Over Half of Africans Fear Financial Losses from Cybercrime.

Monday, February 17, 2025

By inAfrika Reporter,

JOHANNESBURG, South Africa – A recent survey conducted by KnowBe4 AFRICA has revealed that 58% of respondents are very concerned about cybercrime, a figure that has nearly doubled from 29% in 2023. The fear of online fraud and financial losses remains a primary concern, particularly as cybercriminals leverage AI-assisted techniques to enhance their attacks.

The cybersecurity landscape in Africa is evolving rapidly, presenting both challenges and opportunities. The continent has seen a significant increase in cybercrime, with ransomware, digital extortion, and online scams becoming more common. South Africa alone reported losses amounting to $3 billion from digital banking and mobile app crime in 2023, according to the SA Banking Risk Information Centre. AI-generated content is being used to impersonate officials and executives, while social engineering attacks are becoming more sophisticated.

KnowBe4 AFRICA’s survey, conducted annually since 2019, polled 800 adults across Morocco, South Africa, Nigeria, Ghana, Egypt, Kenya, and Botswana. The study aimed to assess respondents’ cybersecurity awareness, digital habits, and online security practices. Anna Collard, SVP of Content Strategy and Evangelist at KnowBe4 AFRICA, noted that while some challenges remain unchanged, new threats such as deepfake technology are emerging.

One of the key insights from the survey is the heightened level of concern about cybercrime among Africans compared to two years ago. The percentage of respondents who described themselves as “very concerned” nearly doubled from 29% in 2023 to 58% in 2025. Fear of online fraud and financial loss remains at the forefront of these concerns.

The survey also highlighted a rise in smartphone penetration across Africa, with mobile data usage increasing from 71% in 2023 to 75% in 2025. Additionally, mobile financial services usage surged from 63% to 85%, reflecting greater financial inclusion through digital means. While this increase is beneficial for economic development, it also expands the attack surface for cybercriminals. Collard emphasized the importance of mobile-centric security education to mitigate these risks.

Another notable trend from the survey is the increased use of WhatsApp for professional communication. Traditionally used for personal messaging, work-related usage of WhatsApp rose from 89% in the previous survey to 93% in 2025. Other popular applications for work among respondents included email, Facebook, Instagram, LinkedIn, and Zoom.

Collard pointed out that the growing use of WhatsApp for work signifies a further blurring of lines between personal and professional digital interactions. This can expose users to additional risks, as personal devices often lack the same security protocols as corporate-managed ones.

A concerning trend identified in the survey is the increasing willingness of Africans to share personal information online. The percentage of respondents who claimed they were “very unlikely” to give away personal data dropped from 29% in 2023 to 14% in 2025. Additionally, 14% of respondents admitted to being comfortable sharing personal details, with 8% doing so in exchange for benefits such as discounts, and 6% admitting to sharing personal information frequently.

“This trend highlights the urgent need for increased awareness and training on personal security,” said Collard. The survey also showed a slight decline in the understanding of strong passwords, dropping from 62% in 2023 to 58% in 2025. Meanwhile, comprehension of multi-factor authentication remained steady at around 58%.

Collard emphasized that the survey’s findings underscore vulnerabilities that should be prioritized by individuals, organizations, and policymakers. Despite growing concerns over cybercrime, knowledge gaps persist, necessitating targeted education and training to strengthen cybersecurity across the continent.

“The survey highlights key areas that need urgent attention in 2025 to build a robust cybersecurity framework,” Collard concluded. “While awareness of cyber threats is increasing, more efforts are needed to translate this concern into better security practices across Africa.”