South Africa has advanced infrastructure in information and communications technology (ICT), but it is also home to the third-largest number of cyber-crime victims worldwide. Cases of cyber-crime such as banking fraud have increased throughout the country in recent years, despite significant investment in cybersecurity. As South Africa searched for solutions to mitigate digital threats to its banking sector, it turned to the U.S. Trade and Development Agency (USTDA) and American companies for solutions.
Our Solution & Impact
USTDA advanced Prosper Africa through a reverse trade mission for South African regulators and bank representatives that showcased American innovation in cybersecurity policy and technology. South African participants met with dozens of American firms that specialize in state-of-the-art cybersecurity solutions and products.
Within a few months of the visit, South Africa collaborated with American cybersecurity companies to create solutions that are now shoring up its resilience to digital threats, protecting millions of South African consumers from cyber-crime, and supporting a positive business environment and economic growth.
“The quick results of this visit demonstrate South Africa’s commitment to protecting its financial infrastructure with the best available cybersecurity solutions. USTDA is committed to helping build long-term partnerships between American companies and their South African partners.”
Todd Abrajano USTDA Chief Operating Officer and Head of Agency