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The costs of cyberattacks: How one breach can sink a business

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7 months ago

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cyberattacks

Entire operations may be disrupted for days or even weeks, resulting in lost revenue, diminished service quality and disappointed clients and partners

JOHANNESBURG, South Africa, September 18, 2024/APO Group/ — 

In today’s interconnected world, cyberattacks are more frequent and more dangerous than ever before. Businesses, regardless of size or industry, are prime targets for cybercriminals. These attacks can cause widespread damage and create long-lasting consequences. Kaspersky (www.Kaspersky.co.za) dives into the impact of cyberattacks on business and reveals the key losses that an unprotected business can suffer.

When we consider the impact of cyberattacks on business, the first thing we pay attention to is financial losses. An example of an incident with huge financial losses is the attack on Johnson Controls, a major player in the building technology sector that faced a significant ransomware incident (https://apo-opa.co/3XnrMJm) perpetrated by the Dark Angels hacking group. The attackers claimed to have stolen 27 terabytes of sensitive data and demanded a $51 million ransom. This breach resulted in severe disruptions to the company’s systems and cost over $27 million in damages. The attack impacted Johnson Controls’ business operations, including disruptions to its billing systems and increased recovery expenses. As a company with a global presence, the breach significantly affected its business relationships and operations. 

Below, Kaspersky explores several key ways a cyberattack can hurt your business.

Financial losses
Cyberattacks often result in direct financial losses. Ransomware attacks, where hackers demand payment to restore access to data or directly steal funds, are a clear example. But this is only the beginning, as there are numerous other consequences that may result in considerable indirect financial losses. These can easily exceed what the company has lost as an immediate outcome of the incident.

Operational disruption
Cyberattacks can grind your operations to a halt. Many businesses depend on their digital infrastructure for daily activities. If systems are compromised, productivity falls. In severe cases, entire operations may be disrupted for days or even weeks (https://apo-opa.co/3MQRkKo), resulting in lost revenue, diminished service quality and disappointed clients and partners — an additional impact on your company’s reputation. 

Indirect long-term costs
Even following the immediate aftermath of a cyberattack, businesses often face long-term financial impacts. Restoring systems, improving cybersecurity infrastructure, and managing the legal fallout are just some of the lingering costs. Additionally, lost business and damaged customer relationships can take months or years to rebuild.

At Kaspersky, we’re deeply committed to delivering the agile security that businesses need

Reputational damage
The trust your clients place in you is invaluable. If customer data is stolen in a breach, it can severely damage your brand’s reputation. This loss of trust can lead to customers leaving and a long-term decline in business. In some cases, a single breach is enough to ruin a company’s public image beyond repair.

If your business falls victim to an attack, it can also impact your relationships with partners and vendors. Third-party partners might lose confidence in your ability to protect shared data. Similarly, business-critical relationships could be jeopardised if you fail to recover quickly or if your systems compromise their operations.

Legal and compliance issues
With data protection regulations such as the GDPR in Europe, POPIA in South Africa or HIPAA in the U.S., a data breach can lead to heavy fines. Failing to protect sensitive customer or employee data may result in penalties and lawsuits. Furthermore, companies that fall victim to breaches often face lengthy legal battles, which add to the financial and reputational strain.

Loss of intellectual property
For many businesses, intellectual property (IP) is among their most valuable assets. Cyberattacks targeting IP can steal product designs, marketing strategies, and proprietary information. This is particularly harmful in competitive industries like technology and pharmaceuticals, where IP theft can erase the advantage a company has spent years building.

“Attackers are never idle – they’re like wolves who must be constantly active to catch their prey off-guard.  So, companies need to be ever more alert and agile. They must be sure they have the right solutions and processes to allow for effective threat discovery and containment, as well as swift recovery. At Kaspersky, we’re deeply committed to delivering the agile security that businesses need. Proactive assessments and multi-layered protective solutions, plus managed security and actionable threat intelligence – we have it all. What’s more important, we have the expertise to put together the exact cybersecurity structure for your individual profile. Only a consistent and comprehensive approach, like this one, can ensure true business resilience against today’s cyber risks,” comments Oleg Gorobets, Security Evangelist at Kaspersky. 

