Africa Needs Broder Action to Address Cybersecurity Threats
In a globally-integrated financial market, robust and resilient cybersecurity is a non-negotiable prerequisite for investment worldwide. But effective cybersecurity remains a challenge across Africa, with many organizations unprepared for cyber attacks.
FREMONT, CA: One of the pillars supporting every business decision is the capacity to safeguard the data of partners and clients. Today's dynamic financial markets offer a wide range of entry points for bad actors to compromise systems and obtain data. These need to be safeguarded. A system's strength is determined by its weakest link. Therefore, unbreakable cybersecurity is becoming a requirement for investment in any country as communication and financial networks grow more global.
The African continent still faces difficulties with cybersecurity, and many businesses are unprepared for cyberattacks.
Only a few nations have legislation in place to safeguard enterprises and consumers. Only 29 of the 54 African nations evaluated in the Global Cybersecurity Index (2021) have passed cybersecurity legislation. In 2022, 52 percent of African businesses said they were unprepared to face a significant cyberattack. More firms in the region are operating without the essential cybersecurity protocols, making the situation even direr. African organizations do not prioritize cybersecurity, and this lack of protection directly impacts commerce for both enterprises and nations.
Africa loses USD four billion every year to cybercrime. This causes damage to brands and reputations in addition to financial losses, data loss, and theft of intellectual property and/or financial and/or personal information. Due to its subpar cybersecurity, fraudsters now target Africa as the soft underbelly of international commercial networks. There has been an increase in hostile cyber activity and digital dangers in several African nations. The continent's increasing technical advancement makes it a desirable target for cybercriminals. But as new cybersecurity regulations are adopted in nations like Kenya and Zambia, this is gradually changing.
An increase in corporate confidence in Africa is being facilitated by new anti-piracy laws that have the potential to curtail and, ideally, eventually end copyright theft. Following Kenya's Copyright Act changes that allow ISP networks to block infringing domains, US corporations are making significant investments there. Additionally, genuine steps are being taken to combat piracy. Internet service providers (ISPs) in Kenya were recently ordered to permanently prohibit sports websites that violate copyrighted content by the country's High Court.
The area is still a key battleground in global cybersecurity conflicts. Cybersecurity solutions for global digital platforms emphasize African efforts to combat piracy and defend content, networks, and intellectual property.