By Edson Baraukwa | Africa Guardian
Africa has increasingly become a prime target for cybercriminals. Recent data from Check Point revealed that in the second quarter of 2024, Africa experienced the highest average number of cyberattacks per organization globally, with an alarming average of 2,960 attacks per week. This marks a 37% increase compared to the same period in 2023. In contrast, the global average stood at 1,636 attacks per organization per week, reflecting a 30% year-over-year increase.
The research highlighted that Kenya, Nigeria, and South Africa are among the top African nations facing significant cyberthreats. South Africa alone recorded an average of 1,450 weekly attacks per organization, marking a 4% increase from the previous year.
One of the critical challenges on the continent is the lack of visibility in cybersecurity. Many organizations struggle with asset management, access control, and securing their IT infrastructure. This issue is particularly acute in government and healthcare sectors, where fragmented IT systems and the adoption of multiple cloud services without adequate security measures make them especially vulnerable.
To safeguard valuable assets and maintain economic stability, adopting a proactive approach to cybersecurity is crucial. Cybercriminals are exploiting these vulnerabilities, targeting valuable data such as personally identifiable information (PII) and launching ransomware attacks. The consequences of these attacks are far-reaching, impacting both GDP and economic stability. In South Africa, cybercrime is estimated to cost the economy R2.2 billion annually, according to the CSIR. This financial burden represents a significant portion of the country’s GDP, underscoring the severe economic impact. Despite this, only 0.1% of the national budget is allocated to cybersecurity prevention efforts.
The global loss to cybercrime, estimated at $9.8 trillion, underscores the urgent need for robust cybersecurity measures. It’s imperative that cybersecurity is integrated into every business process, particularly when handling customer data.
Rising Cyberattacks
Check Point’s recent research shows a worrying rise in cyberattacks on the African market, with increasingly sophisticated threat actors bypassing modern security controls. A concerning example is the resurgence of Internet Explorer exploits, emphasizing the need for constant vigilance in identifying and addressing overlooked software vulnerabilities.
To counter these threats, organizations must prioritize cybersecurity in their budgets and ensure compliance with regulations such as the Protection of Personal Information Act (POPIA) and the General Data Protection Regulation (GDPR). Regular cybersecurity assessments, including posture checkups offered by cybersecurity firms, can help identify vulnerabilities and strengthen security defenses.
Key Cybersecurity Focus Areas for African Businesses
- Visibility: Enhance asset tracking and control, particularly in cloud environments.
- Preparedness: Implement comprehensive cybersecurity frameworks and conduct regular assessments.
- Regulations: Ensure compliance with local and international data protection laws to mitigate risks.
Africa’s cybersecurity challenges are significant but not insurmountable. By prioritizing visibility, preparedness, and compliance, organizations can bolster their defenses against relentless cyberthreats. A proactive approach to cybersecurity is essential to safeguard valuable assets and maintain economic stability.
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