Africa’s Progress in Data Protection: Key to Secure Digital Finance Growth
A new report by Yellow Card highlights Africa’s significant strides in data protection, underscoring the critical role of strong data security frameworks in safeguarding personal and financial information. As the continent accelerates its digital transformation, ensuring robust data protection has become central to shaping Africa’s digital future, particularly in the growing digital finance sector. The 2025 Report on Data Protection in Africa reveals that 39 out of 55 African nations have enacted data protection laws, with 34 establishing regulatory authorities to ensure compliance.
The report emphasizes that as digital financial services gain momentum, stronger legal frameworks have been implemented to address privacy concerns. Countries such as Nigeria, Kenya, and South Africa are leading the way, aligning their data protection laws with global standards. This progress is fostering trust in digital finance by ensuring that financial service providers handle sensitive customer data responsibly, which in turn mitigates risks like identity theft, fraud, and cyberattacks.
Despite the advancements, challenges remain in regions where enforcement mechanisms are still developing. This leaves gaps in consumer protection, as noted in the report. However, as more transactions move online, African governments are recognizing the need to prioritize user data protection to strengthen the digital ecosystem and ensure consumer trust in financial services.
Yellow Card’s Group Data Protection and Privacy Counsel, Thelma Okorie, emphasized the growing importance of data protection, calling it the backbone of trust in the digital space. With increased alignment between data protection policies and emerging regulations in fintech and cryptocurrencies, Okorie believes Africa is positioning itself for a more secure and innovative digital financial future.
SOURCE: THISDAY