The Ethiopian Capital Market Authority (ECMA) has partnered with the Information Network Security Administration (INSA), the Ethiopian Artificial Intelligence Institute, and the National ID Project Office to strengthen its technological infrastructure and safeguard investors’ interests.
This collaboration, signed today, February 29, 2024, encompasses support related to cybersecurity, transaction protocols, infrastructure, data protection, and personal data theft and aims to enhance the Authority’s ability to monitor the market and foster confidence.
“The foundation of capital market operations rests on technology. The system must be safeguarded against crimes and frauds, and there is a need to commence preparations ahead of the launch of the capital market,” stated Dr. Brook Taye, the Director General of the Ethiopian Capital Market Authority.
“Information sovereignty is primary and INSA will be supporting us in this road,” he added.
According to Tigist Hamid, Director General of INSA, the agency’s digital forensic department has been collaborating with security forces in investigating cybercrimes thus far. “Security audits and clearances on devices and software used by ECMA, as well as cyber protection, will be some of our work,” said Tigist.
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