Mastercard Report Warns of Rising Cyber Threats as Africa’s Digital Economy Expands
The report found that between 2016 and 2025, mobile money users grew 5.9 times, digital banking users increased 4.7 times, and the e-commerce market expanded 5.3 times. These developments coincide with projections that Africa’s digital payments economy could reach USD 1.5 trillion by 2030.
Africa’s expanding digital economy is creating new opportunities for individuals, businesses and governments, but rising cyber threats are increasing the need for stronger security measures, according to a new Mastercard-commissioned whitepaper, Africa’s Digital Defense Race.
The report found that between 2016 and 2025, mobile money users grew 5.9 times, digital banking users increased 4.7 times, and the e-commerce market expanded 5.3 times. These developments coincide with projections that Africa’s digital payments economy could reach USD 1.5 trillion by 2030.
However, cyber threats have also increased alongside digital adoption. Mastercard Cyber Insights recorded 69,236 observed cyber events targeting African organisations in 2025, equivalent to approximately one event every eight minutes. The whitepaper also found that cyberattacks across the continent increased by more than 421% between 2016 and 2025, compared with 307% globally.
“Africa’s digital growth is creating real opportunity for people and businesses across the continent, and protecting it has become a leadership priority. As threats become more sophisticated and coordinated, our response has to be just as coordinated. That is why we launched the Africa Cybersecurity Center of Excellence, bringing the public and private sectors together to share intelligence, knowledge and best practices. Building that resilience together is how Africa continues to grow with confidence.”
– Shabir Ahmed, Senior Vice President and Customer Solutions Center Lead for Africa, Mastercard
The report highlights different cybersecurity challenges across African markets. Nigeria, which has one of the continent’s largest fintech ecosystems, accounted for a significant share of observed cyberattacks in Africa in 2025. South Africa’s concentrated financial sector was the target of 12.6% of the continent’s observed attacks, while Morocco’s technology sector and institutionalised cyber governance structures position it as an important regional hub. In Kenya, the report emphasises the need to protect systems underpinning financial inclusion and digital growth.
Technology, public sector and financial services organisations collectively accounted for 44% of observed cyber activity. Personal information, financial information and customer-facing services represented 27% of targeted assets, underscoring the importance of protecting sensitive data and the services used by individuals and businesses.
Cybersecurity talent is another major concern. According to the whitepaper, Africa has approximately 200,000 cybersecurity positions waiting to be filled, representing a shortage equivalent to 23% of the continent’s current cybersecurity workforce. Mastercard’s Africa Cybersecurity Center of Excellence seeks to help address these challenges by facilitating knowledge-sharing and best practices among security professionals and supporting organisational preparedness through scenario-based exercises.
The report also points to cross-border cooperation as an important part of strengthening cyber resilience. Between June and August 2025, INTERPOL’s Operation Serengeti 2.0 resulted in 1,209 arrests across 18 African countries and the recovery of USD 97.4 million.
Mastercard said it works with governments, financial institutions and businesses to strengthen cybersecurity through collaboration. Its Africa Cybersecurity Center of Excellence brings public- and private-sector stakeholders together to share threat intelligence, monitor risks and improve collective defence as digital services expand across the continent.
