African countries must establish robust safety barriers: Kganyago
The Reserve Bank says South Africa’s macroeconomic prospects are looking healthier.
Reserve Bank Governor Lesetja Kganyago has warned African nations must urgently establish robust guardrails against a potential global financial crisis sparked by a major cyberattack. Speaking at the 3rd Mapunguwe Institute for Strategic Reflection Forum on Africa and geopolitics, Kganyago emphasized the severity of the risks, stating that the next crisis may well come from a cyberattack.
He highlighted the possibility of a swarm of super-smart and tireless agents infiltrating South Africa's payment system or a major financial firm. Kganyago described the risks in his domain as "undoubtedly severe," ranging from cyber security to asset price bubbles.
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