With small and medium enterprises (SMEs) becoming increasingly important in the global economy, the need for a solid security foundation has never been more important. According to The World Bank, SMEs represent about 90% of businesses and more than 50% of employment worldwide.
Formal SMEs contribute up to 40% of GDP in emerging economies, representing significant contributors to job creation and global economic development.
Odirile Tamajobe, Managing Director of Liquid Intelligent Technologies in Botswana, where SMEs account for 50% of private sector employment and 15- 20% of GDP, highlights five of these key security considerations to help the country’s SMEs proactively improve and manage their security practices.
The attack surface has expanded significantly
Today’s businesses are no longer the fixed-location brick-and-mortar buildings of a decade ago. Hybrid working models mean several different access points, from corporate devices to personal mobile devices. Along with this distributed environment comes an increased number of vulnerabilities and potential access points for attackers to exploit. Traditional security measures are no longer sufficient to protect this expanded attack surface, and businesses need to implement next-generation antivirus solutions and monitor all entry and exit points within their networks to mitigate risks.
Identity and access management must be impenetrable
With cyber threats growing more sophisticated by the day, businesses are adopting a zero-trust approach to identity and access management. Because attacks can come from the most unexpected sources, it is important to enforce least-privilege access policies that limit access to sensitive data and systems to authorised users only. Advanced antivirus software [like Microsoft Defender] can automate the detection and response to unauthorised access attempts and reduce the likelihood of breaches.
An endpoint management solution is crucial
Because of the number of devices accessing corporate networks, it is essential to implement stringent endpoint security measures that secure both devices and manage applications [through a solution like Microsoft Endpoint Management]. By centrally managing all devices – whether corporate-issued or personal – businesses can ensure that these devices meet minimum security standards, reducing the risk of unauthorised access to secure networks. Mobile devices also bring the risk of shadow IT, where users download unauthorised applications which in turn compromise corporate systems. Controlling the applications that users can download and use on corporate devices is key to preventing this.
Data security and compliance must be a top priority
Recognising the importance of data privacy, regulations like the European Union’s GDPR (General Data Protection Regulation), South Africa’s POPIA (Protection of Personal Information Act), and Botswana’s Data Protection Act enforce strict data protection regulations. For any business, the protection of its data should be a top priority, with regulatory compliance supplemented by internal governance policies that ensure that data is properly classified, labelled, and encrypted. A unified data governance solution can simplify this task, automating, managing, and governing a business’s entire data landscape, identifying potential risks, and ensuring compliance with regulations.
AI integration calls for advanced security measures
With Africa’s digital transformation gaining impetus, traditional security measures are no longer enough to protect 21st-century businesses. Organisations must invest in advanced security solutions that incorporate AI and analytics to pre-emptively identify and address potential threats. Equally important is investing in the security of the underlying data and systems that will ensure the effectiveness of these AI-driven tools.
Securing businesses of all sizes against cyber threats is non-negotiable. It is also key to engage with a technology service provider like Liquid Intelligent Technologies that has an in-depth understanding of Africa’s cyber landscape, and the solutions and industry partners that will securely position the business for Africa’s digital future.