According to a recent pan-African cybersecurity report published by Liquid C2, a business unit of Liquid Intelligent Technologies, cyber-attacks on Kenyan businesses have risen by 82 percent. The report, titled “The Evolving Cyber Security Landscape in Africa 2022,” also covers South Africa and Zambia, where cybercrime has increased by 62 percent. The findings shed light on the evolving cyber threats faced by large enterprises in these three countries.
David Behr, CEO of Liquid C2, expressed his concerns about the report’s findings, stating that companies cannot afford to be complacent despite implementing more cybersecurity controls. He emphasized the importance of consistent vigilance in the face of rapidly evolving cyber threats. Behr added that complacency is a luxury no one can afford.
The report revealed that all the surveyed companies had made significant advancements in their cloud and digital strategies, as well as their cybersecurity capabilities. In fact, 68 percent of the interviewed businesses reported appointing cybersecurity staff members or partnering with cybersecurity teams in the past year.
The research highlighted that over half of all large enterprises in the three countries surveyed had fallen victim to successful cyber-attacks, with 90 percent of them being Kenyan businesses. The increasing popularity of sophisticated methods like Cybercrime-as-a-Service [CaaS] in Africa indicates that outdated technologies and processes are no longer sufficient.
To address these challenges, Behr suggested that companies should invest in a partner capable of providing comprehensive protection, rapid response, threat intelligence and prevention, compliance, and improved business reputation. He stressed the need to cater to the specific cybersecurity needs of businesses.
The report also outlined the top methods employed by cybercriminals when targeting companies. Phishing or spam attacks via email accounted for 61 percent of the attacks, followed by compromised passwords at 48 percent, and data breaches and attacks at 44 percent. Additionally, 61 percent of the companies surveyed reported that breaches occurred as a result of remote or hybrid working arrangements.
A concerning revelation from the report is the growing gap of 100,000 certified cybersecurity professionals in Africa. With an estimated count of only 7,000 certified professionals, the continent faces a shortage of experts, with a ratio of one professional for every 177,000 people. The lack of available data on African governments’ investment in cybersecurity further compounds the magnitude of the problem.
The report underscores the urgent need for companies to invest in cybersecurity measures to mitigate reputational damage, financial losses, and potential business disruptions. It also emphasizes the importance of collaborating with trusted Managed Security Services Providers [MSSPs] to develop and refine cybersecurity strategies.