Less than 10% of African businesses say they are “very confident” in state cybersecurity protections

A greater percentage than other countries worldwide—at least four out of ten African businesses—do not trust their governments’ ability to handle a significant cyber security issue.

According to The EastAfrican, the World Economic Forum’s most recent Global Cybersecurity Outlook revealed that national investments in cybersecurity are lacking throughout the continent, with only 9% of businesses expressing “very confidence” in state cybersecurity measures.

This implies that many organizations on the continent are concerned that if a significant cyberattack occurs, they would sustain significant financial losses and harm since their governments lack adequate protections to lessen the effects.

The study finds that while some businesses are not confident in their countries’ cybersecurity readiness, organizations in Africa are usually more concerned.

A worldwide think-tank poll found that 35% of African businesses feel unconfident in their nations’ ability to manage cyberattacks, compared to 15% in North America and Europe and 0% in Oceania.

In Europe, the percentage increases to 15%, 17%, and 25%, whilst just 9% of African businesses are “very confident” in their governments’ cybersecurity readiness. respectively, Oceania and North America.

Since many African nations have failed to prioritize cybersecurity despite mounting evidence that cyberattacks are becoming more frequent and sophisticated, industry experts say they are “not surprised” by these results.

Co-CEO of Zendata Cybersecurity Isabelle Meyer stated, “There are clear differences in terms of cybersecurity investments and human resources, so I am not so surprised by the difference in the lack of confidence in Africa versus Europe and North America.”

More than two decades ago, PPPs (Public-Private Partnerships) began to be used in North America and Europe to invest in various policies related to cybersecurity. Since there is hardly any comprehensive cybersecurity regulation in Africa, she added, “Africa has fewer cybersecurity professionals, less infrastructure, and fewer cybersecurity operations centers, so it only makes sense that organizations there would be worried about cybersecurity readiness.”

Notably, smaller businesses have admitted to having greater cyber resilience issues than bigger ones, and the majority of businesses in Africa are tiny in terms of staff turnover and profitability.

According to the WEF poll, the percentage of small organizations worldwide that report having inadequate cyber resilience has increased from 5% in 2022 to 35% this year, while large enterprises have improved, with those who are still having difficulties falling from 13% to 7% overall.

Rapid technological adoption, rising geopolitical tensions, and increasingly sophisticated attackers are some of the elements that have made it more difficult to establish cyber resilience.

A major problem for businesses worldwide, geopolitical tensions are connected to the growth of cyber espionage, which is the unlawful acquisition of private information from a government, business, or individual for use to an adversary’s political or economic benefit.

Geopolitical tensions have impacted cybersecurity tactics, according to almost 60% of businesses worldwide, and more than one-third of CEOs feel they have increased the danger of cyber espionage.