South Africa’s G20 presidency in 2025 brings expectations for economic resolution and digital advancement, but rising cyber threats present significant challenges. Reports highlight ransomware and digital extortion as major concerns, with increasing attack frequency and financial impact. Experts recommend enhanced cybersecurity policies, critical infrastructure protection, and collaboration among government, businesses, and individuals to mitigate these risks and fulfill the nation’s potential in the digital economy.
South Africa is recognized as one of Africa’s largest and most diversified economies. With its G20 presidency on the horizon in 2025, there is heightened anticipation for the country to resolve its economic challenges and transition into a leading digital economy. However, as noted by Trisha Govender, Manager of the MANCOSA School of Information and Digital Technology, fulfilling these expectations may prove to be significantly more difficult than presumed.
The 2024 Interpol African Cyberthreat Assessment Report highlights ransomware and digital extortion as critical cyber threats across the African continent. These threats are alarming due to their financial repercussions and the potential for devastating disruptions to vital infrastructure and services. The prevalence and intensity of ransomware incidents are soaring, with research indicating that one in every fifteen organizations in Africa faced a ransomware attempt weekly in early 2023.
In February 2023 alone, over 300 attempted ransomware attacks were recorded in South Africa, signifying a troubling upward trend. The financial toll of such attacks has also escalated, amounting to an average cost of $5.13 million per incident in 2023, a concerning 13% increase from the previous year. Govender expresses a sense of urgency ahead of the 2025 report, noting that Africa remains a prime target for cybercriminals.
Ransomware and business email compromise (BEC) have emerged as the fastest-growing cyber threats in 2023. BEC specifically constitutes 24-25% of financially motivated cyber incidents, primarily affecting employees outside of finance. Govender points out the relentless nature of these threats, further compounded by findings from the Southern African Fraud Prevention Service that technology intensifies fraudulent activities in the region.
South Africa has recognized the importance of addressing cyber threats for several years. Nevertheless, the nation is yet to confront this issue thoroughly. Govender states that while laws like the Cybercrimes Act and POPIA have been enacted, issues such as inadequate enforcement, skills deficits, infrastructure weaknesses, and minimal threat intelligence sharing leave the country vulnerable.
Key risks include ineffective enforcement and the vulnerability of critical infrastructure, which has been highlighted in prior cyber incidents, such as the 2024 breach of the National Health Laboratory Service. To mitigate these challenges, Govender advocates for enhanced funding for cyber enforcement and the establishment of specialized prosecution units. Additionally, enforcing cybersecurity standards in critical industries is essential.
The responsibility for countering cyber risks lies with the government, corporations, and individuals alike. Govender emphasizes that the government must enforce existing cyber laws, develop a cohesive cybersecurity strategy, and boost protection for critical infrastructure. Meanwhile, companies must prioritize robust cybersecurity policies and training, while individuals should practice good cyber hygiene and report suspicious activities.
Despite the formidable cyber challenges, Govender remains optimistic about South Africa’s potential as a leading digital economy in Africa. The country possesses a solid technological ecosystem, rapidly developing AI and fintech industries, alongside government-led digital initiatives. However, strengthening cybersecurity infrastructure is imperative to support sustainable economic growth. To realize this potential, Govender calls for investment in cybersecurity education, retention of skilled professionals, compliance mandates for critical sectors, and improved collaboration between government and business.
In conclusion, South Africa stands at a critical juncture regarding its digital future, facing significant cyber threats that hinder its potential as a leading digital economy. The country must enhance its cybersecurity measures, including enforcement of existing laws and improving infrastructure resilience. By addressing these issues collaboratively, involving all stakeholders, South Africa can leverage its technological strengths and secure its position as a hub for digital innovation.
Original Source: www.zawya.com
