Africa Investments 

Cybersecurity in the context of expanding digital financial services

What:          Webinar

Who:           The African Development Bank’s Making Finance Work for Africa (MFW4A) Partnership, and the EIB West and Central Africa SME Banking and Microfinance Academy 2021

When:         20 January 2022 at 13:00-16.00 GMT

Where:        Virtual

The webinar, titled Cybersecurity challenges for financial institutions in the context of expanding digital financial services, will bring together experts, financial institutions, regulators and other participants to learn about updates on cybersecurity and possible vulnerabilities that must be solved to reduce the risk of an attack.

With the Covid-19 pandemic, the digitalization of financial services has been a focus for banks and microfinance institutions alike. This has included collaboration with fintech companies and mobile network operators in order to offer a wider range of possibilities for clients to access their accounts. The Covid-19 crisis has abruptly changed the game, forcing financial institutions to swiftly adopt new ways of operating and communicating.

Bank clients in Sub-Saharan Africa are particularly vulnerable to cybercrimes such as credit card fraud. A recent report found that 85% of financial institutions in the West African Economic and Monetary Union, the Economic and Monetary Community of Central Africa, and Democratic Republic of Congo, have been victims of one or more cyberattacks that resulted in damage, sometimes repeatedly.

Panelists will share their perspective on the following issues:

  • Introduction to key cybersecurity risks
  • Increased risks due to digital financial services
  • Key steps to protect financial institutions and their clients
  • Key steps to complete before and during a digitization process

Panelists will include:

  • Eric Malm, IT director, ABL 
  • Ghislain Nkoudjou, director of cybersecurity, CCA Bank
  • Jean-Louis Perrier, program director, Africa Cybersecurity Resource Center
  • Stéphane Konan, senior adviser, Ministry of Defense of Côte d’Ivoire

Edwige Takassi (IPC GmbH)

Note: This webinar will be conducted in French with simultaneous English translation.

African Development Bank Group

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