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Tawanda Musarurwa Senior Business Reporter
Japan is set to extend grant aid of $3,6 million (390 million yen) to Zimbabwe for the provision of cyber security equipment. The equipment will be used by the Zimbabwe Republic Police in conjunction with INTERPOL and the Southern Africa Regional Police Chiefs Co-operation Organisation (SARPCCO) to combat cybercrime and transnational crimes in the region. The exchange of notes to this effect were signed yesterday by Finance Minister and Economic Development  Mthuli Ncube and the Ambassador of Japan to Zimbabwe, Mr Toshiyuki Iwado.

Minister Ncube said the latest development marked the continued enhancements of ties between the two countries.

“We are further deepening co-operation between the two governments of Japan and Zimbabwe, through the signing of the Exchange of Notes for the procurement of cybersecurity equipment. The project we are signing today adds to the list of projects funded by the government of Japan and will effectively contribute to the implementation of our national priorities and development thrust as enunciated in the Transitional Stabilisation Programme (TSP),” said the minister.

“Technology is a key enabler for global economic growth and development as it assists in improving access to information, knowledge and learning; enhancing connectivity, communication, and information sharing; facilitates smart banking, bills, and shopping; and is a source of entertainment.

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“Regrettably, on the other hand, there are individuals who have abused its existence, committing crimes and cats of terrorism using technology. In this regard, it is pertinent for our Government to safeguard the public against such crime and prosecution for the perpetrators.”

According to “Economic Impact of Cybercrime — No Slowing Down”, a study carried out by The Centre for Strategic and International Studies (CSIS), in partnership with McAfee, close to $600 billion, nearly 1 percent of global gross domestic product (GDP), is lost to cybercrime each year, which is up from a 2014 study that put global losses at about $445 billion.

The report attributes the growth over three years to cybercriminals quickly adopting new technologies and the ease of cybercrime growing as actors leverage black markets and digital currencies.

Speaking at the same event, Ambassador Iwado said the new cybersecurity equipment will enhance law enforcers’ work in fighting the vice.

“The new equipment will also allow investigations of crimes committed through the use of electronic devices, detection of criminals entering into the country, and increased collaboration between the police forces of the region,” he said.

“An important component of this project will be capacity building of the regional police departments tasked with investigating cybercrime and transnational crime.

“It is expected that it will lead to a significant reduction in cybercrime and transnational crime cases in the region, ensuring greater security for citizens and visitors when making purchases by electronic means,” he said.