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Moving Up Course of Entrepreneurship, Mixture of Bile & Honey- Okere

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Mr. Austin Okere, country manager, the founder of Computer Warehouse Group Plc; Banke Alawaye, Praekelt, were some of the key players in the Nigerian telecom ecosystem who attended the September 2017 edition of CFA’s Start-ups Hangout, weekend.

 

The monthly event which has been in the run for the ninth consecutive month had in attendance different startups, entrepreneurs who were addressed by two successful entrepreneurs.

 

Speaking at the event, Okere, founder, and vice-chairman, CWG Plc, explained that moving from the bottom to the top in the course of entrepreneurship is like a mixture of bile and honey, adding that there are times when things would go as planned, while there are times when things become tough.

 

“In this journey, I have learned that it is not always flourishing, when it is flourishing, save some money; when it is tough to keep moving and don’t relent.

 

There were times that my company was making money, at some point, I accumulated debt worth over N500 million, but we kept pushing; today the story is not the same. You just have to keep moving it’s a mixture of bile and honey, Austin stressed.

 

The CWG Plc boss explained that startups should always see the entrepreneurial journey as a journey without destination, as most entrepreneurs get victimised under the illusion that they have arrived.

 

“There is no such thing called destination in the journey, you have to keep going and avoid spending resources recklessly.

 

He argued that entrepreneurship is about continuously providing solutions to problems, through a service or product. Adding that the App entrepreneurs develop is not the business rather the solution that the App solves is the business.

 

In her words, Banke Alawaye, country manager, Praekelt, IT Consulting Company said running a business as an entrepreneur is a complex model that involves several phases.

 

She said understanding properly the modes of operation, and the product cycle of a business requires every entrepreneur to keep the passion going while learning in every phase.

 

The reason for starting a business is the passion that keeps an entrepreneur going in that business. “It is the reason that excites and drives an entrepreneur to pursue their ideas.

 

Banke stated that the ‘How,’ includes issues, such as finding the right relationship help you achieve your thoughts, taking good care of them to motivate them well, in spite of the limited resources available to you as a startup.

 

She explained that the use of technological tools wisely will improve work processes, understanding your product cycle and accountability.

 

“These methods involve which involves tracking the cost of funds that go into making your goods and services, checks and balances.”

 

 

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Cybervergent’s Q1 2024 Report Reveals Rising Threat of Remcos RAT Malware in Financial Sector

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Cybervergent, a foremost technology company providing automated cybersecurity solutions, in its Quarterly Brief has revealed a troubling trend in the financial sector that shows a spike in attacks utilising the deceptive Remote Control and Surveillance Access Trojan (Remcos RAT) in Q1, 2024.

The findings affirm a stark forewarning to the financial institutions and organisations in the African continent, urging heightened vigilance and proactive measures to mitigate potential escalating risks.

Previously marketed as a legitimate software, Remcos got co-opted by malicious actors and is now a prevalent tool in cybercrime campaigns. This remote access tool grants attackers hidden entry into victims’ devices, allowing them to seize control, pilfer sensitive data, and even introduce stealth backdoors to compromise entire systems. The capabilities of Remcos are diverse and frightening, ranging from disabling vital security features like User Account Control (UAC) to covertly recording user activities.

“As vigilant cybersecurity gatekeepers, we have observed a significant surge in attacks leveraging the Remcos RAT malware,” said Gbolabo Awelewa, the Chief Solutions Officer, Cybervergent. “Financial institutions are particularly targeted due to the sensitive nature of their data and assets. Organisations must remain diligent and adopt proactive monitoring measures to safeguard against such threats.”

The proactive approach adopted by Cybervergent’s Cyber Operations Centre involves meticulous analysis of attacker tactics, constant updating of threat intelligence, and implementing robust endpoint security solutions. These measures are designed to detect, prevent, and neutralise Remote Access Trojans like Remcos, ensuring the continued security and compliance of organisations in the face of evolving cyber threats.

“Our mission is to fortify our clients’ defenses and ensure the seamless operation of their organisations,” added Gbolabo. “By staying ahead of emerging attack vectors and vulnerabilities, we empower businesses to take proactive measures and protect their valuable assets.”

Looking ahead, Adetokunbo Omotosho, Chief Executive Officer of Cybervergent emphasised the firm’s focus on empowering organisations to navigate the complexities of cybersecurity and compliance with dexterity and confidence.

