South African firms magnets for online fraudsters
With the South African economy hopelessly heading towards a recession, companies and their clients are increasingly becoming at risk of being targeted by cash-desperate cybercrime syndicates hell-bent on hitting big scores without being detected.
Africa’s most financially sophisticated economy is a magnet for internet criminals, with South African companies reporting a 23% surge in cybercrime incidents since 2014, according to PwC’s biennial Global Economic Crime Survey released last month.
Former MTN executive to launch project that may create 500 000 jobs
A former executive of MTN is to launch a new telecommunications system that will enable 500 000 township entrepreneurs in South Africa to sell prepaid airtime from their cellphones by transferring it straight to end users, following on the success of the pilot project in Ghana.
Chris Kilowan, former MTN director and now chief executive of pan-African technology firm Amoss Holdings, is planning to roll out the prepaid distribution system, first in Gauteng before extending it to the rest of the country and much later throughout the sub-Saharan region.