Government of Ghana to establish a Cyber Security Fund

Cyber Security is a necessity for every country since it helps in the country’s development. Hence, it’s a piece of good news the President of the country H.E Nana Addo Dankwa Akuffo Addo has made it known to the public his plans for the inauguration of a Cyber Security fund.

Both Public and Private Organisations in various sectors around the globe can state that Cyber Attacks are one of the high impact risks they face hence, this will be an interest for Small and Medium Scale Enterprises (SMEs), since the fund will be made to cover research and development, capacity building for public officials and support for businesses.

A speech read on behalf of the President by Ambose Dery, the Interior Minister stated, ‘’ In order to move from the formative stage to the established stage, of the cyber security maturity scale, it is imperative to have a well thought out strategy for the allocation of resources to support cybersecurity development. It is for this reason that the government has decided to establish a Cyber Security Fund to help the development of the country’s cyber security ecosystem.

Not forgetting a statement released by the Ghana Police Service Cyber Crime Unit, made us understand how cyber crime has cost the country roughly the sum of $230 million from 2016 to August 2018. A loss in 2016 was over $35 million and rose to around $69 million in 2017. That is almost a double-figure from 2016 in which the banking sectors were the most victims which is a huge loss for the country’s economy hence, it’s a good thing the president has made such move which it is believed can lessen cyber fraud effect in the country.

The President has also stated the plans the government has made to add Cyber Security Education into our various Basic and Senior High schools curriculum which it is believed will help build and enlighten the minds of our young ones on cyber fraud and to fight against them.

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