General News
Mart Networks Brings Comprehensive Cybersecurity Solutions from Infopercept to Africa
Mart Networks Group, a leading value-added distributor with a presence in the Middle East and Africa, has announced a distribution partnership with Infopercept, a leading platform-led managed security services company.
Under this agreement, Mart Networks will serve as a distributor in East and West Africa for Invinsense Offensive Extended Detection and Response (OXDR), a platform for threat exposure management, and Invinsense Govern Secure Optimize and Strengthen (GSOS), a platform for security compliance management.
Invinsense OXDR is a comprehensive threat exposure management suite that integrates Attack Surface Management (ASM), Vulnerability Management (VM), Breach and Attack Simulation (BAS), Continuous Automated Red Teaming (CART), and RedOps. It enables organizations to discover, prioritize, validate, and remediate their security exposures. These exposures extend beyond vulnerabilities to include misconfigured assets, security control weaknesses, counterfeit assets, and poor responses to phishing simulations.
Invinsense GSOS, a compliance platform, is meticulously designed to streamline the process of achieving various security compliance standards while optimizing efficiency. Comprising seven modules, it enables organizations to develop robust cybersecurity strategies, simplify compliance management, strengthen security protocols, mitigate risks, enhance cybersecurity awareness and readiness, and ensure regulatory adherence for protecting sensitive data.
“The increasing sophistication and volume of cyberattacks in Africa demand a comprehensive cybersecurity approach,” said Moiz Maloo, CEO of Mart Networks Group. “Africa must now go beyond preventive security and detection and response by incorporating proactive strategies like Threat Exposure Management.
“Security compliance is another challenge for African organizations, and they need a platform-driven approach to achieve compliance holistically.”
Speaking on the partnership with Infopercept, Mr. Maloo added, “Mart Networks is focused on two key areas: cybersecurity and delivering tomorrow’s technology today. With decades of experience in value-added distribution for cybersecurity, we have already created significant value for our customers and partners in preventive security, detection, and response. Africa is a prime target for sophisticated cyberattacks, leading to increasingly stringent security compliance requirements.
“We recognized gaps in our cybersecurity offerings and sought to address them. Infopercept’s Invinsense platform fills these gaps by providing both threat exposure management and security compliance solutions, along with managed services. This collaboration will help us protect African organizations from breaches and security exposures.”
Expressing enthusiasm about the partnership, Jaydeep Ruparelia, CEO of Infopercept, said, “Since our inception, Infopercept has been committed to cybersecurity. For our expansion into Africa, we sought a distribution partner equally passionate about the field, and we found that in Mart Networks.
“Africa presents a unique landscape with a diverse range of organizations. On one end, there are cloud-native companies, while on the other, some organizations prefer to remain entirely on-premise, with many adopting a hybrid model. With Invinsense, we have built a scalable platform that caters to the cybersecurity and compliance needs of all these organizations.
“Our platform-led managed security services model also addresses the significant cybersecurity skills gap, which is a global challenge. With Mart Networks as our partner, we are confident in delivering two critical cybersecurity outcomes for organizations in the region: defending against sophisticated cyberattacks and ensuring security compliance.”
Kaspersky has detected a wave of phishing attacks preying on former customers of the bankrupt crypto lending platform BlockFi.
These scams leverage the ongoing distribution of customer assets following BlockFi’s 2022 bankruptcy, tricking victims into surrendering cryptocurrency wallet seed phrases, potentially leading to financial losses.
BlockFi, once a prominent provider of high-yield interest accounts and crypto-backed loans, announced bankruptcy in November 2022. The company began disbursing repayments to affected clients in 2024 as part of its restructuring plan.
Kaspersky has detected fraudulent emails mimicking BlockFi’s official branding, which falsely invite recipients to “claim the payment” they are “entitled to.” After clicking on the link, users land on a phishing page and are prompted to “connect their wallet”.
The attackers suggest that users import their existing wallet by typing in the secret phrase – this grants attackers direct access to the funds in the victim’s wallet.
“Phishing attacks like this are widespread, capitalising on real-world events to build trust and urgency. Victims who fall for these scams risk exposing their crypto wallets to theft. It’s critical for individuals to verify any communications directly through official channels and to check the address from where the email originates for legitimacy,” comments Roman Dedenok, anti-spam expert at Kaspersky.
