With technology becoming increasingly pervasive, it is disconcerting that only a minority of individuals possess the knowledge to protect themselves against cyber-attacks.
Research conducted in 2022 reveals that a staggering 90% of businesses operating in Africa lack adequate protection against such threats.
As a result, South African companies suffer losses of $570 million annually, Nigerian companies lose $500 million, and Kenyan companies lose $36 million due to inadequate cyber security measures.
During a recent training session held on June 8, 2023, for IT staff working in banks and financial institutions in collaboration with Vuba Technologies, Srimal Shamida, the Managing Director of Vuba Tech in Rwanda, emphasized the critical importance of protecting sensitive banking information.
Shamida asserts that by training their employees, banks can effectively mitigate cyber risks and fortify their security measures.
"We have observed that some IT managers are unfamiliar with the latest techniques for preventing cyber-attacks or lack awareness of how they manifest. Our aim is to alleviate these concerns for our clients, enabling them to operate confidently and adopt secure technology practices," stated Shamida.
Shamida further explained, "There are individuals with academic degrees but possess limited technological skills. Therefore, we are equipping them with practical skills to enhance their expertise in this field."
Cyber security expert, Abel Lawrence, emphasized the need for continuous education to ensure a comprehensive understanding of the latest technologies.
Lawrence insists that staying updated with technological advancements should be accompanied by selecting appropriate security measures to safeguard sensitive data.
"Hackers frequently target large corporations that house vital information. Therefore, these institutions must implement advanced protective measures," emphasized Lawrence. "They must establish robust infrastructures, employ the most effective security solutions, and recruit competent staff, as banks often face internal fraud from current or former employees."
The specialized security system utilized in this training program is known as Palo Alto, which the participants believe will significantly enhance the operational efficiency of their respective companies.
Rwanyenieri Jackson, an employee at the Bank of Kigali, expressed his appreciation for the training, stating that it equips him with the necessary skills to prevent cyber-attacks effectively.
"Palo Alto incorporates cutting-edge technology that detects and thwarts fraudulent attempts to breach our systems," shared Jackson. "While I was already familiar with its usage, the training provided me with valuable insights into new features. I intend to apply these newly acquired skills to bolster our defenses."
Research indicates that 60% of small businesses are forced to shut down within six months after experiencing cyber-attack.
The biannual training sessions offered by Vuba Technologies empower employees of partnering companies to adapt to the latest technological advancements, enabling them to effectively counter cyber threats.