The number of cyberattacks on businesses in Kenya, South Africa, and Zambia increased by 76%.
This is according to the latest cyber security report – ‘The Evolving Cyber Security Landscape in Africa 2022′, by Liquid C2, a business of Liquid Intelligent Technologies.
Further, the report showed that cyber-attacks against all large enterprises increased significantly during the period under review.
For example, Kenyan businesses reported an 82% jump in cyberattacks, with South African and Zambian ventures reporting 63% and 62% increase respectively.
“The biggest concern emerging from this report is that companies are saying that they’ve put a lot more cyber security controls in place. With threats evolving faster than security systems, companies cannot afford to get complacent,” said David Behr, CEO of Liquid C2.
Accordingly, “the report highlights that businesses must be consistently vigilant about the ever-evolving cybercrime landscape and the methods malicious actors use to breach cyber security measures. As the report shows, complacency is a luxury no one can afford.”
Silver lining
Nonetheless, despite the rise in cyberattacks in the three countries, all is not lost. All respondents indicated that that had in put in place strategies to counter cyberattacks.
A case in point, 68% of firms that Liquid C2 interviewed intimated that they had already recruited appointed cyber security staff members.
To this end, the report revealed that Kenya had the highest percentage at 82% with South Africa at 63% and Zambia 62%.
“This could prove a double-edged sword. The research highlights that over half of all large enterprises in the three countries were victims of a successful cyberattack, with 90% of them being Kenyan businesses,” noted Behr.
As a result, cyber attackers are now employing sophisticated methods like Cybercrime-as-a-Service (CaaS), with the survey noting that it is becoming a common trend in Africa.
“It is time they invested in a partner that provides 24/7/365 protection, rapid response, threat intelligence and prevention, compliance and improved business reputation, all designed to cater to the specific needs of businesses,” Behr advised.
Finally, the report underlines the increasing need for companies to invest in cyber security measures to avoid reputational damage, financial loss, and potential business interruptions.