The phishing emails feature convincing logos, colour schemes, and language, making them difficult to spot at first glance. Kaspersky recommends the following steps to avoid falling victim to this or similar scams:
- Do not click on links or respond to unsolicited emails.
- Protect Sensitive Information: Never share banking credentials, wallet seed phrases, or other private keys in response to an email or online form.
- Use Security Tools: Enable two-factor authentication (2FA) on all financial accounts, employ reputable security software like Kaspersky Premium, and consider using a password manager to safeguard credentials.
Universal Insurance Plc has secured the approval of its shareholders to raise additional capital of N15 billion through a proposed recapitalisation exercise, as the insurer intensifies efforts to strengthen its balance sheet and position the company for long-term sustainability.
The approval will be granted at an Extraordinary General Meeting (EGM) scheduled for February 5, 2026 in Lagos.
Currently, Universal Insurance’s share capital stands at N8 billion, with 16 billion ordinary shares held by existing shareholders on the NGX. The board is seeking to revalidate, authorise, and regularise 14 billion unissued ordinary shares for the planned capital raise and also secure approval to list and admit the new shares for trading
Following resolutions passed at the Extraordinary General Meeting (EGM), Universal Insurance Plc is moving forward with a comprehensive recapitalisation programme aimed at reinforcing its capital base and improving its capacity to underwrite larger and more diversified risks.
Shareholders approved the plan to raise new equity through a combination of capital market instruments, subject to regulatory approvals, as part of efforts to meet industry capital requirements and support future growth.
Gross premium written rose to N18.59 billion, up from N12.29 billion a year earlier, driven by increased underwriting activity across key insurance segments. Insurance revenue also grew to N14.68 billion, compared with N9.85 billion in the prior period, reflecting stronger risk acceptance and improved pricing discipline.
Despite higher insurance service expenses, the company posted an insurance service result of N1.13 billion, while net investment income surged to N2.79 billion, supported largely by fair value gains on financial assets. As a result, net insurance and investment income increased to N5.18 billion, nearly double the N2.61 billion recorded in the same period of 2024.
On the balance sheet, total assets expanded to N21.82 billion as at September 30, 2025, from N18.14 billion a year earlier, supported by growth in financial assets and investment properties. Shareholders’ funds rose to N14.38 billion, up from N12.33 billion, reflecting improved profitability and reserve accumulation.
Investors have also responded positively to Universal Insurance’s performance, with its stock delivering an 83.33 percent return in 2025, rising from N0.66 to N1.21 per share, and trading volumes exceeding 6 billion shares.
The recapitalisation initiative, combined with the improving financial performance recorded in Q3’25, underscores Universal Insurance Plc’s determination to reposition itself as a more resilient and competitive player in Nigeria’s insurance industry.
The company aims to deliver improved value to policyholders, investors, and partners, while supporting broader economic activity and generating sustainable returns for shareholders.
Federal Ministry of Solid Minerals Development has debunked allegations by the Northern Elders Forum that the Federal Government sited a gold refinery in Lagos, breaching the federal character principle.
Minister Dele Alake
In a statement from Abuja, Special Assistant to Minister Dele Alake, Segun Tomori, described the claim by the forum’s spokesperson, Prof. Abubakar Jiddere, as “false and misleading.” He clarified that the minister never announced any government-owned gold refinery in Lagos or elsewhere.
Mr Tomori stressed that Minister Alake explicitly described the refinery as a private initiative by Kian Smith, one of several such projects nationwide. “The Federal Government does not compel private companies to site operations in specific regions,” he added, crediting founder Nere Emiko’s leadership.
The project supports the government’s value-addition policy to curb raw mineral exports and boost local processing. Reforms over two years have spurred investments like a $600 million lithium plant in Nasarawa, a $400 million rare earth facility there, and a $200 million ASBA lithium plant in Abuja.
Tomori highlighted the policy’s role in attracting foreign capital and creating jobs, describing the Lagos refinery as proof of successful reforms. He urged the Northern Elders Forum to back efforts for a stronger Nigerian economy rather than spreading misinformation.
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