AFRICA RISKWATCH – ISSUE 10 – JULY 2017
Dear friends and colleagues,
According to the recently launched Cyber Security Landscape Survey, at least 73% of African business leaders said that they don’t have confidence in their board executives’ ability to take cyber security seriously enough. The survey findings come at a particularly interesting time for Kenya, with the Central Bank of Kenya (CBK) having issued a draft guidance note on cyber risk for banks. Once enforced, this will require licensees to submit their cyber security policy, strategies and frameworks to the CBK by 31 August 2017.
In this issue, we also discuss two East African countries that are likely to see strong economic activity in the coming months, despite scepticism around them. In Sudan, major improvements in the business environment are beckoning as permanent sanctions removal appears increasingly likely.
In Tanzania, President John Magufuli made international headlines when he was elected in October 2015 amid a wave of optimism because of his tough stance against corruption. Magufuli quickly embarked on a campaign to tackle public sector graft and to dismantle corruption networks in his first year in office. Investors and international media were impressed. It seemed that an African leader was matching election rhetoric with action, and a promise to tackle corruption was being fulfilled. We explore if this still the case.
We hope you enjoy this issue of the Africa RiskWatch newsletter and, as always, we value your feedback.
Control Risks Team