Vodacom Business Unveils Cybersecurity Report | IT News Africa

In an era of rapid digital transition, cybersecurity is no longer a luxury—it is a need. Vodacom Business has launched its latest cybersecurity research, titled Cybersecurity as an Imperative for Growth, which sheds light on the current condition of cybersecurity in South Africa.

The analysis, commissioned in collaboration with Omdia, provides critical insights into how businesses may improve their digital resilience in the face of growing cyber threats.

One of the report’s most shocking conclusions is that 80% of South African businesses reported witnessing a cyberattack in the previous year. Despite these concerns, only 32% of firms prioritize cybersecurity training for their workforce. The disparity between threat knowledge and readiness exposes a key weakness in South Africa’s economic ecosystem.

According to data from the South African Banking Risk Information Centre (SABRIC) and the Council for Scientific and Industrial Research (CSIR), the annual cost of these cyberattacks is a whopping R2.2 billion. This financial toll emphasizes the importance of incorporating cybersecurity into a business growth strategy.

Digital Transformation and the Growing Threat Landscape

Businesses are becoming more vulnerable to a variety of security threats as they adopt cloud technology, IoT, and mobile networks to fuel growth.

Videsha Proothveerajh, Director of Vodacom Corporate, stated that cybersecurity should be viewed as a safeguard and a driver of corporate success.

“Just as the cloud, IoT technologies, and mobile networks have empowered businesses, cybersecurity needs to be seen as an important enabler for growth. Our report provides vital information on why businesses need to prioritize cybersecurity. It serves as an essential resource for organizations and decision-makers looking to understand cybersecurity risks and implement effective strategies to protect their assets and data.”

The research looks into numerous facets of cybersecurity, focusing on the most common cyber risks impacting businesses today. Ransomware remains the most serious of these, with firms in various industries—including public, healthcare, and finance—frequently targeted.

The Growing Threat of Ransomware

A key finding in the report highlights that ransomware attacks continue to be a top concern for organizations worldwide. 36% of companies surveyed in South Africa expressed confidence in their ability to prevent a ransomware attack without major operational disruption. However, 41% of organizations globally identify ransomware as one of their top three cybersecurity challenges. This is particularly concerning for industries handling sensitive data, such as finance and healthcare, where a ransomware attack could cripple operations and damage reputations.

In addition to ransomware, the rise of AI-powered cyberattacks adds a layer of complexity, making it harder for businesses to defend against sophisticated and evolving threats. Coupled with a global shortage of skilled cybersecurity professionals, organizations face increasing pressure to protect their infrastructure and digital operations from growing cyber risks.

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The Path Forward: Cybersecurity as a Business Imperative

According to the 2024 Cybersecurity Decision Maker Survey by Omdia, 42% of global organizations now list cybersecurity as their top IT priority—a trend that is also mirrored in South Africa. With this in mind, Vodacom Business stresses that businesses must approach cybersecurity with a proactive mindset.

Proothveerajh reinforced the importance of a robust cybersecurity strategy, stating, “By prioritizing cybersecurity, businesses can protect their reputation, maintain customer trust, and ensure operational continuity. Vodacom Business is committed to supporting businesses in their cybersecurity journey, equipping them with the tools and knowledge they need to safeguard their operations. We recognize that the question isn’t whether an attack will happen, but when. Turning to a digital solutions provider that understands the ins and outs of your operations is key to building a security posture that can mitigate risk, from the factory floor to the C-suite.”

As businesses in South Africa and around the world continue to navigate the challenges of digital transformation, the importance of cybersecurity has never been clearer. Vodacom Business’ report serves as a crucial reminder that organizations must take proactive steps to defend against the growing wave of cyber threats. By integrating robust cybersecurity frameworks into their operations, businesses can not only protect their assets but also lay the foundation for sustainable growth in the digital age.