- The recent survey by ‘The Allianz Risk Barometer 2022’ ranks the Pandemic as the third biggest challenge below cyber security causing business interruptions.
- The Kenyan businesses are more concerned about disruptions due to increased cyber-attacks than the Covid-19 pandemic, the survey has reported.
The recent survey by ‘The Allianz Risk Barometer 2022’ ranks the Pandemic as the third biggest challenge below cyber security causing business interruptions. The Kenyan businesses are more concerned about disruptions due to increased cyber-attacks than the Covid-19 pandemic, the survey has reported.
The survey pointed out that the frequent business interruptions through cyber incidents, reflect the rise in ransomware attacks and also the impact of companies’ growing reliance on digitalization and the shift to remote working. Awareness of business interruption rose sharply in the pandemic period due to increased cyber-crimes. The survey cautioned that it may continue to be the key underlying risk in 2022. The survey noted that in 2021, the main reasons for business disruptions were cyber-attacks, supply chain issues, as well as pandemic-related manufacturing problems and transport bottlenecks.
Kenyan business is also worried about the possible political risks and violence and changes in legislation and regulation after the c general election scheduled on August 9th 2022. According to Human Rights Watch, political risks and violence have emerged as new risks owing to well known and documented police brutality in the country. Changes in legislation and regulation moved up from ninth rank to fourth in the country.
