Omotayo on Strengthening Africa’s Digital Payments Security
- Africa experienced the highest average number of cyberattacks per week per organization in 2023.
- Investment in cybersecurity has seen a notable increase over the past five years.
- Ensuring that all financial institutions can meet necessary security standards requires coordinated efforts and substantial capital.
The expansion of digital payments in Africa brings both opportunities and challenges. While investment in cybersecurity has increased, there is still work to be done to ensure all financial institutions meet necessary security standards. Harmonizing regulations and building cybersecurity skills are critical steps towards a secure digital payments ecosystem in Africa.
