loan scheme.

The Managing Director of NELFUND, Mr Akintunde Sawyerr, disclosed this during an interview on Arise Television.

Sawyerr said the agency had deployed a five-member investigative team, including operatives of the Economic and Financial Crimes Commission (EFCC) and internal auditors, to examine the allegations.

According to him, the investigation was prompted by numerous complaints received from affected students.

“As of right now, there are 34 institutions that we are looking at closely with respect to this issue,” he said.

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Sawyerr explained that the double payment issue arose because President Bola Tinubu directed that the student loan scheme commence in the middle of an academic session instead of at the beginning.

He said the decision compelled many students to pay their tuition fees to meet registration deadlines while awaiting approval of their loan applications.

“What happened is that a lot of schools got double payment; some from the students and some from us,” he said.

“The refund process is entirely out of our hands. It is the recipient of the double payments that is obliged to make refunds to the students.”

The NELFUND boss noted that many students had borrowed money from family members, friends and other sources to pay their tuition with the expectation of receiving refunds once the loans were disbursed.

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He said while some institutions had promptly refunded affected students, others had failed to do so.

“Some have been very good at this. Others haven’t been so good at it,” Sawyerr said.

“I reserve judgement on the intentionality around it because, for some of them, they just didn’t have the process to make refunds.”

Sawyerr disclosed that NELFUND was exploring a tokenised payment system that would enable students to authorise tuition payments directly to their institutions, thereby reducing the likelihood of duplicate payments.

He said the agency deliberately chose not to disburse tuition loans directly to students to minimise the risk of fund diversion.

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“Paying the funds to the students could really lead to the temptation for them to divert and do other things,” he said.

The managing director, however, acknowledged that NELFUND lacked the statutory powers to compel institutions to refund students or prosecute officials found culpable.

He added that many frustrated students had submitted complaints not only to NELFUND but also to anti-corruption agencies, including the EFCC and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

Sawyerr also expressed concern over increases in tuition fees by some institutions following the introduction of the student loan scheme.

He said NELFUND had declined to pay institutions that increased their tuition fees beyond acceptable levels.

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“Some schools, because they get paid easily, started to put up their fees. We refused, point blank, to pay institutions who had hiked their fees beyond a certain level,” he said.

He reaffirmed the agency’s commitment to investigating every reported irregularity and strengthening the implementation of the student loan programme through continuous monitoring and internal reviews.

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Obi, NDC Presidential Candidate Faces N50Bn Defamation Claim over Alleged Podcast Remark

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Abayomi Arabambi, national vice chairman (South-West) of the Labour Party, has demanded a public apology, a retraction, and N50 billion in damages from Peter Obi, presidential candidate of the Nigeria Democratic Congress (NDC), over an alleged defamatory statement made during a podcast interview.

Obi, NDC Presidential Candidate Faces N50Bn Defamation Claim over Alleged Podcast Remark

The demand was contained in a letter issued by the law firm Neplus Ultra Attorneys and signed by Anderson U. Asemota, Peter O. Asimegbe, and Stanley C. Eziefulle on behalf of Arabambi.

According to the letter, the legal dispute arose from comments allegedly made by Obi during the interview, where he reportedly stated that Arabambi “does not have an address.”

Arabambi’s legal team described the statement as false, malicious, and defamatory, arguing that it portrayed their client as a faceless individual without legitimacy, credibility, or standing in public life.

The lawyers further claimed that the interview was widely circulated on television stations and digital platforms, exposing Arabambi to public ridicule and damaging his reputation.

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“Our client has had a known residential and business address, maintains professional and political affiliations within Nigeria, and has never been a person whose whereabouts or identity were unknown,” the letter stated.

The legal team maintained that the alleged publication caused embarrassment and harmed Arabambi’s public image and political standing.

As part of their demands, the lawyers called for an unreserved public apology to be aired on national television, published on Obi’s verified social media platforms, and carried as full-page apologies in national newspapers.

They also demanded the payment of N50 billion as compensation for the alleged injury to Arabambi’s reputation, dignity, political standing, and public image.

 

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