The Outlook of Cyber Security in African Businesses: Issues and Way-Out
DOI:
https://doi.org/10.22105/masi.v1i2.54Keywords:
Cyber security, African businesses, Business, Artificial intelligenceAbstract
This study explores the outlook of cyber security in African businesses. Issues and ways out in a changing environment were highlighted. Cybersecurity measures need to be strengthened because cybercrime is estimated to cost the African continent about $10 billion annually. With just 20,000 certified cyber security specialists in Africa compared to over 1.3 million in the US, the study emphasizes African firms' low awareness and understanding. Based on empirical research and worldwide cyber security indexes, the paper analyzes the main obstacles to successful cyber security measures, such as resource limitations, knowledge gaps, and insufficient legislative frameworks. It also delved into real-world implementation problems, including disjointed infrastructure and linguistic hurdles. The report suggests cyber security awareness, utilizing technology, and encouraging cooperation through public-private partnerships to minimize these issues. The study further highlights the application of Artificial Intelligence (AI), which is revolutionizing cyber security defenses and promoting the adoption of cyber security in Africa. African businesses can negotiate the complicated cyber security landscape, resulting in a more reliable and secure digital environment and enormous potential for economic growth.
References
[1] O’Brien, J. A. (1997). Introduction to information systems. Richsrd DIrwin.https://www.amazon.com/Introduction-Information-Systems-Text-Only/dp/B004HOTCHC
[2] Onodugo, I. C., & Itodo, S. M. (2016). Cyber crime and Nigerian business environment. National journal of advanced research, 2(2), 28–38. https://thestudiesjournal.com/assets/archives/2016/vol2issue2/2-2-24-992.pdf
[3] World Economic Forum. (2023). Why we need global rules to crack down on cybercrime. https://www.weforum.org/agenda/2023/01/global-rules-crack-down-cybercrime/
[4] World Economic Forum. (2023). Global risks report 2023. https://www.weforum.org/publications/global-risks-report-2023/
[5] Donovan, B. C. S., Daniel, M., & Scott, T. (2016). Strengthening the federal cybersecurity workforce. Obama White House. https://obamawhitehouse.archives.gov/blog/2016/07/12/strengthening-federal-cybersecurity-workforce
[6] Adeniran, A. O., Oyeniran, G. T., Adeniran, A. A., & Mosunmola, M. J. (2024). Digitization in logistics and its effect on sustainability in Nigeria. Discovery, 60(334), 1–11. DOI:10.54905/disssi.v60i334.e15d1420
[7] Adeniran, A. O., Sidiq, O. B., Oyeniran, G. T., & Adeniran, A. A. (2024). Sustainability impact of digital transformation in e-commerce logistics. International journal of innovation in marketing elements, 4(1). DOI:10.59615/ijime.4.1.1
[8] Abdulkarim, U. S. (2012). A study of cybercrime in kano metropolis.
[9] Stella Adesina, O., & Lecturer, S. (2017). Cybercrime and poverty in Nigeria. Canadian social science, 13(4), 19–29. www.cscanada.netwww.cscanada.org
[10] Ribadu, N. (2007). Cybercrime and commercial fraud: a Nigerian perspective.Proceedings of the fortieth annual session of UNCITRAL on Modern Law for Global Commerce. UNCITRAL.
