…Africa’s Digital Economy to Reach $1.5trn by 2030—MasterCard
Nigeria’s President, Bola Ahmed Tinubu, also welcomed the initiative, noting that cybersecurity would play a critical role in the country’s digital transformation agenda.
“As Nigeria deepens its digital transformation, secure and trusted systems will be critical to inclusion and growth. We welcome collaborations that strengthen our digital economy and build resilience for the future,” Tinubu said.
Mastercard said the Centre of Excellence would leverage its global cybersecurity expertise and intelligence capabilities to support one of the world’s fastest-growing digital economies.
Speaking on the sideline, Mastercard chief executive officer, Michael Miebach said trust remains the foundation of Africa’s digital future. “Africa is dynamic, fast-growing and ready to scale its digital future. That won’t happen without trust. People don’t use what they don’t trust. That makes cybersecurity foundational to driving economic resilience and growth across the continent. By doing more to connect public and private sector efforts and share best practices, we can strengthen collective defence and secure a more confident and inclusive digital economy,” he said.
According to Mastercard, South Africa remains the continent’s most targeted market, accounting for about “29 per cent” of ransomware attacks and “40 per cent” of phishing incidents recorded in Africa. Nigeria, meanwhile, ranks among the countries most affected by ransomware attacks and dark web-related cyber threats.
The multi-year initiative will commence with a phased rollout in 2026, beginning in South Africa and Nigeria before expanding across the continent.
Operating as a pan-African hub supported by connected digital platforms, the Centre will provide participating organisations with improved visibility into emerging cyber threats.
During its first year, Mastercard plans to conduct ecosystem-wide cyber risk analyses involving up to 50 organisations while providing access to an Africa-focused threat intelligence feed developed by Recorded Future, a Mastercard company.
The initiative will also encourage collaboration among Chief Information Security Officers (CISOs), business executives and cybersecurity professionals through secure information sharing, joint exercises and coordinated incident response.
Mastercard said the Centre has been designed to evolve in line with the continent’s cybersecurity needs and will focus on three strategic pillars.
The first pillar, “Threat Intelligence and Strategic Insights”, will provide participating organisations with Africa-focused threat intelligence, cybersecurity assessments and a shared understanding of emerging risks.
The second pillar, “Collaboration and Knowledge Sharing”, will facilitate closer cooperation among CISOs, senior business leaders and security teams to strengthen collective response capabilities and promote cybersecurity best practices across industries.
The third pillar, “Readiness and Resilience”, will support organisations through continuous risk monitoring, resilience assessments and scenario-based exercises aimed at improving response and recovery capabilities.
Mastercard described the launch as another milestone in its broader mission to strengthen trust in the digital economy.
Since 2018, the company said it has invested more than $12.6 billion in cybersecurity innovation and supported the launch of over “20 cybersecurity-focused startups” worldwide.
The company added that the initiative reflects its evolution from a payments network into a trusted technology and cyber intelligence partner committed to supporting secure, inclusive and sustainable digital growth across Africa.
By working closely with governments, financial institutions, businesses and small and medium-sized enterprises (SMEs), Mastercard said it aims to strengthen the digital foundations necessary for inclusive economic growth while helping build a safer and more resilient digital future for the continent.
