Entrepreneurs urged to make cybersecurity central to business sustainability

The Chief Information Security Officer (CISO) of Stanbic Bank Ghana, Solomon Manteaw, spoke about cybersecurity. He urged entrepreneurs to make it a priority for business sustainability in the digital age.

Mr. Manteaw addressed participants at a Stanbic-MTN Digital Skills Training session in Accra. His topic was “Cybersecurity for Business Sustainability.” He emphasized that cybersecurity is now essential for business survival.

“Cybersecurity is not just an IT problem,” he said. “It is critical for every business operating online.” Many SMEs only respond after a breach occurs. By then, the damage can harm their credibility and growth.

He explained that data protection and digital trust are now customer expectations. When customers engage with businesses, they expect their data to be safe. Today, security is a minimum service expectation, not a bonus.

Mr. Manteaw stressed that entrepreneurs should view cybersecurity as a business risk. Delegating cyber risk solely to IT departments creates gaps in risk management.

“Cyber risk can undermine your entire operation,” he warned. Entrepreneurs must integrate it into their overall strategy like financial or operational risks. Thinking of cybersecurity as just a tech issue is no longer acceptable.

He noted that startups and SMEs face increased vulnerability due to digitization. Unmanaged cyber threats could lead to total business collapse. If customer data is compromised, brands suffer and trust erodes.

During a panel discussion on “Tech-Driven Business Expansion,” Edem Ahlonko Akoussanh from Stanbic Bank highlighted compliance with data protection laws. He advised participants to vet third-party technology providers before using them.

“As digital entrepreneurs, you hold your customers’ data,” he said. It’s crucial to operate within Ghana's legal framework. Data breaches can lead to penalties and loss of public trust.

Akorfa Takli, Head of Learning at Stanbic Bank Ghana, encouraged young entrepreneurs to apply what they learned during the session.

“Today has been about transformation,” she stated. She urged them not to let this knowledge end here but to implement it in their businesses.

She also emphasized continuous learning and adaptability in today’s economy. The ability to grow with changes will define entrepreneurial success.

The Stanbic-MTN Digital Skills Training gathered over 80 young entrepreneurs for practical learning on digital transformation and cybersecurity. This initiative aims to build a digitally empowered entrepreneurial ecosystem in Ghana.