Cyber Vulnerabilities👨🏽💻👨🏽💻
#208: Cybersecurity in Africa is at a pivotal point, balancing the promise of digital transformation and the dangers of cyber threats is important.
Hello Venturer,
Africa has been experiencing massive growth in its digital economy. However, as with most things that provide benefits, there are downsides. The growth of the digital economy also brings heightened risks and vulnerabilities, making cybersecurity a critical concern for governments, businesses, and individuals across the continent.
The Cyber Security Experts Association of Nigeria predicted an increase in insider threats for the nation in 2024, a prediction that appears to be taking shape. On the 16th of May 2024, Nigerian fintech leader Flutterwave graced the news after a news report from Tech Cabal revealed that a suspected cyberattack on the company resulted in the alleged loss of ₦11 billion ($7.2 million) in April 2024.
This security breach comes a month after obtaining a court order to recover $24 million lost to unauthorised POS transactions in 2023. Cybersecurity in Africa is at a pivotal point, balancing the promise of digital transformation and the dangers of cyber threats is important.
This week, we look at three big stories from Africa’s business and policy landscape you should remember.
Boluwatife Areola
Content Developer, Ventures Africa
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