Below, Kaspersky offers some recommendations to help your business stay ahead of cyberthreats and remain resilient: 

  • Always keep the software updated on all the devices you use to prevent attackers from infiltrating your network by exploiting vulnerabilities. Install patches for new vulnerabilities as soon as possible.
  • To protect the company against a wide range of threats, use robust solutions, like that from the Kaspersky Next (https://apo-opa.co/4gr9zDD) product line, that provide real-time protection, threat visibility, and the investigation and response capabilities of EDR and XDR for organisations of any size and industry. Kaspersky solutions are regularly awarded, leading in independent tests (https://apo-opa.co/3XyqJXl).
  • For protection of very small businesses, use solutions intended to help you manage your cybersecurity even without having an IT administrator on board. Kaspersky Small Office Security (https://apo-opa.co/4gxRLqz) provides you with hands-off security due to ‘install and forget’ protection and saves the budget, which is crucial, particularly in the early stages of business development.  
  • If your company doesn’t have a dedicated IT security function and only has generalist IT admins who may lack the specialist skills required for expert-level detection and response solutions, consider subscribing to a managed service such as Kaspersky MDR (https://apo-opa.co/3zzkfiN). This would instantly boost your security capabilities by an order of magnitude, while allowing you to focus on building in-house expertise.
  • Educate your employees to have protection against human-related cyberattacks. Specialised courses can help, such as Kaspersky Automated Security Awareness Platform (https://apo-opa.co/3XtzFgw) that instills safe Internet behaviour and includes a simulated phishing attack exercise. 
  • Set up offline backups that intruders cannot tamper with. Make sure you can quickly access them in an emergency when needed.  
  • Conduct cybersecurity audits.

Distributed by APO Group on behalf of Kaspersky.

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Namibian President Dr. Netumbo Nandi-Ndaitwah to Open Namibia International Energy Conference 2025

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3 days ago

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April 16, 2025

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Netumbo Nandi-Ndaitwah

The Namibia International Energy Conference 2025, under the patronage of the Ministry of Industries, Mines and Energy, will be officially opened by President Dr. Netumbo Nandi-Ndaitwah, marking a historic milestone in Namibia’s journey to becoming a global energy hub

WINDHOEK, Namibia, April 15, 2025/APO Group/ –The Namibia International Energy Conference (NIEC) is proud to announce that the President of the Republic of Namibia, Her Excellency Dr. Netumbo Nandi-Ndaitwah, will officially open the 2025 edition of the conference.

“We are deeply honoured that Her Excellency, the President of the Republic of Namibia, will officially open this year’s conference. Her participation marks a historic milestone for NIEC and reaffirms the government’s commitment to harnessing Namibia’s energy potential for shared prosperity. It also reflects the kind of forward-looking leadership that is essential to positioning Namibia as an emerging leader in the global energy landscape.” said Ndapwilapo Selma Shimutwikeni, Founder & CEO of RichAfrica Consultancy and Convenor of NIEC.

President Nandi-Ndaitwah is a committed advocate for ensuring that Namibia derives maximum value from its natural resources through value addition and sustainable development, with a focus on uplifting the Namibian people and strengthening local capacity.

We are deeply honoured that Her Excellency, the President of the Republic of Namibia, will officially open this year’s conference

As Namibia lays the foundations to become an energy hub, NIEC 2025 will explore the key building blocks needed to realize this vision. These include enabling investment, strengthening institutions, advancing infrastructure and environmental stewardship, promoting local content and reinforcing good governance. Energy is increasingly recognized as a catalyst for inclusive and sustainable development – unlocking industrialization, economic diversification, job creation and long-term prosperity.

Now in its 7th edition, NIEC 2025 will be held under the theme, “Leading the Way: Becoming an Energy Hub with In-Country Value,” and is scheduled to take place from 23-25 April 2025 at the Windhoek Country Club Resort, Windhoek, Namibia.

Since its inception in 2012 under the theme, “A Road to Discovery and Beyond,” the conference has evolved into a premier platform for high-level dialogue, thought leadership and strategic engagement. It has played a crucial role in shaping discourse around Namibia’s emerging oil and gas industry and its broader energy sector.

The event draws a global audience, including OPEC representatives, senior executives from international oil companies, prominent service providers, investors and industry experts. It has also welcomed numerous government leaders from across Africa, including ministers of energy, as well as Namibia’s own public and private sector leaders.

