Mastercard has announced the launch of a cybersecurity centre to improve threat intelligence sharing across Africa.

Designed to connect financial institutions and public sector organisations, this initiative helps them prepare for and respond to a sharp rise in ransomware and phishing attacks targeting the continent’s digital economy.

Scheduled for a phased rollout in 2026, the Africa Cybersecurity Center of Excellence will start operations in South Africa and Nigeria.

Up to 50 organisations will receive cyber risk analyses. They will also gain access to a threat intelligence feed from Recorded Future, a security firm acquired by Mastercard in 2024.

Africa’s digital economy is projected to reach US$1.5 trillion by 2030. However, cybercrime remains significantly underreported due to maturity gaps and reputational concerns.

South Africa is currently the continent’s most targeted market. It accounts for approximately 29% of ransomware attacks and 40% of phishing incidents.

Nigeria also ranks among the most heavily affected markets for dark web threat activity.

“Africa is dynamic, fast-growing, and ready to scale its digital future,”

said Michael Miebach, CEO of Mastercard.

“By doing more to connect public and private sector efforts and share best practices, we can strengthen collective defense and secure a more confident and inclusive digital economy.”

Operating across three core pillars, the centre will prioritise threat intelligence. It will provide participating organisations with regional security assessments and a shared view of emerging risks.

In terms of collaboration, the hub aims to bring together chief information security officers, business leaders, and security teams. This is to advance industry best practices.

Companies will also improve their readiness through ongoing risk monitoring, resilience assessments, and scenario-based exercises.

Featured image credit: Edited by Fintech News UAE, based on image by Mastercard