In an age of rapid digital transformation, cybersecurity is no longer a back-burner issue for businesses in Africa. It’s a critical concern, especially for startups and fintech companies navigating the complexities of innovation and security.
In the latest episode of our podcast show, Labari Media Podcast, Editor Joseph Kuuire of Tech Labari sat down with Jacob Nel, Chief Technology Officer at Deimos, to explore the state of cybersecurity in Africa and the measures businesses can adopt to safeguard their operations.
The State of Cybersecurity in Africa
Jacob shared that while cybersecurity awareness has increased over the years, it still lags behind the rapid pace of digital adoption. This gap is especially evident in the fintech space, where the drive for speed often trumps security considerations. According to Positive Technologies, Africa’s low cybersecurity preparedness costs the continent an average of 10% of its GDP annually.
“There’s intent among engineering teams to integrate security,” Jacob noted, “but the speed of innovation often leaves vulnerabilities unchecked.”
Emerging Threats
Cyber threats in Africa have evolved from simple phishing attacks to sophisticated exploits. Social engineering remains a dominant threat vector, leveraging human vulnerabilities through tactics like SIM swapping, weak passwords, and malware-laden USB devices.
Jacob also highlighted the risks posed by cloud misconfigurations, which Gartner predicts will account for 99% of cloud security failures by 2025.
“Social engineering is still the easiest way into a system,” Jacob said. “Attackers are exploiting people, not just systems.”
The Role of Regulations and Guidelines
While cybersecurity regulations exist, Jacob emphasized their limitations, describing them as reactive rather than proactive. He called for a shift toward guidelines that inspire best practices rather than serving as mere checkboxes for compliance. Frameworks like OWASP and the Center for Internet Security offer valuable resources for businesses to strengthen their security posture.
“There’s no standardized regulation across Africa,” Jacob explained. “This makes cross-border operations a challenge, especially for fintechs.”
The Future of Cybersecurity in Africa
Looking ahead, Jacob pointed to emerging trends such as the rise of mobile-first attacks and the increasing complexity of cloud security. He also discussed the dual role of AI in cybersecurity: as a tool for automated threat detection and as a potential enabler of sophisticated scams, such as deepfake-based phishing.
“The adoption of AI in cybersecurity can strengthen defenses, but it also opens new avenues for attackers,” he warned.
Building a Secure Digital Ecosystem
To address these challenges, Jacob advocated for greater investment in cybersecurity talent and collaborative innovation hubs. He urged governments, startups, and industries to work together to bolster the continent’s security expertise.
“Cybersecurity starts with people,” Jacob emphasized. “We need skilled talent to bridge the gaps in awareness, regulations, and practices.”
Advice for Startups
For entrepreneurs building fintechs or other tech-driven businesses, Jacob’s advice is simple but profound: prioritize security from day one. “Security should be a first-class citizen in your company,” he said. “Understand the trade-offs you make and revisit them regularly.”
As Africa’s tech landscape continues to expand, a proactive approach to cybersecurity will be essential to sustaining growth and innovation. By fostering awareness, building talent, and embracing collaboration, the continent can navigate its digital future securely.
