Africa's Digital Payments Economy to Reach $1.5trn By 2030

Africa's Digital Payments Economy to Reach $1.5trn By 2030

A recent Mastercard-commissioned report by Genesis Analytics has stated that the digital payments economy in Africa would continue to grow, with a projection that is expected to reach $1.5 trillion by 2030.

JOHANNESBURG, South Africa-- (BUSINESS WIRE) --March 25, 2025-

Kenyan firms urged to tap Africa’s $1.5tr digital payments boom

Africa’s digital payments economy is on the brink of unprecedented growth, with projections indicating it will reach $1.5 trillion (Sh194.1 trillion) by 2030, according to Mastercard. This presents a golden opportunity for Kenyan firms to tap into the sector, driving economic expansion through financial inclusion, innovation and cross-border trade. According to a Mastercard-commissioned report by […]

The Rise of Digital Payments Digital wallets allow users to securely store payment data and conduct transactions via smartphones or other smart devices. With the increasing availability of this technology, the total transaction value of the digital payments market is expected to reach $20.37 trillion by 2025. This growth is supported by several factors, including the rise of e-commerce, the spread of contactless payment terminals, and increasing…

Digital Payments Economy in Africa Expected to Reach $1.5 trillion by 2030

Africa’s digital payments economy is set to grow from strength to strength according to a Mastercard-commissioned report by Genesis Analytics stating that the digital payments economy is expected to reach $1.5 trillion by 2030.  As a longstanding technology partner to Africa, Mastercard continues to strengthen its commitment to the continent’s digital growth through strategic investments, public-private partnerships, and innovation initiatives t…

Africa's Digital Payments Economy to Reach $1.5 Trillion by 2030

Africa’s digital payments economy is set to grow exponentially, according to a Mastercard-commissioned report by Genesis Analytics stating that the digital payments economy is expected to reach $1.5 trillion by 2030.