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Browsing: Allianz Risk Barometer 2023
- Allianz Risk Barometer 2023: changes in legislation and cyber security top threats in Kenya as climate and market development risks rise.
- Cyber incidents, such as IT outages, ransomware attacks or data breaches, ranks as the most important risk in Kenya. It is the risk that small companies ($250mn annual revenue) are most worried about.
- The frequency of ransomware attacks remains elevated in 2023, while the average cost of a data breach is at an all-time high at $4.35mn and expected to surpass $5mn in 2023.
Change in legislation, cyber incidents and climate change are the top three threats to Kenyan Businesses according to Allainz Risk Barometer 2023.
According to the data Kenyan business ranked the three as the major risks in 2023, with market developments coming in fourth place.
“In Kenya, the top three risks are Changes in legislation and regulation (#1 from #4). Cyber incidents is second from …