Page 52 - SAMENA Trends - December 2023
P. 52

REGIONAL & MEMBERS UPDATES  SAMENA TRENDS

        Organizations in UAE and Saudi Arabia Lose $2.3m a Year to Cloud Breaches


        Inadequate  cloud  security  practices  are  leaving  organizations   of connectivity with third-party software. This lack of visibility is
        in  the  UAE and  KSA susceptible  to data  breaches,  according   impacting  organizations’  ability  to  respond  to  attacks,  with  97%
        to new  research from Illumio.  The  Illumio  Cloud Security Index   saying they need to improve their reaction time to cloud breaches.
        found that  54%  of breaches  in  the  UAE  and  KSA now originate   98% are also concerned that the connectivity between their cloud
        in  the  cloud,  costing  organizations  $2.3m  USD  annually. This  is   services and on-prem environments increases the likelihood of a
        particularly  concerning  given  that:  Over  three  quarters  (76%)  of   breach. Respondents are also concerned about the consequences
        respondents are running high-value applications in the cloud. 100%   of attacks via the cloud. Service downtime is deemed to be the
        of respondents admit to storing sensitive data in the cloud.98%   biggest risk in the UA (38%, a lot higher than the global average of
        say  a  cloud breach  would impact  their  operations,  with  nearly   29%), demonstrating the criticality of the cloud for business. This
        half  (46%)  admitting  a  cloud  breach  would  make  maintaining   was followed by a loss of productivity (35%), and lawsuits (33%,
        normal  operations  impossible.  70%  of  respondents  believe  that   a  lot  higher  than  the  global  average  of  21%).  It  is,  therefore,  no
        cloud security in their own company is inadequate and represents   surprise that improving cloud security is a high priority for 89% of
        a major risk (higher than the global average (63%). Fears about   respondents in the coming year. Zero Trust Segmentation (ZTS) is
        inadequate security practices are likely down to an inability to see   believed to be the solution with 89% believing it has the potential to
        and respond to risks in the cloud; 97% say they need better visibility   significantly improve their own cloud security, yet only 33% use ZTS
                                                               across both on-prem and in cloud environments, a lot lower than
                                                               the global average (48 percent). Ashraf Daqqa, Regional Director
                                                               for META at Illumio, said: “We’re seeing rapid adoption of the cloud
                                                               in the UAE and KSA, but as cloud adoption increases, so do the
                                                               risks.” “As the attack surface becomes larger and more complex,
                                                               it’s  critical  that  organizations  have  real-time  visibility  over  their
                                                               applications and workloads, as well as the ability to rapidly contain
                                                               threats in the cloud. By introducing ZTS as a part of a proactive
                                                               Zero  Trust  security  strategy,  organizations  can  significantly
                                                               improve their cyber resilience and reduce the cost and impact of
                                                               cloud breaches.”




        Zain, Ooredoo and TASC Restructure to Form $2.2 Billion Regional Towerco


        The  new  company  is  expected  to  achieve  a  run-rate  revenue  of
        $500  million  annually  Zain  Group, Ooredoo and  TASC  Towers
        Holding  have  announced  the  signing  of  a  definitive  agreement
        to combine  all  their  tower  assets  to create  a huge $2.2  billion
        dollar entity.  The three firms, based in Kuwait, Qatar, and Dubai,
        respectively, entered  into talks  in  July  regarding  the  deal,  which
        combines their collective 30,000 towers in Qatar, Kuwait, Algeria,
        Tunisia,  Iraq, and  Jordan,  creating  the  Middle  East  and  North
        Africa’s largest tower company.  The newly created entity will be
        worth approximately $2.2 billion, with Ooredoo and Zain to each
        own  a  49.3%  stake  in  the  newly  restructured  entity  through  a
        process of an asset and cash equalization. The founders of TASC,
        which is the largest independent towerco in the MENA region, will
        take  the  remaining  shares,  through  Digital  Infrastructure  Assets
        LLP, and will continue to manage business operations.   Ooredoo
        and Zain will both keep their respective active infrastructure.  The
        new  company, which  has  not  yet  been  named,  is  expected  to
        achieve a run-rate revenue of $500 million annually.  “(This deal)   reduction of the region’s carbon footprint, contributing to our vision
        also  positions  the  region  as  an advanced player in  the  global   of reshaping  the  telecommunications  sector by building  a  more
        telecoms  landscape,  and  we  anticipate  wide-ranging  positive   sustainable ecosystem and ensuring a better-connected future for
        implications for the region – from economic growth and upgraded   our communities across the region,” the CEOs concluded.  The deal
        connectivity to technological improvements and increased global   is expected to close sometime next year, with the implementation
        relevance,” said the three companies in a joint statement.  “The   in  each market  phased  to adhere  to each country’s  regulatory
        deal  also  demonstrates  our joint  dedication  to  supporting  the   framework.

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