Cybersecurity key to nation’s investment drive – GIPC

The nation’s ambition to become Africa’s most trusted investment hub will depend as much on cybersecurity as on infrastructure or policy reforms.

Across the continent, the Interpol Africa Cyberthreat Assessment Report estimates that more than USD3 billion has been lost to cyber incidents between 2019 and 2025, with the finance, healthcare, energy and government sectors hardest hit.

In August 2025, Interpol and African investigators recovered nearly USD100 million from suspected fraudsters. While significant, this figure is only a fraction of the wider losses, highlighting the urgent need for stronger investment in cyber-resilience.

Ghana’s Progress and Recognition

At the launch of the 2025 National Cyber Security Awareness Month, Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Simon Madjie, reminded stakeholders that every cyberattack is not just a technical glitch but a direct threat to capital, markets and long-term investor confidence.

Held in Accra under the theme ‘Building a Safe, Informed and Accountable Digital Space,’ the event underscored how rising cyber-attacks disrupt markets, weaken livelihoods and endanger jobs.

Citing the World Bank’s Review of the Economic Cost of Cyber Incidents, Mr Madjie warned that the global cost of cybercrime could reach USD10.5 trillion annually by 2025, nearly 10 per cent of global GDP.

“A single cyber-attack does not only damage systems. It shakes investor confidence, disrupts businesses and affects families who depend on digital trade for survival,” he said.

Despite global challenges, the nation has registered notable achievements. In the 2024 Global Cyber Security Index published by the International Telecommunication Union, Ghana scored 99.27 per cent, earning Tier 1 status.

This places the nation among only 46 globally, and five in Africa, recognised as role models in cybersecurity development.

For the GIPC, this milestone provides a strong foundation. But as Mr Madjie stressed, complacency is not an option.

“We must view cybersecurity not as a cost but a strategic investment that protects our digital assets, unlocks opportunities and positions Ghana as a trusted digital hub in Africa,” he emphasised.

Mr Madjie called for stronger partnerships among civil society, industry and government, reaffirming GIPC’s commitment to work with the Cyber Security Authority (CSA) and other stakeholders to build a secure, trusted digital ecosystem.

Protecting Investor Data

As the government agency responsible for facilitating investment, GIPC has made the protection of investor data a priority.

Guided by the Data Protection Act, 2012 (Act 843), the Centre has strengthened its systems and adopted international best practices to safeguard sensitive information.

The Data Protection Commission (DPC) provides channels for reporting breaches, and regular anti-scam advisories further protect investors.

GIPC applies a layered framework built on secure databases, restricted access and continuous staff training. In July 2025, Mr Madjie met with DPC Executive Director Dr Arnold Kavaarpuo to reinforce compliance with Act 843.

Cybersecurity and the 24-Hour Economy

The focus on cybersecurity also resonates with President John Dramani Mahama’s vision of a 24-Hour Economy. For businesses to operate seamlessly around the clock, digital platforms must be secure and reliable.

Without strong cyber protection, financial systems, logistics chains and e-commerce platforms would remain vulnerable to disruption.

Investment in cyber-flexibility therefore becomes a foundation of the 24-Hour Economy, guaranteeing service continuity, protecting digital trade and ensuring that businesses, local and international, can operate confidently at all times.

Leadership and Warnings

October, marked globally as Cybersecurity Awareness Month, saw the Acting Director-General of the CSA, Divine Agbeti, pledge continued efforts to treat cybercrime as a national security threat.

Similarly, COP Lydia Yaako Donkor, Director-General of the Criminal Investigations Department, described cybercrime as “essential for our survival as a modern nation,” revealing the deployment of AI-powered platforms to track online criminal networks.

The launch of the Amber Alert Ghana system with Meta to protect missing children further demonstrates proactive measures.

The Minister for Communication, Digital Technology and Innovations, Sam Nartey George, warned cybercriminals that government would not allow scammers to derail national progress or tarnish the nation’s reputation.

“Every attack is not just theft of data but theft of jobs, opportunities and trust,” he added.