Ramping up cybersecurity at Africa’s banks and insurers as threat levels rise
Africa’s rapid digital transformation since COVID-19 leaves critical infrastructure vulnerable to cybercrime, which cost the continent an estimated $4.12 billion last year. Banks and insurance companies are increasingly becoming prime targets. What are the emerging threats? And how should institutions balance reinforcing internal capabilities versus outsourcing expertise? By Kingsley Kobo High demand for new financial […]
Should CEO tenure limits be imposed in Africa’s banking sector?
Age and term-restricted tenures for CEO and Board positions in banking are not widespread in Africa despite actions taken by governments like those of Tanzania and Kenya to impose them upon the finance sector. By Shane Starling As for any position of power from CEOs to presidents, tenure restrictions such as term limits aim to […]
Climate finance: How to end energy poverty in Africa?
Africa is home to 75% of the world’s population without access to electricity, and the trend could worsen with population growth and local electricity infrastructure investment declining in recent years. Yet, with the cost of renewable energy falling dramatically, the financing needs to provide universal access to affordable and reliable green electricity are estimated at […]
African pension funds: The new driving force to finance infrastructure?
Speakers at the Africa Financial Industry Summit’s fourth webinar identify the missing pieces for pension funds to bankroll more of the continent’s infrastructure needs and plug gaps left by the withdrawal of foreign capital. By Kingsley Kobo Africa’s pension fund sector has grown significantly over the past decade and a half, driven by an increasing […]
Opinion: Pan-Africa regulatory platform needed to boost financial inclusion
An Africa-wide regulatory platform is needed to harness the continent’s potential for innovation in financial technology, according to members of the AFIS Advisory Board, a network of leading financial industry decision-makers in Africa. Financial innovation is an extraordinary growth engine for Africa. The continent’s fintechs raised approximately $1.3 billion in investment in 2021 alone with […]
Diaspora banking: A niche category blossoming in the digital era
Remittances from sub-Saharan African migrants to their origin countries accelerated 7% in 2021. As more expatriates send money or seek to invest back home, African banks, such as UBA and NCBA Group, have been overhauling their diaspora account offerings, betting the small segment will become a key category. By Kingsley Kobo and Oliver Nieburg Africa […]