Cybersecurity Gaps Could Cripple Economic Progress, President Mahama Cautions
President John Dramani Mahama has warned that the rapid push towards digitalisation will expose economies to severe risks if not matched with robust cybersecurity systems.
Speaking at the launch of the 2025 National Cyber Security Awareness Month and the inauguration of Ghana’s Joint Cybersecurity Committee (JCC) in Accra, the President said governments and institutions must take cyber threats seriously to avoid costly disruptions.
He cited an International Monetary Fund (IMF) report from April 2024, which revealed that about 20 percent of global cyberattacks target the financial sector, with losses estimated at US$12 billion. He cautioned that without safeguards, attacks on critical infrastructure such as banking, healthcare, defence, and energy could paralyse national economies.
“Digitalisation cannot thrive in the absence of strong cybersecurity,” Mr Mahama said, stressing that a single vulnerability could undo years of economic progress.
The President outlined several initiatives designed to boost Ghana’s digital and security ecosystem, including the One Million Coders Programme, the Digital Jobs Initiative, the Dawa ICT Park, and a US$50 million Fintech Growth Fund. These, he said, form part of his government’s broader 24-hour economy vision aimed at creating jobs and fostering innovation.
Minister of Communication, Digital Technology and Innovations, Samuel Nartey George, noted that Ghana has more than 24 million internet users, placing the country among the top 20 globally for digital reach. He announced plans to establish sector-specific cybersecurity frameworks, a Cybercrime Court, and a Cybersecurity Fund to support long-term resilience.
The Director-General of the Cyber Security Authority (CSA), Divine Selase Agbeti, said October’s awareness campaign would extend nationwide through schools, communities, and public campaigns. However, she admitted challenges remain, including limited funding, a shortage of cybersecurity experts, and persistent brain drain.
Interior Minister Muntaka Mohammed-Mubarak added that the Ghana Police Service’s Cybercrime and Digital Forensic Unit had made progress in intelligence gathering and investigations but required more resources to stay ahead of increasingly sophisticated threats.
The newly inaugurated Joint Cybersecurity Committee, made up of 18 senior officials from state institutions, will coordinate national responses to cyber threats and oversee the implementation of policies to safeguard the country’s digital economy.
Source: B&FT
