Addis Ababa — Ethiopia's emergence as one of the continent's most vibrant markets is attracting a host of firms in the services industry.

Cyber Security Africa Alliance Manager, the one-day event will bring together business players from both public and private sectors, including government officials, international organisations and local business leaders. It takes place on August 2 at the Sheraton Hotel.

"Africa's second most populous nation is emerging as an important investment destination. Almost non-existent before 2006, activity has picked up in recent months on the back of government efforts to open the country's economy," Kioko said last week.

Ethiopia has the fastest growing non-energy-based economy in Africa, growing at an average annual rate of 11% GDP in recent years.

The IMF projects Ethiopia as the third fastest growing economy in the world from 2011 through 2015, trailing only China and India.

Optimists say with continued market reforms, global integration, and pro-business policies, Ethiopia is positioned for many more years of rapid growth.

The theme of the conference is 'Harnessing Africa's Digital Future'.

The Ethiopian Banking & ICT Summit 2013, will highlight technical and business opportunities in the country's growing ICT sector.

Cyber Security Africa is a UK-based IT security solutions provider with offices in Kenya.

At the conference will be expert speakers from local, regional and international markets. Cyber Security Africa's mission is to build a community of Information Security for Africa. The nature and scope of the Information Security field has evolved over the past several years.

Against a background of frequent references worldwide related to cyber crime and the hacking of government agencies, the conference comes at an opportune time.

"No longer are we just concerned with protecting the technical edifice. Our emphasis has become more holistic and we tend to consider all aspects of information protection as central to the field of security," Kioko said

According to a press release these annual security conferences and exhibitions, provide a forum for discussions about in security, that will define the moment and provide a useful basis for nurturing further dialogues.

ICT in Ethiopia is considered to be one of the highest in the world, taking into consideration the prevailing poverty levels.

Currently, Ethiopia's expenditure on ICT accounts for about 10% of overall GDP, and the government has invested over $14 billion in this sector for over the last decade. A new ICT park is being built in phases to reflect the importance of the sector to Ethiopia's continued growth.

Kioko says such huge investments require banks to understand the opportunities, risks and security challenges in ICT services and products as they are the biggest consumers of technology. "Likewise, ICT practitioners need to know how they can work with bankers to protect their infrastructure," he said.