ASSESSING CYBERSECURITY THREATS AND VULNERABILITIES IN ADDIS ABABA’S ZEMEN SPORT BETTING FINANCIAL SECTOR

Abstract

In recent years, the sport betting industry in Addis Ababa particularly the Zemen Sport Betting platform has witnessed significant expansion, driven by technological advancements, increased smartphone penetration, and widespread internet access. As a result, more individuals are engaging with online betting services, leading to a notable rise in digital financial transactions. While this trend contributes to economic growth and the digitalization of the local entertainment and financial sectors, it simultaneously exposes stakeholder’s operators, users, and financial intermediaries to a range of cybersecurity threats and vulnerabilities. This research seeks to critically assess the cybersecurity posture of Zemen Sport Betting’s financial systems, focusing on the detection, evaluation, and analysis of threats that could compromise data integrity, user privacy, and transaction security. The study aims to identify key vulnerabilities within their digital infrastructure, such as inadequate encryption mechanisms, poor user authentication protocols, and susceptibility to phishing attacks, data breaches, malware intrusions, and weak regulatory compliance. Particular attention will be paid to the financial transaction process, from user registration and digital wallets to payment gateways and backend data storage systems. Using a qualitative research methodology, this study will employ semi-structured interviews with cybersecurity experts, system administrators, and financial service providers; conduct surveys with end users to assess their awareness of online threats; and perform document analysis of policy frameworks, system architecture, and security audits (where accessible). This triangulated approach will ensure a comprehensive understanding of both technical and human-related vulnerabilities. The expected outcome of this research is to map the cybersecurity threat landscape facing the Zemen Sport Betting financial infrastructure and to develop actionable recommendations aimed at mitigating these risks. Recommendations will likely include the adoption of stronger access control measures, implementation of multi-factor authentication, improvement of network monitoring tools, regular penetration testing, staff cybersecurity training, and adherence to national and international data protection standards. Ultimately, the findings of this research are intended to contribute toward bolstering cybersecurity resilience within the Ethiopian betting industry and to support the development of a safer, more trustworthy digital financial ecosystem. As Ethiopia continues to digitize its economy, ensuring the protection of online financial transactions especially within rapidly growing sectors like sport betting will be critical in sustaining public trust, protecting consumer assets, and promoting responsible digital innovation.