Safaricom’s Cybersecurity Summit: A Call to Action for a Safer Digital Future
As part of the ongoing Cybersecurity Awareness Month, Safaricom has taken a significant step in addressing the pressing issue of cyber threats by convening a two-day industry-wide Cybersecurity Summit. This event, themed “Secure Innovation, Unstoppable Growth for Kenyan Financial Services,” aims to rally businesses, governments, and individuals to invest in technologies that safeguard sensitive information and critical systems from the ever-evolving landscape of cyber threats.
A Gathering of Experts
The summit brought together nearly 500 cybersecurity leaders and professionals from various sectors, creating a platform for dialogue on the latest trends in cybersecurity and the challenges posed by evolving enterprise networks. The event underscored the urgent need for collaboration and innovation in the face of increasing cyber threats, particularly in the financial services sector, which is often a prime target for cybercriminals.
The Rising Threat of Cybercrime
Ramakrishna Balagopa, Vice President Business – EMEA at SISA, Infosec Company, highlighted the sophisticated tactics employed by cybercriminals today. “Cybercriminals are increasingly using advanced tactics such as ransomware, phishing, and social engineering to infiltrate financial systems,” he noted. These attacks are not only becoming more frequent but also more personalized and targeted, aiming to compromise sensitive data and financial assets. Balagopa emphasized the importance of organizations exploring emerging technologies to bolster their cybersecurity resilience.
The State of Cybersecurity in Africa
A recent Interpol African Cyberthreat Assessment report for 2024 paints a concerning picture of the cybersecurity landscape in Africa. The report indicates that Africa experienced the highest average weekly cyber-attacks per organization in the second quarter of 2024, primarily due to inadequate cybersecurity infrastructure. Alarmingly, nearly 90% of African businesses lack robust cybersecurity protocols, leaving them vulnerable to attacks that could have devastating consequences.
In Kenya alone, the situation is equally dire. Between April and June 2024, the Communications Authority of Kenya reported over 1.1 billion cyberthreat events. This surge can be attributed to several factors, including the proliferation of Internet of Things (IoT) devices, insecure system configurations, deprecated software, and the rapid evolution of new technologies such as Artificial Intelligence.
Safaricom’s Commitment to Cybersecurity
In response to these challenges, Safaricom is committed to providing a comprehensive suite of solutions designed to connect, protect, enable, and transform businesses. Safaricom’s Chief Executive, Peter Ndegwa, emphasized the company’s dedication to ensuring business continuity even in the face of cyberattacks. “We offer security advisory, network security, online/data/web security, cybersecurity operations, and physical security, including a video surveillance system. Our enhanced cloud solutions and reliable connectivity and payment services further bolster our commitment to cybersecurity,” he stated.
Empowering MSMEs Against Cyber Threats
The summit also highlighted the vulnerabilities faced by micro, small, and medium enterprises (MSMEs) in the digital landscape. Safaricom’s Chief Enterprise Business Officer, Cynthia Kropac, pointed out that MSMEs are particularly susceptible to cyber threats due to their limited understanding of security risks and inadequate capital allocation for mitigation. “With growing digitalization globally, there is a pressing need to equip MSMEs with knowledge and hands-on training on how to identify and combat cyber threats,” Kropac remarked. This empowerment is crucial for fostering a more cyber-resilient business environment.
Conclusion: A Collective Responsibility
The Cybersecurity Summit organized by Safaricom serves as a vital reminder of the collective responsibility that businesses, governments, and individuals share in combating cyber threats. As the digital landscape continues to evolve, so too must our strategies for protecting sensitive information and critical systems. By investing in innovative technologies and fostering a culture of cybersecurity awareness, we can work together to create a safer digital future for all. The call to action is clear: it is time to prioritize cybersecurity and ensure that we are prepared to face the challenges that lie ahead.