The cybersecurity threat in Africa

by MMC
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The continent’s booming digital economy is rife with growth opportunities, but also presents challenges that must be addressed to ensure the benefits of technology are fully realized.

One of the most significant challenges facing Africa is the lack of digital security infrastructure.

While many African countries focus on building reliable power and internet grids to grow their startup ecosystems, cybersecurity often does not receive the priority it deserves.

Around 90% of African businesses operate without cybersecurity protocols, leaving them vulnerable to cyber threats, such as hacking, phishing and malware attacks.

The economic consequences of digital insecurity are already considerable. It is estimated to cost South Africa $570 million per year, Nigeria $500 million and Kenya $36 million.

Additionally, surveys of CEOs in Africa have found that businesses are more reluctant than individuals to adopt and use the Internet for e-commerce, due to fears of insufficient data security – an industry expected to grow to $180 billion. dollars per year by 2025.

The lack of digital security in Africa is not only a problem for existing businesses, but also for startups. With the increasing use of digital technologies in areas such as healthcare and education, the security of personal data has become paramount.

If, for example, a startup facilitating communication between pharmacies and insurance companies were to suffer a data breach, its customers’ personal information would be at high risk, potentially leading to identity theft and other forms of cybercrime.

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