The rapid digitalization of developing economies has expanded opportunities for innovation, financial inclusion, and enterprise growth, but it has also introduced significant cybersecurity risks. This study examines the cybersecurity readiness of small and medium-sized enterprises (SMEs) in Africa, with a focus on Nigeria, Kenya, and South Africa. Using a qualitative multi-case analysis supplemented by policy reports, secondary data, and cybersecurity indices, the study identifies key risks, phishing, ransomware, insider threats, and cloud vulnerabilities and evaluates enterprise practices against global standards such as the NIST Cybersecurity Framework (CSF) and ISO/IEC 27001. Findings indicate that most SMEs adopt ad-hoc tools, provide limited staff training, and lack formal incident response mechanisms, resulting in readiness levels far below international benchmarks. Comparative insights from India’s Unified Payments Interface (UPI) and Brazil’s PIX highlight the importance of institutional coordination and embedded regulatory oversight in enhancing resilience. The study contributes to Information Systems (IS) risk management and Resource-Based View (RBV) theory by framing cybersecurity readiness as a strategic capability that can enable competitive advantage. Policy implications emphasize digital literacy, workforce development, and regulatory harmonization, while practical recommendations encourage SMEs to integrate cybersecurity into business strategy as an enabler rather than a cost.
Osita Victor Egwuatu (Sat,) studied this question.