Page 52 - SAMENA Trends - December 2023

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.

52 DECEMBER 2023