Mastercard Drives Africa’s Gaming Industry Forward With Its Inaugural Esports Summit in Casablanca

Rhea-AI Summary

Mastercard hosted its first-ever Africa Esports Summit in Casablanca, strengthening its position in Africa's gaming industry. The continent represents a significant gaming market with nearly 200 million gamers, 95% playing on mobile. In-app purchases in Sub-Saharan Africa reached $778.6 million in 2022, with projections showing the industry will generate over $1 billion in consumer revenue by 2024. The summit brought together leaders from finance, technology, and gaming sectors, featuring discussions on payment solutions, mobile money innovations, and regulatory frameworks for Africa's esports ecosystem.

Positive

• Strong market potential with 200 million gamers in Africa
• Significant revenue growth potential from $778.6M to over $1B by 2024
• 95% mobile gaming penetration indicating low infrastructure barriers
• Strategic positioning in a market where 60% of population is under 25

Negative

• None.

Insights

Market Research Analyst

The gaming market expansion in Africa represents an intriguing but currently modest opportunity for Mastercard. With $778.6 million in mobile gaming purchases and a projected $1 billion in consumer revenue by 2024, this market is still in its early stages compared to Mastercard's global operations. The key strategic value lies in positioning for future growth, given that 60% of Africa's population is under 25 and 95% of nearly 200 million gamers use mobile devices.

This initiative primarily serves as a long-term market development strategy rather than an immediate revenue driver. While the gaming payments infrastructure development aligns with Mastercard's core business, the financial impact on the company's near-term performance is minimal given Mastercard's $483 billion market cap.

Mastercard reaffirms its payments technology leadership for Africa’s booming gaming sector with its first-ever esports event on the continent, highlighting Africa’s dynamic youth demographic.

CASABLANCA, Morocco--(BUSINESS WIRE)-- Mastercard has solidified its position as a leader in Africa’s rapidly growing gaming industry by hosting the company’s first-ever Africa Esports Summit in Casablanca. The event was a pivotal step in Mastercard’s broader mission to empower Africa’s esports and gaming ecosystem, emphasizing its strategic commitment to supporting digital economies and fostering the continent’s gaming landscape.

Mastercard drives Africa’s gaming industry forward with its inaugural Esports Summit in Casablanca (Photo: AETOSWire)

With a young and rapidly growing population, Africa represents one of the world’s most significant gaming markets. More than 60% of Africa’s population is under 25, a demographic primed for digital engagement. The continent’s fast-growing gaming culture is thriving, with nearly 200 million gamers, of whom 95% play on mobile. In 2022 alone, in-app purchases in Sub-Saharan Africa reached $778.6 million, and projections estimate Africa’s gaming industry will generate over USD 1 billion in consumer revenue by 2024. Mastercard’s Africa Esports Summit aligns with this momentum, as it supports gaming and esports through technology, payments innovation, and partnerships that empower the next generation of African gamers.

“As gaming gains traction across the continent, Mastercard is proud to support Africa’s young, mobile-driven population by fostering an inclusive and innovative gaming ecosystem. Through initiatives like this summit, Mastercard is not only demonstrating its commitment to this vibrant market but also enabling critical partnerships that will fuel the future of gaming in Africa. The Mastercard Africa Esports Summit is a cornerstone in our mission to enable secure, accessible payment solutions that drive economic opportunities for Africa’s digital generation,” said Mohamed Benomar, Country General Manager of North West Africa at Mastercard.

Mastercard’s strategy in Africa focuses on supporting the next generation of African gamers, creators, and developers through events, like the League of Legends World Championships, Valorant tournaments, and community-led esports championships, and partnerships with global esports brands like Riot Games. By providing resources, mentorship, and secure payment options, Mastercard supports African gamers’ journey from grassroots participation to competitive esports.

“Africa’s gaming community holds immense potential for digital innovation and financial inclusion. Through events like this summit, Mastercard is creating platforms for collaboration, elevating Africa’s unique gaming landscape, and encouraging cross-sector partnerships that will shape the future of esports in the region. We ventured into gaming as a passion in 2018, and we are now capitalising on our global expertise to connect African gamers more closely with theirs," stated Kamini Redhi, Marketing & Communications VP for Africa at Mastercard.

Drawing over numerous leaders from the finance, technology, and gaming sectors, the summit featured a series of high-impact sessions on the economic potential within the gaming sector. Speakers included Hicham El Khlifi, President of the African Esports Confederation, Andrew Lilien as Mastercard’s vice-president for Global Sponsorships, Katie Cross and David Mulhall from Riot Games, and Eniola Edun, founder of Nigerian gaming startup Gamr. The Moroccan Ministry of Youth, Culture and Communications was also represented to emphasize the role of policy in supporting esports infrastructure and promoting sustainable growth. Discussions highlighted the importance of aligning gaming with payment solutions, mobile money innovations, and the need for regulatory frameworks to support Africa’s esports ecosystem.

Hicham Khlifi said: “This summit is a landmark moment for esports in Africa. By bringing together key players from the financial and gaming ecosystems, we are laying the groundwork for a thriving esports industry across the continent. Mastercard’s leadership in driving these discussions is central in securing the investments and partnerships needed to scale the industry and support Africa’s gamers.”

Mastercard’s Africa Esports Summit also showcased Mastercard’s innovative payment technologies, tailored to Gen Z gamers seeking seamless engagement in the global gaming economy. The summit has firmly established the company’s leadership in shaping the future of gaming and payments in Africa. Moving forward, Mastercard’s presence in Africa’s gaming industry will continue to empower players, partners, and policymakers alike to bring the full potential of esports to life.

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com,
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

*Source: AETOSWire

View source version on businesswire.com: https://www.businesswire.com/news/home/20241112660674/en/

Mastercard Communications:

Kanyi L. Mwangi

Communications Director

Kanyi.Mwangi@mastercard.com

Source: Mastercard

FAQ

How much revenue is Africa's gaming industry expected to generate by 2024?

Africa's gaming industry is projected to generate over $1 billion in consumer revenue by 2024.

What percentage of African gamers play on mobile devices?

95% of African gamers play on mobile devices.

How much did in-app purchases reach in Sub-Saharan Africa in 2022?

In-app purchases in Sub-Saharan Africa reached $778.6 million in 2022.

Where did Mastercard (MA) host its first Africa Esports Summit?

Mastercard hosted its first Africa Esports Summit in Casablanca, Morocco.