talent hunting

Kenya’s banks incur hefty tech costs over digitisation, cyberattacks

By Herald Aloo

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Posted on September 13, 2023 08:47

Kenyan digital loan platforms, such as the Tala app, will be regulated by the central bank if proposals before parliament become law. REUTERS/Thomas Mukoya

Lenders are keen to tighten cyberattack vulnerabilities that come with digitisation after Kenya suffered a major cyber-attack last month.

A stiff competition to snap up tech talents as well as IT infrastructure development costs have left Kenyan banks languishing with extra sizable expenditure increases amid a digitisation drive and a wave of cyberattacks.

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