Mastercard launches Africa cybersecurity hub as threats rise along with digital economy growth
Mastercard launches Africa cybersecurity hub as threats rise along with digital economy growth
Publish Date: 2026-06-30 05:40:00
Source Domain: www.marketscreener.com
Using an unordered list, summarize the following article with between 4 and 8 key points. Mastercard Inc. (NYSE: MA) has launched an Africa Cybersecurity
Centre of Excellence, a pan-African initiative aimed at helping
financial institutions, governments and businesses strengthen cyber
resilience by sharing threat intelligence and improving incident
response.
The programme will be rolled out in phases, beginning this year
in South Africa and Nigeria, as the payments giant expands beyond
its traditional card network into cybersecurity and digital
intelligence services.
The announcement coincided with a visit by Mastercard Chief
Executive Michael Miebach to both countries and received
endorsements from South African President Cyril Ramaphosa and
Nigerian President Bola Tinubu, TechCentral reports.
Mastercard said the initiative builds on commitments made during
the G20 meetings in Johannesburg last year and follows recent
discussions with Nigerian authorities in Abuja.
Rather than establishing a physical facility, the company
described the centre as a virtual hub operating through
interconnected digital platforms. Mastercard did not disclose the
size of its investment, staffing levels or local implementation
partners.
During its first year, the initiative will provide cyber risk
assessments for up to 50 organisations, an Africa-focused threat
intelligence service powered by Recorded Future—the US
cybersecurity company Mastercard acquired for $2.65bn in late
2024—and collaboration platforms for chief information security
officers, cyber exercises and resilience assessments.
The launch forms part of Mastercard’s broader strategy of
expanding into cybersecurity, fraud prevention and digital identity
services, businesses that increasingly complement its global
payments network as digital transactions accelerate.Mastercard said it has invested more than $12.6bn in
cybersecurity since 2018, although it did not provide a regional
breakdown, according to TechCentral.
The company estimates Africa’s digital economy could reach $1.5
trillion by 2030, but says growing cyber threats risk undermining
confidence in digital payments and online commerce.
According to Mastercard, South Africa is Africa’s most-targeted
cyber market, accounting for approximately 29% of ransomware
attacks and 40% of phishing incidents across the continent, while
only an estimated 35% of cyber incidents are reported.
The assessment broadly aligns with Interpol’s 2025 Africa
Cyberthreat Assessment, which recorded 17,849 ransomware detections
in South Africa—more than any other African country—followed by
12,281 in Egypt. The report also found phishing accounted for
roughly one-third of reported cyber incidents across Africa and
estimated cumulative cybercrime losses exceeded $3bn between 2019
and 2025.
As governments and financial institutions accelerate
digitalisation, spending on cybersecurity is expected to rise
sharply across Africa. Industry analysts increasingly view cyber
resilience as a prerequisite for expanding digital payments,
financial inclusion and cross-border e-commerce, making
cybersecurity a fast-growing commercial opportunity for global
technology and payments companies.© 2026 bne IntelliNews, source Magazine
