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Flagging The Conscience Of Truth

Cybersecurity Threats Rise in Africa, Dell Urges Preparedness

ByWeb Manager

Jul 19, 2023

A recent report by Dell Technologies has shed light on the vulnerability of approximately 50% of African companies to significant cyber-attacks due to their lack of preparedness in handling such threats.

During a forum held in Lagos, Dell Technologies collaborated with CWG and Mitsumi to share insights on effective strategies for mitigating the escalating wave of cyber-attacks, many of which remain unreported.

The report revealed a staggering 600% surge in cyber-attacks across Africa in the past two years, primarily attributed to the unpreparedness of businesses.

Furthermore, the report indicated that ransomware affected 61% of companies in the region in 2020 alone, resulting in an estimated annual loss of $4 billion. Interestingly, the report also highlighted that a significant 88% of data breaches were caused by employee errors.

Ashraf Helmy, Regional Sales Manager for Dell, emphasized that the frequency of these attacks has increased due to the growing value of data.

Alternate Headline: African Companies Unprepared for Cyber-Attacks, Dell Technologies Report Warns

According to a recently released report by Dell Technologies, nearly half of the companies in Africa are at high risk of experiencing severe cyber-attacks due to their lack of readiness in handling such threats.

During a forum held in Lagos, Dell Technologies collaborated with CWG and Mitsumi to share insights into effective strategies for addressing the rising tide of cyber-attacks, many of which remain undisclosed.

The report disclosed a staggering 600% surge in cyber-attacks across the African continent over the past two years, primarily attributed to the unpreparedness of businesses.

Moreover, the report indicated that ransomware affected 61% of regional companies in 2020, resulting in an annual loss of approximately $4 billion. Notably, the report highlighted that a significant 88% of data breaches were caused by mistakes made by employees.

Ashraf Helmy, Regional Sales Manager for Dell, underscored that the value of data has contributed to the increased frequency of these attacks.

“Data is the number 1 asset in the world today. The ubiquity of data is also what also increases the vulnerability of companies. The implication is that companies now face multiple penetration points. A report by Verizon showed that 90% of data breaches are financially motivated.

“The question is not if you will be attacked, because you will be attacked. The question is, “When you are attacked, what recovery tool would you use?” Helmy said.

Many reports have also shown that a lot of companies that have been attacked eventually paid a ransom in the hopes of recovering the data, and most of the time they never recover the data. Dell said it has developed tools that can help companies recover their data. This includes a data vault which Helmy said is a must-have for every company.

Presenting a keynote at the forum themed: ‘Tech-Driven Future-Building Tomorrow’s Innovation’, Senior Systems Engineer at Dell Technologies, Adekunle Windapo, advised organizations to invest in technology to remain relevant and competitive.

He also stressed the need for collaboration and explained that without collaboration, no organization could successfully innovate. He advised organizations to simplify their Information Technology (IT) processes to enhance productivity.

According to him, Dell Technologies, which recently invested $7.9 billion in research and development, will help organizations to turn their ideas into innovation for profitability through its solutions.

Also speaking at the forum, the Chief Operating Officer at CWG, Afolabi Sobande, said the partnership between CWG, Dell Technologies, and Mitsumi brought together the best of expertise and resources to create an exceptional platform for thought leadership, knowledge sharing, and collaboration.

He disclosed that Dell is the technology partner and owner of Mitsumi, an IT distribution company with a presence in Nigeria while CWG deploys the technology to the market.

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