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 by convening a two-day industry-wide Cybersecurity Summit. This event emphasizes the urgent need for businesses, governments, and individuals to invest in technologies that safeguard sensitive information and critical systems from the ever-evolving landscape of cyber threats.
Theme and Participation
Under the theme “Secure Innovation, Unstoppable Growth for Kenyan Financial Services,” the summit has attracted nearly 500 cybersecurity leaders and professionals from various sectors. This gathering serves as a platform for discussing the latest trends in cybersecurity and the challenges posed by increasingly complex enterprise networks. The presence of industry experts highlights the collective commitment to enhancing cybersecurity measures across the region.
The Growing Threat Landscape
Ramakrishna Balagopa, Vice President Business – EMEA at SISA, Infosec Company, underscored the alarming tactics employed by cybercriminals today. “Cybercriminals are increasingly using advanced tactics such as ransomware, phishing, and social engineering to infiltrate financial systems,” he stated. These attacks are not only becoming more sophisticated but also more personalized, targeting sensitive data and financial assets with alarming precision. Balagopa emphasized the necessity for organizations to explore emerging technologies to bolster their cybersecurity resilience.
Africa’s Cybersecurity Challenges
The urgency of the summit is further underscored by the findings of the Interpol African Cyberthreat Assessment Report for 2024. The report reveals that Africa has experienced the highest average weekly cyber-attacks per organization in the second quarter of 2024. A staggering 90% of African businesses lack adequate cybersecurity protocols, rendering them highly vulnerable to attacks. This statistic highlights a critical gap in the continent’s cybersecurity infrastructure that must be addressed to protect businesses and consumers alike.
The Kenyan Context
In Kenya, the situation is equally concerning. Between April and June 2024, the Communications Authority of Kenya reported over 1.1 billion cyber threat events. This surge in cyber threats can be attributed to several factors, including the rapid proliferation of Internet of Things (IoT) devices, insecure system configurations, and outdated software. Additionally, the dynamic nature of new technologies, such as Artificial Intelligence, has introduced new vulnerabilities that cybercriminals are eager to exploit.
Safaricom’s Commitment to Cybersecurity
In response to these challenges, Safaricom is committed to providing a comprehensive suite of cybersecurity solutions designed to protect businesses from cyber threats. “At Safaricom, we continue to provide a variety of solutions that connect, protect, enable, and transform business, ensuring business continuity even in the face of cyberattacks,” stated Peter Ndegwa, Safaricom’s Chief Executive. The company offers a range of services, including security advisory, network security, online data protection, cybersecurity operations, and physical security measures such as video surveillance systems. Furthermore, Safaricom has enhanced its cloud solutions and reliable connectivity and payment services to support businesses in their cybersecurity efforts.
Empowering MSMEs Against Cyber Threats
Cynthia Kropac, Safaricom’s Chief Enterprise Business Officer, highlighted the vulnerability of micro, small, and medium enterprises (MSMEs) in the face of growing digitalization. “With growing digitalization globally, MSMEs remain vulnerable to cyber-attacks due to a lack of understanding of security risks and limited capital allocation to mitigate such threats,” she remarked. Kropac emphasized the importance of equipping MSMEs with knowledge and hands-on training to identify and combat cyber threats effectively. By fostering a culture of cybersecurity awareness and resilience, these businesses can better protect themselves in an increasingly digital world.
Conclusion
The Cybersecurity Summit organized by Safaricom serves as a crucial reminder of the pressing need for enhanced cybersecurity measures across all sectors. As cyber threats continue to evolve, it is imperative for businesses, governments, and individuals to invest in robust technologies and training to safeguard sensitive information and critical systems. By fostering collaboration and knowledge sharing within the cybersecurity community, Kenya can pave the way for a more secure digital future, ensuring that innovation and growth remain unstoppable in the face of adversity.