General News
Africa Becoming Magnet for Foreign Investment, But- Deloitte
Rising consumer demand, aligned with annual growth of around eight per cent, is likely to add around $1.1 trillion to African GDP by 2019, with Ethiopia, Uganda and Mozambique among the fastest expanding markets, and large economies such as Nigeria, South Africa and Egypt continuing to perform strongly, according to statistics contsined in 9th edition of the Deloitte Consumer Review.
In the review, Deloitte said that in recent years a diversifying economy has supported an emerging middle class, driving demand for consumer goods and services, as well as luxury brands.
However, risks remain, including a lack of infrastructure, poor governance, fragile security and unreliable logistics, but conflicts are more localised and democracy is spreading, suggesting the dominant trend is positive.
In Deloitte’s view, the consumer opportunity in Africa rests on five key pillars: the rise of the middle class, exponential population growth, the dominance of youth, rapid urbanisation and fast adoption of digital technologies.
Between 2000 and 2012, Africa’s aggregate household final consumption expenditure grew at an average annual rate of 10.7 per cent, rising by more than $850 billion and reaching nearly $1.3 trillion.
The emerging middle class is more optimistic, brand conscious and connected. In 2013 there were over 375 million middle class people living in Africa, or 34 per cent of the population. By 2030, over half a billion Africans are projected to be middle class.
While the numbers are impressive, it should be noted that 60 per cent of those considered middle class today live on $2 to $4 a day.
More than 200 million Africans, or just over 20 per cent of the total population, are aged between 15 and 24, and that demographic is expected to grow to 321 million by 2030.
Younger Africans form a large share of the rising middle class and will seek to access a wider choice of food, consumer goods and entertainment, and increased connectivity.
Africa’s population is also increasingly clustered in large urban centres, and urbanisation will be a key driver of economic activity.
Many urban areas will cross national boundaries, linking major populations and creating sizable markets and trade opportunities.
The growth of mobile digital technologies meanwhile has also allowed Africans to leapfrog poor landline infrastructure.
Africa is already a world leader in mobile money and mobile is fast becoming the primary channel for accessing the Internet.
The potential for growth is significant, with only 20 per cent of the population online, compared with nearly 75 per cent in Europe and 32 per cent in Asia.
To measure current consumer sentiment, Deloitte surveyed young Africans across four of the fastest growing consumer markets: Egypt, Kenya, Nigeria and South Africa.
The research shows that young consumers in the fastest growing markets of Kenya and Nigeria are most optimistic about their personal financial situation, more than in wealthier South Africa and Egypt.
Despite low income levels, young consumers surveyed attach more importance to the quality of products than price.
Across the four markets researched, quality ranks higher than value for money when it comes to deciding where to shop.
Not only are younger African consumers focused on quality, they are also brand conscious. Deloitte research shows that in some categories, such as food and drinks, local brands are preferred by the younger population.
In other areas, such as fashion and cosmetics, quality is linked to international brands.
The results of the survey suggest that Africa is not suffering from a lack of demand, but sometimes from a lack of supply.
However, where there are challenges, there are also opportunities to innovate and given the potential for growth the continent offers, the business opportunities in Africa could outweigh the risks.
Speaking on the review, Nigel Wixcey, lead partner, Consumer Business, Deloitte LLP said, “At a time when many emerging economies are slowing, Africa is now the second fastest-growing economic region behind Asia and is becoming a magnet for international capital. While Africa’s economy is going through an impressive transformation, it remains fragile, as the recent Ebola outbreak reminds us. Still, in the past decade it has seen strong growth, thanks to high commodity prices, a rise in foreign investment, increased political stability and improved economic governance.
“In this report, Deloitte aims to assess how the African market has developed, how perceptions of Africa have changed and how consumers are responding to period of rapid economic growth. What it took to succeed in the past may not be what it takes to succeed in the future. We discuss the importance of developing a 21st century view of the African consumer market and make the case for seizing the opportunity”.
