Trending topics in the African technology and telecommunications space include the rollout of 5G, the dire need for telecommunications infrastructure and access to broadband spectrum, the steady rise of the fintech sector despite global economic turbulence, the development of cybersecurity and privacy laws across the continent and the rising number of disputes that are driven by data and cybersecurity issues.
“Once the Internet of Things becomes a reality through the rollout of 5G, Africa’s transformation will be meaningfully accelerated through access to the enhanced capabilities of smart cities, homes and agriculture, asset tracking, connected shopping and energy monitoring,” she notes. “Across 2020 and 2021, the region also saw the majority of fintech investment capital coming from various offshore money markets, including west-coast US, the UK and China, as confidence in African financial innovation has risen.
Baker McKenzie’s recently-released Global Disputes Forecast 2022 revealed that digital transformation was driving around 30% of global disputes, followed by cybersecurity/data issues . The report shows how the increase in employees working remotely means more business is carried out on the cloud, bringing an increase in cloud attacks. The direct risks to organisations include loss of IP and confidential information, theft and fraud, disruption to business and reputational damage.