In 2026, cybersecurity has emerged as the foremost concern for African businesses, with 62 of Chief Audit Executives CAEs in the region identifying it as their top risk. This finding comes from the 2026 Risk in Focus report, published by the Internal Audit Foundation in partnership with the African Federation of Internal Auditors AFIIA. The report underscores how rapid digitalization across the continent presents enormous opportunities, yet simultaneously increases vulnerability to cyber threats.
Cybersecurity is now the number one risk for African organizations, with around 60 of internal audit functions prioritizing it as their main focus. This shift reflects the growing awareness of the threats posed by sophisticated cyberattacks, which continue to evolve in both scale and complexity. Risks related to digital disruption, particularly the use of Artificial Intelligence AI, have also seen a marked increase. These risks jumped from sixth to third place in this year's risk rankings, demonstrating that while technological advancements bring innovation, they also create new vulnerabilities that organizations must address proactively.
One of the most alarming trends highlighted in the report is the rise of AI-enhanced cyberattacks. Hackers are increasingly leveraging AI to develop more effective attacks, such as AI-powered identity impersonation schemes, which are harder to detect and prevent with traditional security measures. The financial impact of these threats is significant. In 2023 alone, cybercrime cost the African continent an estimated 10 billion USD, affecting businesses, governments, and consumers alike.
