Kenyan Delegation Visits CBE to Learn about Leading Cybersecurity Practices

The Central Bank of Egypt (CBE) hosted a high-level delegation from the Central Bank of Kenya for an official three-day visit to explore Egypt’s cybersecurity practices. 

The delegation focused on learning from Egypt’s Cybersecurity Operations Center (EG-FinCIRT), a regional leader in cybersecurity within the financial sector, serving as a model for both Africa and the Middle East.

The Kenyan delegation, composed of five specialists from the Banking Sector Cybersecurity Operations Center (BS-SOC), aimed to exchange knowledge and experiences regarding cybersecurity, with a particular focus on EG-FinCIRT, which has been at the forefront of safeguarding the financial sector against cyber threats.

Sherif Hazem, Deputy Governor for Cybersecurity commented that the continued interest from African central banks in Egypt’s cybersecurity capabilities reflects the leading role Egypt has come to occupy in addressing the growing global cybersecurity threats. "This ongoing exchange supports Egypt’s commitment to leveraging the latest technologies and expanding their application to protect national and regional financial systems," Dr. Hazem added.

Similarly,  Ibrahim Mustafa, Assistant Deputy Governor and Head of EG-FinCIRT, emphasized the pivotal role of the Center in enhancing regional cybersecurity strategies. "EG-FinCIRT not only protects the financial sector, but it also plays a crucial role in coordinating with regional and international response teams to tackle the rising incidence of cyber-attacks threatening economies around the world."

During their visit, the Kenyan delegation was briefed on cyber threat detection strategies, security breach mechanisms, and compliance frameworks for financial institutions, especially within fintech. They also discussed the best global cybersecurity standards for financial institutions and the approval mechanisms for fintech applications.

The Kenyan delegation expressed a keen interest in learning from Egypt’s experience in developing and implementing a national cybersecurity strategy. 

The visit comes at a time when Kenya is in the process of establishing an integrated cybersecurity system, inspired by Egypt’s own model. The Central Bank of Kenya is working to create a specialized cybersecurity incident response center and regularly update its regulatory framework to enhance cyber resilience in the financial sector.