The recent cyberattack on MTN serves as a stark reminder of the growing cyber threat landscape facing businesses worldwide. A risk strategies company has highlighted the increasing number of cybercrime risk protection gaps among companies, surpassing even the challenges posed by load shedding.
According to Spiros Fatouros, CEO of Marsh McLennan Africa and South Africa, cybercrime is no longer a peripheral concern but a central business risk. This surge in attacks aligns with the 2025 Global Risks Report by the World Economic Forum, which identifies cyber risks as a persistent threat to societal and economic stability. The interconnectedness of modern supply chains amplifies vulnerabilities, with 54% of respondents citing it as a barrier to cyber resilience.
Contributing factors such as geopolitical tensions, complex supply chains, rapid adoption of emerging technologies, and international regulatory requirements are fueling the escalating complexity of cyber threats. The widening skills gap further complicates the ability to effectively manage cyber risks.
As cyber threats become increasingly sophisticated, traditional tools are no longer enough to combat cybercriminals. Artificial intelligence (AI) has emerged as a crucial ally in the fight against cybercrime. Interpol’s African Cyberthreat Assessment Report highlighted the rapid growth of cybercrime, with the average number of weekly cyberattacks per organization in Africa increasing by 23% year-on-year in 2023, the highest average globally.
In the face of this evolving cyber landscape, businesses must adopt a proactive and adaptive approach to cybersecurity. Moving beyond reactive measures, the focus should be on developing robust cyber resilience to effectively mitigate cyber risks. The complexity and evolving nature of cyber threats require businesses to stay vigilant and prioritize cybersecurity to safeguard against potential attacks.
