US cybersecurity company invests in SA – but who will benefit?

American cybersecurity company, Palo Alto, was on Thursday at the Kyalami Grand Prix Circuit to pitch the importance of securing South Africa’s networks that are vulnerable to hackers. The regional lead of Palo Alto in South Africa, Justin Lee said the company aims to connect the country to the rest of the world. With talks of collaboration with the government and local businesses, the organisation also claims to be eager to create jobs.

This, despite reports in Israel, where dozens of employees at the affiliated company CyberArk were fired after Palo Alto acquired it for $25 billion. Helmut Reisinger, CEO of the Europe, Middle East and Africa (EMEA) marketing division,has said that South Africa is “very young”, compared to Europe and can therefore benefit from the opportunity of investment. When asked about the layoffs in Israel, Reisinger said it was just a “dozen” layoffs, implying that it’s simply business.

“So first of all, we’re talking about dozens and not hundreds or whatever… “And it’s very natural that when a company, which we were before, of 16 000 people, is acquiring a company of 4 000 people that in certain departments there will be overlap. “It’s our approach to be transparent to our teams as well. “Not to say, let’s celebrate, we are all together now, and after three weeks there comes the bad news that a small group is impacted by it,” said Reisinger.

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This response may not be appreciated in South Africa, where the reality of unemployment is stark. The company punted its cybersecurity services to the public and private sector, without disclosing how accessible they are for those who fall victim to the major AI skills gap. Youth unemployment is already a huge issue in South Africa, along with theAI skills gapin communities. This investment in South Africa can lead to growth, but it will depend on the capacity and whether geopolitical agendas will interfere with the business’s claimed goals.

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