Malawi draws up new cyber security guidelines to protect finance

Batten down
the hatches

Malawi to better
protect finance sector.

Tuesday, Feb 18th

Cyber risk on the rise in Zimbabwe

Cyber risk on the rise in Zimbabwe.

Rapid technological developments and growing dependence on social media and other modern day information technology platforms has also raised cybercrime and related risks for Zimbabwean organisations, a consultancy company said.

Digital security solutions company, Gemalto, said in recently released findings that there were 888 million data breaches in the first half of this year, a 10% increase on last year's breaches worldwide.

Dr Whisper Rukanda, an executive at Mornipac Consultants, said this week that cybercrime "continues to challenge the industry and financial infrastructure".

He adds that that there is growing need to "manage, minimise and defeat perpetrators" through expert training and regulation of the cyber-industry through responsive laws and awareness of such threats.

"Digital transformation (DT) – the use of technology to radically improve performance or reach of enterprises – is becoming a hot topic for companies across the globe. Executives in all industries are using digital advances such as analytics, mobility, social media and smart embedded devices, and improving their use of traditional technologies such as ERP, to change customer relationships, internal processes, and value propositions," the consultancy company states.

Data handling platforms and other cyber platforms, adds the company, have become critical while the "he safety and replacement for such data is key" for businesses and organisations in Zimbabwe.

Mornipac Consultants will run a cyber risk insurance school in Harare in November.

Additionally, financial institutions in Zimbabwe are increasingly looking up to technology to store data. However, cyber criminals are also on the look-out for this data and are increasingly developing new channels to disrupt systems and are causing wide scale disruption and costs for institutions.


How The Hardworking Diaspora Are Supporting The Zimbabwean Economy Published on 05 February 2020

WorldRemit sees volume of remittances to Zimbabwe almost double

What of Vodafone Ghana's economic future? Published on 12 February 2020

Transfer of control of the company to Vodacom Group reignites speculation over company's local listing.

Zimbabwe launches first computer plant Published on 20 January 2020

Project is a joint venture between TelOne and Chinese firm Inspur.

Is your organisation prepared for the coronavirus? Published on 11 February 2020

Organisations should consider the direct and indirect impacts of the pandemic when evaluating whether they are prepared for the coronavirus, says Padma Naidoo, General Manager: Advisory Services at ContinuitySA.