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Why cybercrime matters to Africa

Africa is a continent on the rise. It is growing quickly in terms of population, the economy, and global influence. Today, Africa is home to 1.21 billion people (up from just 800 million in 2000), with a median age of just 19.5 years, the youngest population in the world. With this prominence of youth comes a diverse population that is looking for productive employment, social engagement, free expression, and increased global connectivity. While the downturn in world commodity prices has hit African economies hard, nearly every African nation is poised to grow over the coming years. Some will continue on a trajectory putting them among the fastest growing economies in the world. Technology adoption continues to rise as well, with mobile device ownership growing exponentially, social media use increasing, and the Internet of Things (IoT) quickly becoming a reality. Even the most conservative metrics show that Africa is poised to make great gains and help fuel global growth into the future. Along with this rapid economic growth, comes a burgeoning e-commerce industry that is poised to expand to an estimated $75 billion USD by the year 2025.

With this growing prosperity and digitization however new risks and vulnerabilities arise that could undermine progress. Chief among these risks is the global rise of cybercrime. As the African Continent’s economy moves online, citizens, their computer systems, and the Continent’s information technology (IT) infrastructure become enticing targets for an increasingly professional cadre of cybercriminals. The growth of cybercrime is by no means just an African problem. In fact, in 2013, the total global direct cost of cybercrime reached an estimated $113 billion USD. In South Africa alone, 73% of adults reported experiencing cybercrime, which is estimated to have cost the South African economy 337 million USD. Compounding the problem is the fact that many Africans are still using outdated, or in many cases pirated, software. Nearly one quarter of users in Africa are currently using the operating system Windows XP that was first released in 2001, and for which software patches were discontinued in 2014.

Talk to us at Cyberguard and we can help you solve your Data and Information Security issues and provide you with the best solutions available! Just hit us up today on +263786522548