E-Business
SophosLabs Research Reveals Africa’s Cyber Threats Level
Sophos, a global leader in network and endpoint security (www.sophos.com/en-us/lp/endpoint5reasons.aspx?cmp=701j0000001q1B9AAI), has revealed SophosLabs research that indicates a growing trend among cybercriminals to target and even filter out specific countries when designing ransomware and other malicious cyberattacks.
From the research result, African countries where shown to be on average threat level.
The African countries that were at an average level, according to SophosLabs include: Tanzania – 11.1 percent Kenya – 11.5 percent South Africa – 11.6 percent Egypt – 12.4 percent Angola – 15.7 percent Nigeria – 15.7 percent Tunisia – 16.4 percent Morocco – 16.6 percent Uganda – 24.9 percent Ghana – 25.5 percent Mozambique – 28.3 percent Algeria – 30.7 percent Zambia – 35.5 percent and Malawi – 39.4 percent.
The research includes information from millions of endpoints worldwide and is analyzed by the team at SophosLabs.
To lure more victims with their attacks, cybercriminals are now crafting customized spam to carry threats using regional vernacular, brands and payment methods for better cultural compatibility, according to Sophos.
Ransomware cleverly disguised as authentic email notifications, complete with counterfeit local logos, is more believable, highly clickable and therefore more financially rewarding to the criminal.
To be as effective as possible, these scam emails now impersonate local postal companies, tax and law enforcement agencies and utility firms, including phony shipping notices, refunds, speeding tickets and electricity bills.
SophosLabs has seen a rise in spam where the grammar is more often properly written and perfectly punctuated.
“You have to look harder to spot fake emails from real ones,” said Chester Wisniewski, senior security advisor at Sophos. “Being aware of the tactics used in your region is becoming an important aspect of security.”
Researchers also saw historic trends of different ransomware strains that targeted specific locations. Versions of CryptoWall predominantly hit victims in the U.S., U.K., Canada, Australia, Germany and France, TorrentLocker attacked primarily the U.K., Italy, Australia and Spain and TeslaCrypt honed in on the U.K., U.S., Canada, Singapore and Thailand.
The analysis also shows Threat Exposure Rates (TER) for countries during the first three months of 2016.
Although Western economies are more highly targeted, they typically have a lower TER. Nations ranked with the lowest TER include France at 5.2 percent, Canada at 4.6 percent, Australia at 4.1 percent, the U.S. at 3 percent, and the U.K. at 2.8 percent..
The African countries were reported to be at an average level.
Algeria at 30.7 percent, Bolivia at 20.3 percent, Pakistan at 19.9 percent, China at 18.5 percent and India at 16.9 percent are among countries with the highest percentage of endpoints exposed to a malware attack
“Even money laundering is localized to be more lucrative. Credit card processing can be risky for criminals, so they started using anonymous Internet payment methods to extort money from ransomware victims,” said Wisniewski. “We have seen cybercrooks using local online cash-equivalent cards and purchasing locations, such as prepaid Green Dot MoneyPak cards from Walgreens in the U.S. and Ukash, which is now paysafecard, from various retail outlets in the U.K.”
Tweet This: “Designer” cyber threats on the rise with localized logos, language and payment methods, according to Sophos.
The concept of filtering out specific countries has also emerged as a trend.
“Cybercriminals are programming attacks to avoid certain countries or keyboards with a particular language,” said Wisniewski. “This could be happening for many reasons. Maybe the crooks don’t want attacks anywhere near their launch point to better avoid detection. It could be national pride or perhaps there’s a conspiratorial undertone to create suspicion about a country by omitting it from an attack.”
Banking is an example of how cybercriminals are using location-based malware to be more prosperous. Sophos research reveals historically how Trojans and malware used to infiltrate banks and financial institutions converges on specific regions: Brazilian banker Trojans and variants pinpoint Brazil; Dridex is predominant in the U.S. and Germany; Trustezeb is most prevalent in German speaking counties; Yebot is popular in Hong Kong and Japan.
Zbot is wider spread, but mostly in the U.S., U.K., Canada, Germany, Australia, Italy, Spain and Japan.
“There is an entire cottage industry of uniquely-crafted Trojans just targeting banks in Brazil,” said Wisniewski.
With cybercriminals having a deliberate hand in creating threats that look authentic and are specifically targeted, it is more difficult to recognize malicious spam.
