Ato Hanibal Lemma, Deputy Director General of the Information Network Security Administration (INSA), stated that to prevent the growing cyber threats within Ethiopia’s finance sector, institutions within the sector must work together.
Ato Hanibal made these remarks during the second Cybersecurity Month organized at the institutional level by the Commercial Bank of Ethiopia (CBE). This year’s Cybersecurity Month, held under the theme “For Trusted Banking Services Through Zero-Trust Security,” is currently being observed.
As part of the program, a panel discussion was held under the title:
“The Evolving Cyber Threat in Ethiopia: What Do Cyber Risks in Ethiopia’s Financial Sector Look Like?”
Participating as a panelist, Ato Hanibal Lemma explained that the types and volume of cyberattacks currently affecting Ethiopia’s financial institutions have significantly increased. He emphasized that for effective mitigation, senior leaders of financial institutions must view cybersecurity as a business risk rather than merely a technical issue.
Ato Hanibal also provided an in-depth explanation of Ethiopia’s current maturity level regarding its ability to prevent, detect, and respond to cyberattacks targeting the country’s critical infrastructures, including the finance sector.
Participants in the panel discussion included experts from INSA, Ethio Telecom, the Ethiopian Federal Police, and the academic community.
The Cybersecurity Month organized by the Commercial Bank of Ethiopia for the second time at the institutional level is being held for two consecutive days, from Hidar 11 to 12/2018 E.C., at the Bank’s headquarters.
