Cybercrime remains one of the main challenges in addition to changes in legislation and regulation, which ranks as the number one risk for businesses in Namibia.

The risks were identified by company respondents interviewed for the 2023 Allianz Risk Barometer.

Cybercrime incidents such as IT outages, ransomware attacks, and data breaches rank at number four in Namibia and also rank as the most important risk globally for the second year running.

It also ranks as one of the top three risks in Kenya, South Africa, Morocco, France, and the UK.