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Cyberattacks on the rise.
Your daily dose of Kenyan business & finance news
Kenyan Wall Street
October 15, 2024
đ» Between April and June, cyberattacks rose 16.5%
Kenya has officially surpassed over ONE BILLION cyberattacks in Q2 2024 of this year, increasing from 971.4 million from Q1. Malware attacks fell from 33 million between January and March to 31 million between April and June while DDOS incidences dropped significantly from 38 million in the January quarter to 7 million in the quarter under review. The authority attributed the steady rise in incidences to its vivified efforts to detect attacks and stem future cyber threats. Moreover, new regulations in the sector have forced Kenyan firms to strengthen their cyber security measures. What does this mean for your business?
đŠ CBK upgrades payment systems to global standards
Kenyaâs Central Bank has just migrated from the RTGS system to the Global Messaging System (ISO20022). The new system is the global standard for âfinancial messagingâ and is rapidly being adopted by the worldâs top finance destinations. While this change wonât drastically change anyoneâs day-to-day life, the standardization aims to reduce complexity of payments while enhancing efficiency, and making cross-border payments seamless with enhanced interoperability. What does this have to do with the Gray-Listing?
đŹ Postal & courier business âheavily skewed toward menâ
New Communications Authority data shows that men hold more than double the number of roles as women within the industry. The industry as a whole has increased substantially since 2020, growing nearly 109% in 5 short years from 2,252 to 4,706. Despite this increase, the gender disparity within the industry still continues with 2024 recording only 23.5% of the workforce being female. The significant increase in the workforce may allude to many factors including more people opting for things such as groceries or even meals to be delivered beyond simply mail. What does this mean for the future?
đž UNGA President states that Africa needs $194B USD to achieve UN SDGâs
The United Nations General Assemblyâs President, PhilĂ©mon Yang, is worried that Africa will not be able to achieve the UN Sustainable Development Goals by the 2030 deadline. The former Cameroonian Prime Minister (2009-2019) called out the global community for placing Africa in a state of debt distress, citing an âunjust global financial systemâ having created over $1.6T USD development financing gap. How do we move forward from here?
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