A study by Deloitte reveals that 86% of global organizations are strengthening their cybersecurity. But are Mozambican companies keeping pace?
The “Global Future of Cyber Survey 2024” by Deloitte indicates that 86% of surveyed companies are implementing actions to improve digital defenses to a moderate or high degree, reflecting a growing awareness of the importance of robust cybersecurity programs. Furthermore, 85% of respondents expect their cybersecurity investments to directly help achieve business goals, showing the increasing connection between digital security and market value.
In Mozambique’s case, Frederico Macias, spokesperson for Deloitte, refers to the firm’s 2022 study, “Cybersecurity Survey in Mozambique.” At the time, most companies invested less than 10% of operational costs in cybersecurity. “The banking sector was the top investor and prioritized cybersecurity, as expected, given the nature of its predominantly liquid assets and stricter regulations.” Since then, there has been greater awareness of the need for digital protection. “Domestic companies increasingly recognize the importance of investing in this area to protect their digital assets and maintain operational integrity. Nevertheless, investment remains low, often due to a lack of awareness among top management about cyber risk,” he warns.
Main Risks to Watch
The country is facing a significant increase in cyber threats and digital attacks, which poses an added risk given the digital vulnerability of Mozambican organizations and institutions. Although cyber threats are a global phenomenon, their impact in Mozambique reflects concerning trends identified in the study.
Among the top risks is the loss of trust in companies’ technological integrity, which has become the primary concern in digital security (it ranked sixth the previous year). The reliability, accuracy, and availability of systems and data are critical to organizations’ operational continuity, and any failure can have serious repercussions.
Another key issue is operational disruption. Interruptions in supply chains and disruptions in interconnected business ecosystems continue to pose substantial risks to business continuity. At the same time, reputational damage remains one of the most feared consequences, as corporate image issues can directly affect customer trust and market value. This vulnerability may also hinder talent recruitment and retention, especially in a context where perceived digital instability may drive qualified professionals away.
Beyond these effects, Mozambican organizations may face severe financial and regulatory consequences. Loss of revenue from cyberattacks is an escalating reality, as is the theft of intellectual property, which undermines companies’ competitiveness. In highly regulated sectors like finance and telecommunications, cybersecurity failures can lead to heavy fines, loss of strategic investments, and even a decline in share value.
Mozambique’s Position Among PALOP Countries
“Despite the challenges, the country has made progress by implementing strategies and cooperation measures. While there is still room for improvement, Mozambique is relatively well-positioned among Portuguese-speaking African countries (PALOP) in terms of cybersecurity preparedness, according to the Global Cybersecurity Index 2024,” explains the Deloitte spokesperson.
To strengthen cyber resilience, the country must continue investing in digital security infrastructure, implement legal and technical measures, and develop specialized talent. Additionally, cooperation with international partners is key to sharing strategies and knowledge to fight cybercrime. “The evolution of cybersecurity in the country will be shaped by the use of new technologies, which will also bring new threats—attackers will rely on more advanced tools,” he notes, adding that business needs continue to redefine organizational priorities.
Cybersecurity Should Not Be an Isolated Expense
Cybersecurity should grow alongside an organization and be included from the beginning of new product development, enhancing the effectiveness of protective measures.
According to Deloitte’s study, increasing cybersecurity budgets with continuous investment will improve resilience and generate business value. This is a reality that requires adaptation: today, companies’ assets have evolved, and it is essential to safeguard resources like intellectual property. Through integrated cybersecurity measures, organizations can protect their innovations and maintain a competitive edge.
Measures such as the creation of a new Ministry of Communications and Digital Transformation could demonstrate the government’s commitment to promoting national digitalization. However, according to Macias, “spending on cybersecurity should be integrated into broader budgets, such as those for digital transformation and innovation programs. This investment should reflect cybersecurity as a critical component of digital transformation, not just an isolated expense.”
In Summary
Mozambique needs investment in digital infrastructure, effective regulation, and skilled professionals to strengthen cybersecurity. It is essential to promote collaboration between government, businesses, and society, ensuring the protection of data and systems.
Text: Nário Sixpene • Photography: D&R
