CYBER SCAPE AFRICA | Q2
East Africa
as an Export
Center of
Cyber Talent
A survey carried in out in 2017 indicated that 95% of
African organizations operated below globally acceptable
cyber security standard. The cost of cyber crime had sky
rocketed from a $ 2 billion in 2016 to $ 3.5 billion in 2017.
East Africa nations – Kenya, Uganda and Tanzania were on
the top 5 list with a total loss of $ 376 billion. During the
same period UNCTAD (United Nations Conference on
Trade & Development) reported that Foreign Direct
Investment (FDI) flow in Africa slumped to $42 billion in
2017, a 21% decline from 2016. Cost of cybercrime in
Africa has a direct correlation with FDI inflow as well as
the economic growth of the continent.
16
2019
www.yelbridges.com
The Cyber4Growth project was launched to
promote economic growth in East Africa by
improving cyber resilience among organizations
in the region. The project was funded by German
government through KFW DEG and other
German corporates - SEC Consult, Tuv Rheinland,
CYRISO(just to name a few). The project offered
private and public organizations in E.Africa with
hands-on training which is absolutely essential to
raise the level of security awareness on one
hand, but also to promote the economic compet-
itiveness on the other.