Connect with us

Hi, what are you looking for?

Kenya

Kenya lost Sh17.7Bn to cyber crime in 2016: Report

The Deloitte report states 96 percent of Kenyan companies spent less than $5,000 in cyber security

NAIROBI, Kenya, Feb 8 – Kenya lost Sh17.7 billion to cyber crime in 2016 according to a Deloitte report on technology, media and telecommunications.

The cost of the attacks was the highest in Africa at 0.28 percent of the GDP compared to the continent’s average of 0.07 percent of GDP.

The report links increased Denial-of-Service attacks to the growing number of connected devices, online availability of malware methodologies which allow relatively unskilled attackers to marshal insecure devices and use them to launch attacks.

“East Africa region and particularly Kenya are becoming a target of choice for cybercrime,” Erik van der Dussen, TMT Leader at Deloitte East Africa said.

Kenya has been ranked 69th most vulnerable country in the Global Threat Index out of 127, 45th in 2015.

The report predicts 2017 global sales of tablets will likely be fewer than 165 million units, “down by approximately 10 percent from the 182 million units sold in 2016, suggesting we have passed the peak demand for these devices.”

In media, TV advertising revenue in 2017 is expected to be flat with 2016, a positive outlook for an industry that too often is declared a vanishing business.

In Kenya, 85 percent of print readers are male, often interested in politics

“Print media in Kenya continues to decline under the pressure from online news and social media,” said van der Dussen.

“Twitter is also becoming a more and more popular source of news, while radio remains leader for advertising thanks to its high reach and its low cost.”

Advertisement. Scroll to continue reading.

An unlikely winner in 2017 is the return of vinyl which is expected to continue its resurgence, approaching $1 billion globally in revenues for all vinyl related revenues for the first time this millennium.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...