Mastercard has announced plans to register 15 million users in Africa within five years, as part of its broader strategy to expand financial inclusion and strengthen the continent’s digital economy. The announcement comes in a statement issued by the company detailing its achievements and future plans.
The statement disclosed that in 2025, Mastercard’s acceptance network in Africa grew by 45%, a milestone that brings millions more consumers and small businesses into the formal digital economy. According to the company, this accelerated progress reflects an unprecedented surge in digital payments adoption, technology deployment, and innovation, a transformation that traditionally would have taken several years.
The statement quoted Mr Mark Elliott, Division President, Africa as saying that “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.
“These initiatives will drive greater financial inclusion and economic opportunity as we collectively look towards a $1.5 trillion digital economy by 2030.”
Expanding Footprint and Strengthening Local Capability
Over the past two years, Mastercard has accelerated its Africa expansion by opening offices in Ghana, Uganda and Mauritius, with additional markets slated for launch in 2026.
The company increased its employee base by almost 20%, strengthening local capabilities to co-create digital payment solutions tailored to the specific needs of African communities and merchants.
Investments in infrastructure included tokenisation upgrades, digital identity capabilities, and enhancements to virtual card offerings, all designed to improve the security, safety, and convenience of digital transactions.
“North Africa’s fintech ecosystem and strong infrastructure make it a critical engine for digital commerce,” said Mohamed Benomar, Country Manager, North West Africa.
“Mastercard’s investments strengthen support for governments, consumers and SMEs alike,” he added.
SMEs at the Center of Growth
Small and medium-sized enterprises (SMEs) form a key focus of Mastercard’s strategy, given their role as the backbone of Africa’s economy.
With consumer spending rising across major markets, including Kenya (4%), Morocco (3.4%), Nigeria (6%) and South Africa (1.9%), the demand for digital payment tools has surged.
In Nigeria, Mastercard’s QR-on-card solutions with UBA and WEMA now enable 1.8 million SMEs and gig workers to accept seamless digital payments. Zenith Bank USD cards support over 50,000 SMEs in cross-border trade.
In South Africa, partnerships with financial institutions and fintechs have addressed access-to-credit challenges, empowering tens of thousands of SMEs to scale with confidence. In Morocco, the company co-developed the nation’s first Digital Marketplace with BCP, the Ministry of Handicrafts, and Paysky, benefiting 2.3 million artisans. In Kenya, Mauritius, and Tanzania, collaborations with NMB, AfrAsia, Family Bank, and KCB have provided over 200,000 SMEs with digital tools for payments, business management, and virtual card issuance.
Folasade Femi-Lawal, Country Manager, West Africa, said “West Africa is one of the continent’s fastest-growing digital corridors. Mastercard’s security-led innovations and acceptance expansion have helped more SMEs and young entrepreneurs access modern payments and grow their businesses.”
Shehryar Ali, SVP & Country Manager, East Africa & Indian Ocean Islands, added: “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.”
Gabriel Swanepoel, Country Manager, Southern Africa, noted: “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.”
Driving Financial Inclusion in Underserved Communities
Mastercard is using Community Pass to extend access to financial services in rural and underserved communities. The social enterprise initiative connects remote populations to governments, NGOs, and private-sector services, with the goal of registering 15 million users in Africa within five years.
Community Pass has already reached 1.2 million smallholder farmers in Uganda, demonstrating Mastercard’s commitment to financial empowerment.
Through the Mobilizing Access to the Digital Economy (MADE) Alliance in Kenya, Mastercard has been actively expanding access to digital services for farmers and cooperatives.
The program has provided affordable high-speed internet and digital training to 13 cooperatives, reaching more than 10,000 farmers.
In addition, the Farm Pass initiative has digitized the profiles of over 80,000 farmers, enabling them to participate more effectively in the digital economy.
Beyond connectivity and digital records, the program has also focused on capacity building, equipping 250,000 farmers with the knowledge and skills needed to leverage digital tools for improved productivity and market access.
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