[11] Orji, U. J. (2012). Cybersecurity law and regulation. Wolf Legal Publishers.https://www.researchgate.net/publication/320624755_Cybersecurity_Law_and_Regulation
[12] Tirumala, S. S., Sarrafzadeh, A., & Pang, P. (2016). A survey on internet usage and cybersecurity awareness in students. 2016 14th annual conference on privacy, security and trust, (PST) (pp. 223–228). IEEE. DOI: 10.1109/PST.2016.7906931
[13] Reid, G. (2018). How many internet users will the world have in 2022, and in 2030? Cybersecurity ventures online magazine. https://cybersecurityventures.com/how-many-internet-users-will-the-world-have-in-2022-and-in-2030/
[14] Mittal, S. (2015). Understanding the human dimension of cyber security. Indian journal of criminology and criminalistics, 34(1), 141–152. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2975924
[15] Jaishankar, K. (2007). Establishing a theory of cyber crimes. International journal of cyber criminology, 1(2), 7–9. https://core.ac.uk/reader/30447720
[16] Holt, T. J., Burruss, G. W., & Bossler, A. M. (2010). Social learning and cyber-deviance: examining the importance of a full social learning model in the virtual world. Journal of crime and justice, 33(2), 31–61. DOI:10.1080/0735648X.2010.9721287
[17] Trend Micro. (2017). Is there a budding West African underground market? https://www.trendmicro.com/vinfo/us/security/news/cybercrime-and-digital-threats/west-african-underground
[18] Pratt, T. C., Holtfreter, K., & Reisig, M. D. (2010). Routine online activity and internet fraud targeting: extending the generality of routine activity theory. Journal of research in crime and delinquency, 47(3), 267–296. DOI:10.1177/0022427810365903
[19] Oladipo, T. (2015). Cyber-crime is Africa’s’ next big threat’, experts warn. Retrieved July. https://www.bbc.com/news/world-africa-34830724
[20] Peter, A. S. (2017). Cyber resilience preparedness of Africa’s top-12 emerging economies. International journal of critical infrastructure protection, 17, 49–59. DOI:10.1016/j.ijcip.2017.03.002
[21] Serianu. (2016). Africa cyber security report 2016. https://www.serianu.com/downloads/AfricaCyberSecurityReport2016.pdf
[22] Symantec. (2016). Cyber crime and cyber security trends in Africa. https://securitydelta.nl/media/com_hsd/report/135/document/Cyber-security-trends-report-Africa-en.pdf
[23] Technologies, W. S. (2016). African union cybersecurity profile: seeking a common continental policy. https://usafcg.com/african-union-cybersecurity-profile-seeking-a-common-continental-policy/
[24] PwC. (2022). 2022 global digital trust insights. https://riskproducts.pwc.com/resources/2022-global-digital-trust-insights/
[25] UNCTAD. (2020). E-commerce and the digital economy in Africa: opportunities and challenges. https://unctad.org/topic/ecommerce-and-digital-economy/digital-economy-report
[26] Fortinet. (2022). Global threat landscape report. https://www.fortinet.com/content/dam/fortinet/assets/threat-reports/threat-report-1h-2022.pdf
[27] TechCabal. (2024). Exclusive: first bank employee on the run after diverting ₦40 billion; bank begins recovery. https://techcabal.com/2024/05/31/first-bank-employee-on-the-run-after-40bn-fraud/
[28] TechCabal. (2024). Exclusive: flutterwave loses ₦11 billion in security breach. https://techcabal.com/2024/05/16/exclusive-flutterwave-loses-₦11-billion-in-security-breach/
[29] TechCabal. (2023). Exclusive: Patricia’s newly reported hack happened in 2022 and cost the company $2 million. https://techcabal.com/2023/05/27/patricia-loses-2m-to-hack/
[30] Mphatheni, M. R., & Maluleke, W. (2022). Cybersecurity as a response to combating cybercrime. International journal of research in business and social science (2147- 4478), 11(4), 384–396. DOI:10.20525/ijrbs.v11i4.1714
[31] Mcanyana, W., & Brindley, C. (2020). Insight into the cyber threat landscape in South Africa. https://www.accenture.com/za-en/insights/security/cyberthreat-south-africa
[32] Serianu. (2023). Reimagining the African cybersecurity landscape. https://www.serianu.com/downloads/KenyaCyberSecurityReport2023.pdf
[33] Statista. (2023). Size of cyber security workforce worldwide in 2023, by country. https://www.statista.com/statistics/1172449/worldwide-cyber security-workforce
[34] KPMG Nigeria. (2024). Wale Ajayi. central bank issues guidance on the collection and remittance of the national cybersecurity levy. https://kpmg.com/ng/en/home/insights/2024/05/central-bank-issues-guidance-on-the-collection-and-remittance-of-the-national-cybersecurity-levy-by-financial-institutions.html
Metrics
