Mastercard Reports Africa’s Digital Economy Growth and Cybersecurity Risks

Mastercard emphasized the necessity for enhanced cybersecurity governance, infrastructure, and collaboration in its statement released Monday. The company's white paper, 'Africa’s Digital Defense Race,' noted mobile money users grew 5.9 times between 2016 and 2025. Digital banking users increased 4.7 times, while e-commerce expanded 5.3 times during the same period.

Africa’s digital payments economy is projected to reach $1.5 trillion by 2030, according to Mastercard. The report also recorded 69,236 cyber events targeting African organizations in 2025, equivalent to one incident every eight minutes. Nigeria, South Africa, Morocco, and Kenya face distinct cybersecurity challenges tied to their digital economies and financial systems.