Africa must act now to address cybersecurity threats
August 25, 2022
In a globally-integrated financial market, robust and resilient cybersecurity is a non-negotiable prerequisite for investment across the world. But effective cybersecurity remains a challenge across Africa, with many organizations unprepared for cyber attacks.
Efforts should be made to improve cybersecurity and employee awareness to build resilient organizations people want to invest in.
The ability to protect the data of partners and clients is today one of the fundamentals behind every business decision. Today’s fluid financial markets provide a plethora of access points for malicious actors to penetrate systems and acquire data. These have to be protected.
A system is only as strong as its weakest point. Therefore, African organizations are not giving cybersecurity the priority it deserves and this inadequate security is directly affecting business for enterprises, as well as countries.
Cybercrime hurts companies beyond their financials, leading to data loss, theft of intellectual property and financial and/or personal information, and damage to brand and reputation.
Africa’s poor cybersecurity also means the region is now targeted by cybercriminals as the “soft underbelly” of global business networks. In Africa, many countries have seen a rise in digital threats and malicious cyber activities.
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