NIEC 2025 will feature a strategic program of panels, dialogues and expert-led sessions designed to unpack the conference theme and spotlight key issues and opportunities that will define the future of the energy industry. The 2025 edition is expected to welcome over 1,000 delegates from across the globe, reinforcing its position as the country’s premier energy platform.

The conference is held under the patronage of the Ministry of Industries, Mines and Energy of the Republic of Namibia and is curated and convened by RichAfrica Consultancy, with the African Energy Chamber as a strategic partner.

Distributed by APO Group on behalf of African Energy Chamber

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Ministry of Health and KAOUN International launch GITEX FUTURE HEALTH AFRICA in Morocco

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3 days ago

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April 16, 2025

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GITEX FUTURE HEALTH AFRICA

GITEX FUTURE HEALTH AFRICA/Morocco will drive unprecedented impact across Africa, leveraging breakthroughs in technology and AI to enhance quality and access to healthcare

MARRAKECH, Morocco, April 15, 2025/APO Group/ –During the third annual edition of GITEX AFRICA Morocco (www.GITEXAfrica.com), the continent’s largest tech and startup show, His Excellency Mr. Amine Tehraoui, Morocco’s Minister of Health and Social Protection announced the launch of GITEX FUTURE HEALTH AFRICA/Morocco – in partnership with KAOUN International, organiser of GITEX in Africa and globally.

The much anticipated and pivotal event for the healthcare economy was officially launched with the signing of the partnership agreement, and will be held under the authority of Morocco’s Minister of Health and Social Protection, hosted in partnership with Mohammed VI Foundation for Sciences and Health (FM6SS), and organised by KOAUN International, the organiser of GITEX in Africa and globally.

To be hosted in Casablanca from 21-23 April 2026, GITEX FUTURE HEALTH AFRICA/Morocco, featuring GITEX DIGI_HEALTH, is set to lead the transformation impetus of Morocco and Africa to combat challenges in healthcare information, delivery, access and efficiency, capitalising on the emergence of AI and digital technologies.

The event will prioritise public-private partnerships which are particularly instrumental in this digital mission to advance the industry productively and efficiently

H.E. Mr. Amine Tehraoui, Minister of Health and Social Protection, stated: “GITEX FUTURE HEALTH AFRICA/Morocco embodies the Kingdom’s unwavering commitment to health as a fundamental and universal human right, enshrined in our national vision for health system reform. As digital innovation, data intelligence, and health tech increasingly shape the future of care delivery across Africa, this platform reinforces Morocco’s position as a regional hub for collaboration, talent, and investment. Through international partnerships, strategic innovation, and shared expertise, we have a unique opportunity to co-build inclusive, resilient, and people-centered healthcare systems for the continent and beyond.”

For its part, the Mohammed VI Foundation for Sciences and Health emphasized its strategic vision: “As a major player in the fields of health, training, and scientific research, the Mohammed VI Foundation for Sciences and Health is committed, alongside the Ministry of Health and Social Protection and KAOUN International, to making Morocco a continental hub for healthtech. By contributing its medical and academic expertise through the development of digital health and medical technologies in Morocco and Africa, we aim to help shape the healthcare ecosystem of tomorrow.”

Morocco has emerged as a pioneer in digital health initiatives and advancing expeditiously towards an integrated health information system, fostering the adoption of innovative medical technologies to build a resilient healthcare infrastructure and system. The African healthcare market is estimated to be worth US$259 billion and expected to become the second biggest market after the US by 2030.

Trixie LohMirmand, CEO of KAOUN International, organiser of GITEX globally, commented: “There is urgency from governments and healthcare institutions worldwide – and especially in Africa – to modernise and digitise their healthcare services to increase reach, reduce healthcare costs and deliver better patient outcomes. GITEX FUTURE HEALTH AFRICA/Morocco will highlight the role and growing influence of AI and new digital solutions to improve data-driven decision making and reduce health inequities. The event will prioritise public-private partnerships which are particularly instrumental in this digital mission to advance the industry productively and efficiently.”

The three-day event will open with an agenda shaping leadership summit tackling powerful themes – accelerating cutting-edge solutions set to transform access, outcomes and health equity. Targeting decision-making executives from hospitals and healthcare institutions, health ministers and government leaders, CIOs, CTOs, innovators and disruptors, and public health policymakers – topics during the summit will explore health infrastructure, expanded access to healthcare, investment and research, data security and national records integration, health and data analytics, and AI-powered diagnostics.