“Cybervergent’s Assurance and Compliance Team has demonstrated unparalleled leadership in the cybersecurity domain, achieving significant milestones and delivering transformative solutions. Our journey through Q1 reflects a deep commitment to advancing the state of cybersecurity compliance, paving the way for a secure and resilient digital future for organisations in Africa and across the world”, he added.


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Konga Launches Free Same Day Deliveries on Starlink, Apple & Samsung Nationwide

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Konga, the only authorised shop-in-shop for Starlink Internet kits in Nigeria, is offering its customers free same day delivery across all major cities in the country.

With prices of Starlink Internet kits slashed by 50%, Konga is delivering additional value so that both homes and businesses in urban and remote places can enjoy infinite possibilities with their internet on both their standard and enterprise installations. This offer which is available both online and in its retail stores nationwide is exclusive to new and existing customers this month.

With the improvement in prices on both original standard and enterprise Starlink kits, customers can now enjoy a global warranty and direct installation services by purchasing only on Konga.

Since the launch of the partnership with the Elon Musk owned satellite internet provider, Nigerians have continued to celebrate the uninterrupted supply of fast and efficient cyber network services from the authentic devices available on Konga.

In addition to Starlink, other unique items from leading global companies such as Apple, HP, Lenovo, Samsung, Zinox, Philips, Intel and many more are available at unbeatable discounts in the Konga Tech Month from the 1st and will run till the 31st of May 2024.

The Konga Tech Month was extended from its traditional 7day promotion to 30days to give more people access to exclusive deals throughout the month. To enjoy these mouthwatering offers, visit konga.com or any of its physical outlets today.


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Experts Report More than Two Critical Cyber Incidents per day in 2023

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The frequency of high-severity incidents with direct human involvement exceeded two per day in 2023, according to the Kaspersky Managed Detection and Response (MDR) team.

In the latest MDR Analyst Report, they observed this trend across all industries with financial, IT, government, and industrial sectors at the top of the list.

The annual Managed Detection and Response (MDR) Analyst Report provides information about the reported incidents, their nature, and their distribution by industry and geographic region.

It also highlights the most common tactics, techniques and tools attackers used in the past year. These results are based on analysis of MDR incidents detected by the Kaspersky Security Operations Center (SOC).

According to the report, 22.9% of all detected high-severity incidents were recorded in the government sector. IT companies came second (15.4%), closely followed by financial and industrial companies that reported 14.9% and 11.8% of incidents, respectively.

Regarding the nature of these incidents, nearly 25% of them were driven by humans. Just over 20% involved various types of ‘cyber exercises’, which had been previously classified by Kaspersky as targeted attacks but designated as ‘cyber exercises’ upon explicit confirmation by the customer.

The percentage of malware attacks resulting in serious consequences dipped slightly in 2023 compared to previous years, accounting for just over 12% of the total reported critical incidents.

This decline represents the smallest share of high severity incidents in recent years and can be attributed to the “commoditization of attacks”.

This trend reflects the widespread adoption of previously developed tools, originally designed for conducting targeted campaigns which, due to deliberate or accidental leaks, have become common. These tools are now being repurposed in attempts to implement fully automated attack scenarios.

The 2023 MDR’s report, also found that the proportion of incidents involving the detection of targeted attack artefacts, publicly available critical vulnerabilities and the use of social engineering was around 4-5%.

“In 2023, Kaspersky detected a smaller number of high-severity incidents, but observed a simultaneous increase in the number of medium and low severity ones. This redistribution of occurrences is associated with the detection of malware without visible traces of active human participation in attacks, which can be explained by the “commoditization of tools”.

However, it’s important to understand that the low number of high-severity incidents does not necessarily indicate low damage. Targeted attacks are now planned more carefull, and become more dangerous.

Therefore, we recommend the use of effective automated cybersecurity solutions managed with the help of experienced SOC analysts,” comments Sergey Soldatov, Head of Security Operations Center at Kaspersky.

To enhance protection against advanced attacks, companies are advised to implement effective cybersecurity solutions and hire qualified practitioners to manage them or adopt managed security services such as Managed Detection and Response (MDR) and Incident Response.

These products cover the entire incident management cycle from threat identification to continuous protection and remediation. These services will help protect against evasive cyberattacks, investigate incidents and provide additional expertise even if a company lacks security workers.

 


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