During the scientific days organized by the National Economic and Financial Committee (CNEF) dedicated to the digital economy, the issue of personal data protection in Cameroon took center stage. Appropriate regulations are essential to foster financial inclusion and ensure data security in a rapidly evolving digital environment.
Debate on Personal Data Regulation in Cameroon
On Thursday, June 7, the scientific days of the National Economic and Financial Committee (CNEF) focused on a major issue: the configuration and protection of personal data in Cameroon. These discussions highlighted the importance of appropriate regulations to foster financial inclusion and ensure data security in a rapidly expanding digital environment.
The Minister of Posts and Telecommunications, Minette Libom Li Likeng, emphasized the need to promote the development of innovative technologies such as artificial intelligence (AI) and Open Banking, while ensuring their seamless integration with existing systems. She also highlighted the importance of establishing strategic partnerships between the government, international institutions, the private sector, financial institutions, and technology stakeholders. To achieve this, solid regulation is indispensable, posing a significant challenge for Cameroon.
Adaptive Regulation to Support Innovation
Minette Libom Li Likeng also asserted that adaptive oversight and regulation are essential to support innovation while protecting users and the stability of the financial system. She urged the government to regularly update regulatory frameworks to reflect technological advancements and new market realities, thereby creating a safe and conducive environment for innovation.
However, the personal data protection law, which has been in development for years, has yet to be passed by the National Assembly or promulgated by the President of the Republic. Despite this, the Minister remains optimistic about resolving this issue through the Cameroon Digital Transformation Acceleration Program (PATNUC), which aims to update and harmonize the country’s legislative and regulatory framework.
Strengthening Intersectoral Regulation
Another crucial aspect discussed is the strengthening of intersectoral regulation to effectively coordinate oversight and regulatory efforts across different sectors such as finance, telecommunications, and technology. This approach aims to ensure consistency in applying security and data protection standards, thereby enhancing confidence in Cameroon’s digital financial ecosystem.
Data: A Goldmine to Protect
The Minister of Finance, Louis-Paul Motaze, reminded the audience of the importance of customer data, describing it as a “goldmine.” However, he also highlighted the risks associated with data sharing, such as malicious attacks and bank account hacking. He also warned against speculative behaviors encouraged by the increasing use of innovative technologies in the financial sector.
Central Bank’s Commitment
The Central Bank of Central African States reassured participants by affirming its particular attention to personal data protection. It ensures that conditions and provisions related to IT infrastructure and regulation are met before granting necessary authorizations to mobile operators for mobile transfers and payments.
Call for Urgent Legislation
Beaugas Orain Djoyum, CEO of the strategic monitoring and e-reputation firm ICT Media STRATEGIES, advocated for speeding up the regulatory process and establishing appropriate institutions. He emphasized that personal data is valuable and that each day of delay represents a potential loss. He also highlighted the risks of cyberattacks and user data exposure.
Cet article met en lumière les défis et les perspectives pour le Cameroun dans la protection des données personnelles à l’ère numérique, soulignant l’importance d’une régulation appropriée pour soutenir l’innovation tout en assurant la sécurité des utilisateurs.