Cyber resilience key to Africa’s digital growth, Mastercard whitepaper finds
A new Mastercard whitepaper warns that while Africa's digital economy is expanding rapidly, cyber threats are growing at an even faster rate. The report calls for increased collaboration between public and private sectors to build cyber resilience.
Why it matters
As Africa's digital payments economy approaches $1.5 trillion, securing digital infrastructure is critical for sustainable economic growth.
Africa’s digital economy is growing at a remarkable speed, opening new opportunities for people, businesses, and governments across the continent.
Building strong cyber resilience will be key to sustaining that momentum, according to the new Mastercard-commissioned whitepaper, Africa’s Digital Defense Race.
The whitepaper highlights that between 2016 and 2025, mobile money users grew 5.9 times, digital banking users 4.7 times, and the e-commerce market 5.3 times.
The findings come as Africa’s digital payments economy is on track to reach USD 1.5 trillion by 2030.
However, cyber threat activity grew at a similar pace over the same period, highlighting both the growing risk facing Africa’s digital economy and the opportunity to strengthen the governance, skills, infrastructure, and collaboration needed to secure its continued growth.
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