Source: African Development Bank Group
The Board of Directors of the African Development Bank has awarded a $2 million grant to establish the African Cybersecurity Resource Center (ACRC) for Financial Inclusion to tackle cybercrime across Africa and to strengthen the resilience of digital financial ecosystems.
The grant will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle, which the institution supports.
The project will take a three-pronged approach: creation of an affordable shared platform to monitor cyber-attacks against financial service providers and individual customers; rollout of individualized advisory services to enable organisations to bolster their cybersecurity; and enhancement of cybersecurity talent development to ensure that African demand for expertise can be met.