Anna Collard, SVP, content strategy and evangelist at KnowBe4 AFRICA.

More than half of Africans are more concerned about cybercrime than they were two years ago, raising fears about potential financial losses due to cyber threats.

This is according to KnowBe4 AFRICA, which conducted a poll in seven African countries: Morocco, South Africa, Nigeria, Ghana, Egypt, Kenya, and Botswana.

According to KnowBe4 AFRICA, Africa's cybersecurity ecosystem is fast evolving and poses substantial challenges as well as opportunities. However, Africa has seen a significant growth in cybercrime, with ransomware, digital extortion, and online frauds being the most common methods used by cybercriminals.

The continent is increasingly concerned about cybercrime due to the rise in mobile banking acceptance, the use of WhatsApp for business purposes, and the fading of privacy concerns: Africans freely share personal information.

The survey found that 58% of people are concerned about cybercrime, up from 29% in 2023. Concerns about financial losses due to cybercrime remain frequent, owing to the rise of artificial intelligence (AI)-assisted cyber threats.

Furthermore, the increase in smartphone use in Africa has boosted the use of mobile financial services, with mobile data usage rising from 71% in 2023 to 75% in 2025.

According to the South African Banking Risk Information Centre, the country will lose $3 billion to digital banking and mobile app crime in 2023, with criminals utilising AI-generated content to impersonate officials and executives, as social engineering attacks get more sophisticated.

“The rise in mobile banking and payments indicates greater financial inclusion through digital means, which is generally positive for economic development in Africa,” says Anna Collard, SVP, content strategy and evangelist at KnowBe4 AFRICA.

According to Collard, the increase in mobile banking and payments has increased the attack surface, emphasising the significance of mobile-centric security education.

Other issues include a lack of information about what defines a strong password and multi-factor authentication.

“Despite increased concern about cybercrime among the survey’s respondents, there are still gaps in knowledge and practice that need to be address to improve overall cybersecurity posture across the continent,” adds Collard.