Senior executives from Africa's financial services industry, insurers and regulators gathered on November 4 for a TED Talk-style masterclass on cyber insurance and digital security led by Cybastion at the Africa Financial Summit (AFIS) in Casablanca, Morocco.

Africa has the fastest growing digital market in the world, but the continent has seen a more than 20% increase in cyberattacks in 2024, cites INTERPOL.

Given the rapidly evolving digital threat landscape,Armand Tchokokam, Executive Vice President and Global CFO, highlighted that the Masterclass aimed to provide a comprehensive framework for understanding and managing cyber risks in Africa and to give leaders the opportunity to help shape Cybastion's new cybersecurity product under development.

In a TED Talk style presentation,André Biyong, Cybastion's Chief Operating Officer, presented the company's new cyber insurance solution, which helps organizations convert uncertain potential losses into measurable and controllable costs.

Biyong guided the participants through each step of how cyber insurance works. Cybastion's cyber insurance solution, scheduled to launch in 2026, will be specifically tailored to the African market.

Despite increased efforts by African governments and businesses to strengthen cybersecurity, the continent remains highly vulnerable.  Cyber ​​insurance does not replace cybersecurity measures and best practices, but complements them, Biyong stressed.

The presentation concluded with a call to action to make cyber insurance mandatory in critical sectors and build a strong insurance ecosystem with key stakeholders including insurers, reinsurers, insurtechs and
regulators.

Christian-Cédric Fotso, distribution director of Cybastion andEric-Franklin Tavares, Senior Advisor, provided his expertise on the cyber insurance solution and commented on its technical aspects.

🌐 Stay tuned for updates on Cybastion’s cyber insurance solution.