Egypt is strengthening cybersecurity cooperation with African nations, as the Central Bank of Egypt (CBE) recently hosted a specialised technical team from the Bank of Tanzania (BoT).

According to an official statement published by the CBE on Sunday, the visit took place over three days and focused on Egypt’s pioneering role in financial cybersecurity. 

The Tanzanian delegation sought insights from Egypt’s Financial Computing Incident Response Team (EG-FinCIRT), a model recognised across Africa and the Middle East.

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Enhancing cybersecurity in Africa’s financial sector

The Tanzanian team responsible for operating the Financial Sector Computer Emergency Response Center (TZ-FinCERT), explored EG-FinCIRT’s advanced mechanisms for identifying and mitigating cyber threats in banking and finance. The visit aimed to leverage Egypt’s expertise in strengthening cybersecurity frameworks and enhancing Tanzania’s digital financial security.

Sherif Hazem, CBE’s Sub-Governor for the Cybersecurity Sector, emphasised the significance of these exchanges. “Welcoming cybersecurity teams from African central banks underscores CBE’s leadership in securing financial systems. Our region’s first sector-specific CERT aligns with global cybersecurity advancements,” he stated.

Strategic knowledge sharing for digital security

Assistant Sub-Governor of CBE, Ibrahim Mostafa, highlighted the growing need for collaboration amid rising cyber threats. “Sharing knowledge and strengthening cooperation among cybersecurity response teams is essential as financial institutions increasingly rely on digital technologies,” he noted. 

Egypt has been actively working on enhancing cybersecurity across its banking sector, introducing structured frameworks to secure financial institutions and fintech applications.

During their visit, the BoT team gained insights into Egypt’s Financial Cybersecurity Framework, which outlines best practices for protecting digital banking operations. They also reviewed Egypt’s processes for evaluating financial institutions’ cybersecurity readiness and the approval protocols for digital banking solutions before they are launched in the market.

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Egypt and Tanzania strengthen cybersecurity ties

The visit was part of a broader initiative to foster cybersecurity collaboration among African nations. By sharing best practices and cybersecurity strategies, Egypt and Tanzania are working towards a more secure digital financial environment across the continent.

Egypt’s commitment to regional cybersecurity leadership continues to grow, reinforcing its role as a hub for financial security expertise. As digital banking expands, partnerships like this will be crucial in safeguarding financial institutions from emerging cyber threats.