Home computer users are often a target of these attacks and should protect their systems from sophisticated malware threats. Free enterprise-grade security software that can detect threats and protect both Mac and PC for the home user is available from Sophos Home.
This research and analysis is from SophosLabs, a network of security experts across the world who detect and track all types of Internet breaches 24/7/365 worldwide, including computer viruses, advanced malware and Trojans, spam, web threats, hack attacks and more.
SophosLabs receives and investigates millions of emails, URLs, files and other data points daily and leverages its extensive expertise within the group to develop new definitions that detect entire classes of threats and new variants.
With facilities strategically located in Australia, Hungary, U.K. and Canada, SophosLabs experts also monitor and determine threat trends and maintain malware, spam and web threat dashboards in real time.
More than 100 million users in 150 countries rely on Sophos’ complete security solutions as the best protection against complex threats and data loss.
Simple to deploy, manage, and use, Sophos’ award-winning encryption, endpoint security, web, email, mobile and network security solutions are backed by SophosLabs – a global network of threat intelligence centers.
Sophos is headquartered in Oxford, U.K., and is publicly traded on the London Stock Exchange under the symbol “SOPH.” More information is available at www.sophos.com.
*Sample of a Phishing mail intercepted by Nigeria CommunicationsWeek reporter on Monday, May 9, 2016. Google has since denied been the source of such email.
Access Holdings Plc and Coronation Group have partnered with Tate Modern to commemorate World Art Day with a virtual session highlighting the global significance of Nigerian modernism.
Access Holdings
The event, titled “In Conversation with Osei Bonsu: Inside Nigerian Modernism,” featured a virtual tour of the Nigerian Modernism exhibition and discussions on the evolution of modern art in Nigeria.
The session brought together staff members across both organisations, reflecting growing institutional engagement with arts and culture as a driver of societal development.
Speaking at the event, Chief Communications and Marketing Officer of Coronation Group, Ngozi Akinyele, emphasised the role of art in shaping identity and national development.
She said that beyond financial capital, cultural and intellectual capital are essential in defining a nation’s prosperity and inspiring dialogue.
Akinyele noted that both organisations were committed to democratising access to art, ensuring it is accessible to a wider audience rather than a select few.
The discussion also featured insights from Tate Modern Curator, Osei Bonsu, and art expert Daniel Wallis, who examined the development of Nigerian modernism and its global relevance.
Bonsu said Nigerian modernism represents an independent reimagining of global art, rooted in the country’s diverse cultural heritage and expressed through unique visual languages.
According to him, the movement challenges narrow, Eurocentric definitions of modernism and highlights the richness of African artistic expression.
The session further underscored the growing international recognition of Nigerian art, particularly through exhibitions at Tate Modern.
Participants also reflected on the visit of Bola Ahmed Tinubu to the exhibition, described as a milestone in promoting Nigeria’s cultural heritage globally.
In his closing remarks, Chief Communications Officer of Access Holdings, Amaechi Okobi, reaffirmed the organisation’s commitment to advancing African narratives on the global stage.
He said the collaboration with Tate Modern aligns with broader efforts to promote dialogue, preserve cultural identity and support the creative sector.
The event reinforced a shared commitment by Access Holdings, Coronation Group and Tate Modern to elevate African art globally and ensure Nigerian cultural narratives continue to shape international conversations.
Nigeria Data Protection Commission (NDPC) has issued a regulatory advisory to data controllers and processors across the country following what it described as escalating threats to Nigeria’s data security architecture.
NDPC
In a statement signed by Babatunde Bamigboye, lead of Legal, Enforcement and Regulations, the commission said its technical assessment revealed that some shadowy threat actors were engaged in coordinated operations targeting financial systems and critical digital infrastructure in Nigeria.
The commission urged public institutions to comply with the presidential directive of Bola Ahmed Tinubu, which emphasises the strategic importance of data in national development.
According to the NDPC, the President had declared that “data is the new oil,” stressing the need for Ministries, Departments and Agencies (MDAs) to rigorously capture and safeguard information in line with the Nigeria Data Protection Act, 2023.
The commission therefore advised all data controllers and processors to urgently strengthen their technical and organisational measures to protect personal data and ensure compliance with the law.
