CIO East Africa in conjunction with the International Data Group (IDG), yesterday held its second annual Africa Security Summit at the Norfolk Hotel, Nairobi. The summit is part of CIO East Africa continental events that focus on digital disruption technologies including big data, cloud and the Internet of Things.
The Summit seeks to help C-level executives on the continent better understand the true threats and what is required to address them and how effective, efficient solutions deliver competitive advantages.
Through a unique blend of focused Executive Visions panel discussions, analyst sessions, visionary Keynote presentations and networking breaks, technology executives shared insights and gained critical takeaways about the most critical issue they face, Security.
Speaking during the summit, Laura Chite CEO, CIO East Africa said the summit has created an opportunity for participants to achieve 3 things: Broaden their industry knowledge, Experience latest innovations & expand their connections.
“IT Security has become a big concern in Africa today and it is important that we address this as a critical business issue and not just leave it to Technology experts. This year six key network and IT Security trends are expected. Malware will continue to evolve, IoT complexity will lead to security issues and further DDoS attacks, Applying AI and machine learning to security, SDN rises from the trough of disillusionment and SD WAN will take off.” she said.
Laura further added that the Africa Summit also explored the dangers facing organizations based on three key pillars Cyber Security, Content and Data Privacy and Governance, Risk and compliance.
Every year, organizations pour billions of dollars into information security. And like clockwork, every year hackers find new ways to access and steal sensitive data. Businesses face major information security threats.
Speaking at the same event Robert Mugo, CEO, ICT Authority said, “With Government digitizing all its systems, we have realized there is an increase in cyber related crimes targeting Government agencies. The Government currently has a plan underway to invest close to USD 50 million to help secure its systems.”
The event comes at a time when Cybersecurity Ventures predict global spending on cybersecurity products and services to exceed $1 trillion cumulatively over the next five years, from 2017 to 2021.
In 2004, the global cybersecurity market was worth $3.5 billion and in 2017 it is expected to be worth more than $120 billion growing by roughly 35X over 13 years. Indeed, the market for stolen credit cards alone is worth of US$100 billion, handily outstripping the entire global cocaine market.
Last year, the Africa Security Summit was held in Dar-es-Salaam Tanzania with 180 information technology Professionals from across East Africa attending it.