Stakeholders of Cameroon’s fintech ecosystem have assembled in Douala to strengthen security within Cameroon’s rapidly growing fintech industry with a view to building greater customer trust which is key to the sustainability of the services they offer.
The get-together, 12 – 14 November 2024, is within the ambit of a three-day workshop organised by ANTIC and The Change Engine under the theme: “Security, Regulation and Strategic Partnerships for a Resilient Fintech Ecosystem.”
The workshop comes at the wake of security audits conducted by ANTIC on fintech companies, which revealed significant vulnerabilities that could pose serious threats to this rapidly growing sector, if left unresolved. Digital payments in Cameroon are projected to exceed 2,607 billion FCFA by the end of this year, fueled by mobile money, e-commerce, digital lending, and cross-border remittances all of which contribute to economic growth and job creation.
Building on this potential, ANTIC seeks to address the challenges facing this evolving industry, particularly in the areas of cybersecurity, regulatory compliance, and the long-term sustainability of digital financial infrastructure, as emphasized by ANTIC’s Director General, Professor Ebot Ebot Enaw, during the opening of the workshop.
A resilient Fintech ecosystem requires more than just technology, he said. “Collaboration between government agencies, financial regulators, telecom operators, banks, Fintech startups and academic institutions is essential to create a secure and innovative environment that fosters interoperability and knowledge sharing”, Prof. Ebot noted.
This objective is reflected in the composition of the expert speakers and trainers, who over the next three days will guide participants through key subjects, including:
- the regulatory framework for fintech institutions in Cameroon;
- emerging technologies in fintech;
- practical applications of artificial intelligence for fintech innovation; and
- security mechanisms for Cameroon’s fintech ecosystem.
