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Business"We cannot afford to be victims" - Yaw Osafo-Maafo addresses escalating cyber...

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“We cannot afford to be victims” – Yaw Osafo-Maafo addresses escalating cyber threats

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The inaugural Global Conference on Cyber Capacity Building (GC3B) took place in Accra, highlighting the critical need for collaborative efforts to address the escalating cybersecurity vulnerabilities and risks.

Participants emphasized that these challenges could impede economic growth, undermine societal trust in the digital realm, weaken critical infrastructure resilience, and ultimately jeopardize individuals’ lives and well-being if left unaddressed.

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Co-organized by the Global Forum of Cyber Expertise (GFCE), the World Bank Group, the Cyber Peace Institute, the World Economic Forum, and Ghana’s Cyber Security Authority under the Ministry of Communications and Digitalisation’s leadership, GC3B aimed to raise awareness about each nation’s imperative need for expertise, knowledge, and skills to invest in their digital future.

The conference sought to inspire countries to collaborate in developing these capabilities, fostering a free, open, and secure digital world.

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It brought together high-level leaders, cybersecurity experts, capacity-building specialists, and representatives from the international development community to collaborate on shared objectives and solutions.

Yaw Osafo-Maafo, Senior Advisor to President Nana Addo Dankwa Akufo-Addo, expressed concerns about the growing threats to global digital development by cybercriminals, emphasizing the need to avoid becoming victims. Positive Technologies, a reputable cybersecurity research organization, reported that in the first half of 2022 and 2023, the global financial sector experienced the highest rate of cyberattacks at 18%, followed by telecommunications companies (13%), government agencies (12%), trade organizations (12%), and the industrial sector (10%).

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Additionally, Cybersecurity Ventures highlighted that the total damages incurred by cybercrime, including recovery and remediation costs, amounted to $3 trillion in 2015, $6 trillion in 2021, and could potentially reach $10.5 trillion annually by 2025.

“The threat landscape has become increasingly volatile. Experienced cybercriminal groups continue to grow and create more sophisticated strategies and tools. These challenges call for the need for governments, businesses, and stakeholders within the cyber ecosystem to collaborate and cooperate integrating holistic strategies that will address these complex threats.

“Therefore, a gathering such as this is of great significance to build the capacity of state and non-state actors as a prerequisite to handling these emerging threats in cybersecurity. It is imperative to build the relevant skills, knowledge, and infrastructure needed to safeguard our digital assets, investments in information communication technologies (ICTs), and other digitalisation initiatives,” Mr. Osafo-Marfo stated.

Communications and Digitalisation Minister, Ursula Owusu-Ekuful, emphasized the necessity of collaboration to address the rising cases of cybercrimes, stating that “beyond the numerous opportunities are existential threats that we must not lose sight of.”

Highlighting that Africa is significantly impacted by this global outlook due to the borderless nature of cybercrime, Mrs. Owusu-Ekuful pointed out that in the second quarter of this year, the continent witnessed the highest average number of weekly cyber-attacks per organization. This average, totaling 2,164 attacks, represented a notable year-on-year increase of 23% compared to the same period last year.

“These increasing threats mean we must prioritise our cybersecurity efforts both at a national and international level. Sharing from Ghana’s experience, the government of Ghana is implementing measures to build a robust and resilient cybersecurity architecture. Domestic and international cooperation is the hallmark of our cybersecurity efforts and a strategic imperative enshrined within our National Cybersecurity Policy and Strategy and the Cybersecurity Act, 2020 (Act 1038),” she stated.

The implementation of digitalization has tangibly showcased how technology can contribute to a brighter future. The utilization of digital technologies has played a crucial role in economic growth, enhanced productivity, and progressed human and social development. Consequently, it has been acknowledged as a pivotal factor in achieving the goals set out in the 2030 Agenda for Sustainable Development.

Simultaneously, Chris Painter, President of the GFCE Foundation, noted that digitalization has introduced new challenges, necessitating the development of expertise and skills to effectively address the strategic, institutional, regulatory, and security requirements for a successful and lasting digital transition.

“This is challenging for every nation and organization, but it does place a disproportionate burden on low- and middle-income countries,” he stated. “On the one hand, we see that persisting digital inequalities create barriers to developing countries in reaping the digital dividends. On the other hand, the unprecedented increase in connectivity has also given ground to the emergence of new digital risks and vulnerabilities with fundamental impacts beyond the online world,” he added.

As we are immersed in this ‘digital of everything’ era, the capacity to anticipate, manage and respond to digital risks and be cyber resilient is central for the delivery of key development outcomes and in supporting the Sustainable Development Goals.

“The stakes are high to ensure that no country or individual is left behind, or below the ‘cyber poverty line’” he stated.

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