Cyber security huge economic hinderance to Africa

In a world that is increasingly interconnected, cybersecurity has become a critical factor for economic development and investment across the globe. However, Africa continues to face significant challenges in effectively combating cyber threats, leading many organizations vulnerable to attacks. CNBC Africa recently had a conversation with Emmanuel Chagara, the CEO of Milima Security, to discuss the current state of cybersecurity in Africa and the steps needed to address the growing challenges. Chagara highlighted the significant evolution in the threat landscape over the past two to three decades, attributing it to the massive digitization phase that Africa and the world have undergone. Countries in East Africa such as Rwanda, Uganda, and Kenya have actively embraced technology across various sectors, leading to extensive integration of technology. However, along with this technological advancement, there has been a notable increase in cyber threats. Chagara pointed out that Africa loses an estimated $4 billion annually to cyber crime as of 2022, underscoring the urgency of addressing cybersecurity issues. Despite the rise in cyber threats, there have been efforts at both the government and private sector levels to enhance cybersecurity capabilities within African countries. Chagara mentioned the establishment of data privacy laws, such as the Malabo Treaty in 2014, requiring member states to implement data protection regulations. Currently, 39 out of 54 African countries have passed these laws, with 23 of them having functional data protection offices. These developments demonstrate progress in cybersecurity capabilities and governance, albeit in response to the escalating cyber threats. Chagara emphasized that one of the primary challenges in cybersecurity is the gap in compliance between hackers and organizations. While there are guidelines and regulations in place to enhance cyber hygiene, organizations often lag in implementing necessary measures, leaving them vulnerable to attacks. He highlighted that around 85% of security threats faced by institutions stem from basic human errors that are avoidable through improved cyber hygiene practices. The interview also delved into the importance of educating the public and private sectors on cybersecurity best practices. Chagara stressed the need for continuous awareness campaigns to enhance user knowledge and reduce cybersecurity risks. He commended the National Cyber Security Agency for their efforts in raising awareness and emphasized the ongoing need for educating the masses on cybersecurity risks. Regarding collaboration in cybersecurity efforts, Chagara emphasized that cybersecurity is a collective responsibility that requires partnership between the public and private sectors. He underscored the role of leadership in setting the tone for cybersecurity practices, stating that government agencies and organizations should lead by example to inspire others to prioritize cybersecurity. By fostering partnerships and dialogue between different stakeholders, including private sector players offering cybersecurity services, a collaborative approach can be adopted to enhance cyber resilience across Africa. In conclusion, addressing cybersecurity challenges in Africa requires a multifaceted approach that combines regulatory compliance, user education, and strategic partnerships between the public and private sectors. With the growing economic impact of cyber crime in the region, it is imperative for African countries to prioritize cybersecurity measures to safeguard their digital infrastructure and promote sustainable economic growth.