The rise of cybercrime in Africa

The rise of cybercrime in Africa: A growing threat. In recent years, cybercrime has skyrocketed globally, with the number of successful cyberattacks more than doubling in the past five years. This alarming trend is also evident in Africa. In 2023, the continent recorded the highest number of weekly cyberattacks per organization.

These incidents can have devastating consequences for businesses and governments, ranging from disruptions in business operations to large-scale theft of funds and the leak of sensitive data. According to the United Nations Economic Commission for Africa, the lack of preparedness against cyber threats could cost African countries up to 10% of their GDP annually.

Social engineering plays a role in 52% of successful attacks on organizations and 91% on individuals in Africa. About 29% of these attacks involve fake websites mimicking company, bank, or payment system authentication pages.

One of the main challenges for the continent lies in the inadequacy of cybersecurity infrastructure. Nearly 90% of African businesses lack cybersecurity protocols, making them extremely vulnerable to attacks.

In response to this critical situation, experts are calling for a revamp of Africa’s approach to cybersecurity as the continent undergoes digital transformation.

Egypt’s Plan to Address the Electricity Crisis

Praised for its energy achievements, Egypt, after overcoming the 2015 crisis, now faces a new crisis that threatens its progress. In July, Egyptians welcomed the end of over a year of power outages.

To understand the current crisis, it’s essential to recall that power cuts in 2013 partially contributed to the fall of Mohamed Morsi. By 2015, Egypt had launched projects aiming to position the country as a regional energy hub. The establishment of the East Mediterranean Gas Forum also enabled Egypt to export gas to 20 countries. However, by summer 2023, power outages returned as a central public concern.

In response, the Egyptian government temporarily imported $1.18 billion worth of gas and fuel oil, promising to end power cuts by 2025. According to sources, Cairo is now turning to renewable and nuclear energy while exploring new gas fields.

The Private Aviation Market in Africa

Business aviation in Africa is experiencing impressive growth, with a 15% increase in private jet flights last year. This reflects rising demand for fast, efficient air transport, particularly in the oil, gas, and tourism sectors.

Africa has approximately 3.5 private jets per 1,000 millionaires, well above the global average of 1.5 and Europe’s rate of 0.9. While the European market struggles to recover post-Covid, African countries are showing significant growth rates.

The number of active business jets in Africa is expected to grow by 8% annually over the next five years. Currently, Africa has 418 business jets, with South Africa holding the largest fleet (137), followed by Kenya and Nigeria. Business jet flights operate between West Africa and Europe, North Africa to Europe, and East Africa to the Middle East. However, most flights are intra-African.

This expansion is crucial for overcoming the limitations of ground infrastructure and providing essential connectivity for businesses and travelers across the continent.

Read also: Digital Transformation Initiatives in Ghana.