An exhibition will bring together top researchers, practitioners, innovators, and experts from the global healthcare industry – representing Africa’s most important gathering of medical & lab equipment, imaging & diagnostics, IT systems & solutions, healthcare infrastructure, healthcare transformation, smart hospitals, healthcare management, and digital health management systems in Africa.

Distributed by APO Group on behalf of GITEX Africa

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Critical Minerals Africa Group (CMAG) Appoints APO Group Founder, Nicolas Pompigne-Mognard, to Advisory Board

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3 days ago

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April 16, 2025

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Critical Minerals

CMAG gives Africa and the companies operating within the African critical minerals ecosystem a voice in discussions about supply chains and shaping policy

JOHANNESBURG, South Africa, April 15, 2025/APO Group/ –APO Group (www.APO-opa.com), the award-winning pan-African communications consultancy and leading press release distribution service, is pleased to announce that its Founder and Chairman, Nicolas Pompigne-Mognard (www.Pompigne-Mognard.com), has been appointed to the newly formed Advisory Board of the Critical Minerals Africa Group (CMAG).

With its mission being to position Africa as a leader in critical minerals, CMAG (www.CMAGAfrica.com) is dedicated to advancing responsible sourcing and sustainable development of Africa’s critical mineral resources, while ensuring that local economies benefit from the continent’s mineral wealth. With approximately 40% of the world’s essential minerals reserves estimated to be held in Sub-Saharan Africa alone, the region plays a key role in the global energy transition and advanced technologies.

Pompigne-Mognard’s appointment to the Advisory Board follows the announcement of a strategic partnership between APO Group and CMAG aimed at raising the global prominence of Africa’s critical minerals sector. The partnership leverages APO Group’s public relations and strategic communications expertise and CMAG’s industry leadership. Complementing this, Pompigne-Mognard’s ability to connect clients with key stakeholders from governments, private companies, and organisations of all sizes will be invaluable in showcasing Africa’s role in the global essential resources supply chain and elevating the profile of Africa’s critical minerals sector.

In my advisory role, I look forward to supporting all initiatives as CMAG showcases Africa’s critical minerals potential in a responsible and sustainable manner

Nicolas Pompigne-Mognard brings a wealth of experience and expertise to the CMAG Advisory Board. His vast network across industries, governments, and institutions, his deep understanding of Africa’s media and technology landscapes, and his extensive business experience will equip him to work alongside fellow Advisory Board members to shape positive perceptions of Africa’s critical minerals sector amongst global stakeholders and audiences.

A Franco-Gabonese entrepreneur named among the 100 Most Influential Africans in 2023 and 2024, Nicolas Pompigne-Mognard serves on multiple high-profile advisory boards and international committees. These include the Senior Advisory Board of the Canada-Africa Chamber of Business and the Leadership Council of the Africa Tech Festival, as well as the Advisory Boards of the African Energy Chamber, World Football Summit, Africa Hotel Investment Forum (AHIF), Bloomberg New Economy Gateway Africa, Sports Africa Investment Summit, EurAfrican Forum, and All Africa Music Awards (AFRIMA). He is also a strategic advisor to the Chief Executive Officer of the Royal African Society of the United Kingdom, a strategic advisor to the EU-Africa Chamber of Commerce, and a special advisor to the President of Rugby Africa, the governing body of rugby in Africa.

Nicolas’ wholly-owned company, APO Group, is the premier award-winning Pan-African communications consultancy and press release distribution service. It serves more than 300 clients, including global giants such as Canon, Nestlé, Western Union, UNDP, Network International, the African Energy Chamber, Mercy Ships, Marriott, Africa’s Business Heroes, and Liquid Intelligent Technologies.

“Being appointed to the Critical Minerals Africa Group Advisory Board is an immense honour. CMAG is vital in safeguarding Africa’s critical minerals for future generations. In my advisory role, I look forward to supporting all initiatives as CMAG showcases Africa’s critical minerals potential in a responsible and sustainable manner,” said Nicolas Pompigne-Mognard, Founder and Chairman of APO Group.

Other members of the Advisory Board include Natznet Tesfay, Executive Director, Head of Insights and Analytics, S&P Global, and Richard Morgan, Former Head of Government Relations, Anglo-American PLC.

Distributed by APO Group on behalf of APO Group

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