• 62% of African audit leaders rank cyber incidents as the main business risk
• Cybercrime cost Africa about $10 billion in 2023, amid rising AI-driven threats
• Digital disruption shows the sharpest increase among perceived risks

Cyberattacks, including data breaches, malware, and ransomware, are the most feared risks for African companies in 2026, according to a report published in late 2025 by the Internal Audit Foundation, a nonprofit organization affiliated with The Institute of Internal Auditors and focused on advancing the internal audit profession worldwide. Titled Africa Risk in Focus 2026, the report is the Africa edition of the global Risk in Focus survey, which covers 131 countries.

The survey was conducted among more than 1,000 chief audit executives in 39 countries, in collaboration with the African Federation of Institutes of Internal Auditors. Among African respondents, 62% said cyber incidents represent the main risk facing businesses operating on the continent, across all company sizes and sectors. A further 60% identified cyber risks as the top priority for their internal audit functions.

Risk perception varies significantly across Africa’s subregions. It is higher in East Africa, where 65% of respondents cited cyber risks as a major concern, as well as in Southern Africa and North Africa, both at 64%. By contrast, concern is lower in Central Africa at 32% and in West Africa at 53%. Despite these differences, cybercrime affects all regions, against a backdrop of rapid growth in artificial intelligence and mobile financial technologies.

In 2023, cyberattacks caused estimated losses of about $10 billion across Africa, according to cybersecurity consulting firm Serianu. The use of AI-based tools is making attacks more sophisticated and harder to detect, while awareness of cybercrime threats remains limited in some countries, due to modest literacy levels and gaps in cybersecurity and data protection regulations.

Digital disruption emerges as a growing risk

Business resilience risk, which reflects vulnerability to crises, ranks second among the most feared threats for companies operating in Africa. It was cited by 49% of surveyed audit executives, ahead of digital disruption at 44%, financial and liquidity risk at 43%, fraud at 43%, human capital risk at 35%, and regulatory change at 34%.

While cybersecurity remains the leading risk, digital disruption recorded the sharpest increase compared with the previous year. It is now cited by 44% of African respondents, up from 10% in the prior edition of the survey. This shift moved digital disruption from sixth to third place among key business risks, reflecting the rapid pace of technological change. As a result, two of the three most significant risks identified for African businesses in 2026 are technology-related.

The report also notes that financial and liquidity risk is more pronounced in Africa, at 43%, than the global average of 31%. This reflects the dependence of many African economies on stable inflows of foreign investment and external financing. In addition, foreign exchange volatility remains a major challenge for several countries whose currencies rank among the weakest globally.

Walid Kéfi