Over the last 10 years, Internet penetration in Africa has increased by 12 times. Furthermore, the dynamics of the progress of digitalization exceeds similar indicators even in Europe.
According to research by the e-Governance Academy, seven African countries are among the top 80 with the highest National Cyber Security Index. Benin and Nigeria are ranked 47th and 48th, which makes them first in Africa and places higher than countries such as Brazil and UAE.
Along with the positive effect of the digital breakthrough, a whole new bunch of dangers are becoming apparent. In 2019 West African financial institutions experienced a wave of attacks, Symantec reported. Some of them lasted for about 2 years, with credentials stolen and computers infected. As cybersecurity experts point out, compared to banks in Western Europe or North America, most financial institutions in West Africa have poorly configured networks. Few organizations invest in cybersecurity and their IT infrastructure, thereby facilitating attacks and allowing network break-ins to be concealed for a long time.
In 2017 cybercrime costed African businesses about $3.5 billion, the Serianu reported. Losses by Nigeria, Kenya, Ghana, Uganda and Tanzania together accounted for about a third of it.
Still, the dangers associated with IT do not always come from outside — most reported incidents result from employees’ activities. According to the Serianu Cyber Security Report, 34% of companies in Africa do not train their stuff on cybersecurity risks.
Our team has prepared this material in cooperation with ICS CUBE company, a Russian expert in providing cybersecurity to business and government. ICS CUBE experts highlight that ensuring a safeguarded cyber environment within the company’s network is a key point for minimizing risks and preventing system weaknesses and attacks.