It listed key measures to include the appointment of trained and certified Data Protection Officers, implementation of comprehensive privacy policies and information security standards, as well as conducting Data Privacy Impact Assessments.
Other measures recommended by the NDPC include deployment of robust identity and access controls such as Multi-Factor Authentication, adoption of zero-trust security architecture, prompt remediation of system vulnerabilities, and continuous patch management.
The commission also emphasised the need to secure cloud infrastructure, application programming interfaces (APIs), databases and access credentials, alongside real-time monitoring, logging and threat detection systems.
Further recommendations include encryption and secure credential handling, regular vulnerability assessment and penetration testing of critical systems, as well as routine backup and resilience testing.
The NDPC warned that organisations that fail to implement appropriate data protection measures in accordance with the Nigeria Data Protection Act, 2023 risk legal liabilities.
It reiterated its commitment to providing regulatory support to organisations while ensuring the protection of personal data and strengthening institutional resilience across all sectors.
The forex market across Africa is witnessing more participants and more regulatory attention than it did just a few years ago. This growth is part of a bigger picture: Sub-Saharan Africa is expected to expand by 4.3% in 2026, while global forex turnover already hit an estimated $9.6 trillion daily in April 2025. However, there’s more to it than macroeconomic figures.
The trends reshaping the market are happening from within. Here are six worth paying close attention to.
1. Trading Has Moved to the Phone
The number of people accessing the market via mobile phones exceeds those accessing it via traditional bank systems. GSMA states that in Sub-Saharan Africa alone, there are more than 1.1 billion registered mobile money accounts.
The International Monetary Fund states that digitalisation and increased usage of the internet are changing payment systems in the Sub-Saharan Africa region.
Mobile access changes traders’ behavior. It lowers the barrier to entry and speeds up deposits and withdrawals. Therefore, brokers who can provide a quality mobile trading experience will have a huge advantage.
2. Regulators Are Watching
The market is becoming more structured and more transparent. In South Africa, the FSCA regulates market conduct for financial institutions. In Kenya, the Capital Markets Authority regulates capital markets and maintains a licensing system that includes online forex brokers.
Nigeria’s SEC has publicly warned that online retail forex trading can be subject to abuse when unregulated. It also provides tools for investors to check operators’ registrations.
As a result, in 2026, more traders are likely to favour brokers that can show clear licensing, transparent operations, and stronger investor safeguards.
3. Volatility Varies by Country
A common mistake is perceiving the African market as one entity. In reality, according to RegTech Afrika, there are 21 countries out of a total of 54 that have a chance of seeing their currencies depreciate in 2025, with some of them losing value by as much as 6% or more.
A trader watching the rand, naira, shilling, or cedi, regional headlines needs more than regional headlines. Country-level macro data, central bank moves, and the US dollar will still play a major role.
4. Cross-Border Payment Infrastructure Is Quietly Improving
Platforms like PAPSS are helping make payments across African countries faster and easier to complete in local currencies. According to official announcements of PAPSS, it has become operational in 18 countries across Africa, with its latest launch in Algeria in 2025. It has also become operational in Kenya through a partnership with KCB Group, as well as in Rwanda through a partnership with Bank of Kigali.
Step by step, Africa is becoming a more financially connected continent.
5. Execution Quality Is the New Standard
Data from the BIS shows that in April 2025, three-quarters of FX trades were intermediated by the global centers of the United Kingdom, the United States, Singapore, and Hong Kong. Therefore, the best liquidity and best prices are still linked to global conditions.
For local markets, this raises the bar. Forex traders are becoming increasingly aware that tight spreads, while important, mean little without reliable prices and execution. Brokers like JustMarkets that can bring all of these elements together are in a much stronger position than competitors.
6. Education as a Necessity
Regulatory disclosures from major global brokers illustrate how tough it is to trade without proper knowledge. According to publicly available disclosures, between 70% and 80% of retail investor accounts lose money when trading CFDs.
Forex traders who understand risk management and which financial news to follow have a better chance of surviving the market. Brokers who invest in education are more likely to be seen by traders as valuable partners rather than mere facilitators.
The Market Rewards the Prepared
Africa’s forex market in 2026 is shaped by volatility, stricter rules, and mobile-first trading. The traders who combine market knowledge with the right tools and the right broker will find real opportunity here, while those who don’t adapt will find the market increasingly unforgiving.
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