Ransomware Attacks and Infrastructure Blackouts Top Global Business Risks

Such as ransomware attacks, data breaches, and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. Critical infrastructure blackouts have emerged as the number one risk for businesses in South Africa for the second consecutive year highlighting the severe impact of power outages and the failure of essential infrastructure such as ports, railways, roads, and more on the economy and businesses.

The closely interlinked peril of energy crisis has climbed to the fifth position, up from sixth place in 2023. Cyber incidents and business interruption continue to hold the second and third spots, respectively. South Africa's business community must remain vigilant in the face of critical infrastructure blackouts

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