Last year, it was revealed that South African companies face average losses of R49.45 million due to data breaches. Recently, Cisco, in collaboration with Access Partnership and the Centre for Human Rights at the University of Pretoria, released a comprehensive whitepaper titled "Elevating Africa’s Cyber Resilience." This report underscores the urgent need to enhance cybersecurity infrastructure, upskill the workforce, and strengthen related policies across the continent.
The whitepaper exposes a startling vulnerability: 75% of African countries are highly susceptible to cyberattacks. Charmaine Houvet, Senior Director of Government Strategy and Policy at Cisco Africa, highlighted the critical need for increased cyber resilience to support Africa’s rapid internet and mobile financial services growth. Cyberattacks cost Africa over 10% of its GDP in 2021, translating to approximately $4.12 billion in losses.
In South Africa, cyberattacks, often exacerbated by corruption, have significantly impacted national finances, with R300 million embezzled from the Department of Public Works over the past decade. Cisco's findings indicate that the frequency and complexity of cyberattacks are escalating, posing a substantial threat to socio-economic development.
To combat this growing issue, Cisco advocates a tripartite approach focusing on people, technology, and processes. Addressing the skills and gender gaps in the cybersecurity sector is paramount, necessitating robust collaboration between the public and private sectors. Houvet emphasized the role of private sector entities in scaling learning initiatives to enhance career opportunities, boost employability, and develop essential future job skills.
On the technology front, advancements like 5G, robotic process automation, and generative AI (genAI) present significant opportunities to bolster cybersecurity defenses. Cisco highlighted that 94% of South African organizations reported phishing attacks in 2023, underscoring the need for advanced cybersecurity technologies such as encryption, cryptography, security information and event management (SIEM) systems, and cloud computing. AI and machine learning are becoming increasingly sophisticated, and blockchain technology is also being employed to enhance security measures.
Finally, Cisco calls for a unified regulatory framework across the continent. Currently, 39 out of 54 African nations have implemented cybersecurity legislation. However, the rise in inter-African trade and travel necessitates a more harmonized approach. Governments must collaborate to develop, review, and update comprehensive legislation to address new and emerging cybersecurity issues, including the protection of vulnerable and marginalized groups.
As cyber threats continue to challenge the African continent, it is evident that concerted efforts from all sectors and stakeholders are essential to safeguard future GDP and ensure socio-economic stability.