Commenting on the review, Simon Carpenter, chief customer officer, SAP Africa, said the growth and advances in the African consumer market are some of the reasons why SAP is excited to be invested in building Africa’s information infrastructure.
He said, “Getting the right goods to consumers, profitable, requires insight and execution, supply chain optimisation and coordination, efficient ports and harbours feeding responsive hinterland logistics systems and appropriately stocked wholesale and retail outlets, online and on the ground.
“And SAP is there for all of these sectors, enabling each player to be their best and linking them all in responsive business networks – making sure that Deloitte’s prognosis that the ‘dominant trend is positive’ becomes a reality for Africa,” he said.
Sophos, a global leader of innovative security solutions for defeating cyberattacks, today announced new findings from the Sophos State of Ransomware in Manufacturing and Production 2025 report.
Sophos
The study reveals that manufacturers are stopping more ransomware attacks before data can be encrypted; however, adversaries are increasingly stealing data and using extortion-only tactics to maintain pressure.
As a result, more than half of manufacturing organizations impacted by encryption paid the ransom despite progress in defensive measures. The report is based on an independent survey of 332 manufacturing organizations that were hit by ransomware in the last year.
The Sophos State of Ransomware in Manufacturing and Production report found:
● Encryption rates are falling, but adversaries are shifting tactics: 40% of attacks on manufacturers resulted in data encryption, the lowest level in five years and down from 74% last year. However, extortion only attacks surged to 10% from just 3% in 2024 as attackers increase reliance on data theft for leverage.
● Data theft remains a significant concern: 39% of manufacturers that experienced encryption also had data stolen, one of the highest rates across all surveyed sectors.
● More organizations are stopping attacks before encryption: 50% of manufacturing organizations stopped the attack before data could be encrypted, more than double last year’s 24%.
● Expertise shortfalls and inadequate protection fuel attacks: Lack of expertise was cited by 42.5% of organizations. Unknown security gaps were cited by 41.6%, and a lack of protection by 41%. Respondents identified an average of three internal factors that contributed to the attack.
● More than half of manufacturers with encrypted data paid the ransom: 51% of affected organizations paid the ransom. The median ransom paid was $1 million dollars, compared to a median demand of $1.2 million dollars.
● Recovery costs and timelines are improving: The average cost to recover from a ransomware attack, excluding ransom payment, declined by 24% to $1.3 million dollars. 58% of manufacturers fully recovered within one week, up from 44% last year.
● Ransomware incidents affect IT and security teams: 47% of manufacturers reported increased team stress after experiencing data encryption. 44% said pressure from senior leaders increased, and 27% reported leadership change as a result of the attack.
“Manufacturing depends on interconnected systems where even brief downtime can stop production and ripple across supply chains,” said Alexandra Rose, Director of Threat Research, Sophos Counter Threat Unit. “Attackers exploit this pressure: despite encryption rates falling to 40%, the median ransom paid still reached $1 million. While half of manufacturers stopped attacks before encryption, recovery costs average $1.3 million and leadership stress remains high. Layered defenses, continuous visibility, and well-rehearsed response plans are essential to reduce both operational impact and financial risk.”
What Sophos is Seeing in Manufacturing
Over the past twelve months, Sophos X-Ops has observed ransomware activity across leak sites and found that 99 distinct threat groups targeted manufacturing organizations.
The most prominent groups targeting manufacturing organizations based on leak site observations are GOLD SAHARA (Akira), GOLD FEATHER (Qilin) and GOLD ENCORE (PLAY). Reflecting the trends revealed in the report, in over half of the ransomware incidents that
Sophos Emergency Incident Response was brought in to remediate, attackers both stole and encrypted data, highlighting the use of double extortion tactics where data is held for ransom and threatened with release on a leak site.
Strengthening Defenses for the Long Term
Based on its experience protecting manufacturing organizations worldwide, Sophos recommends the following best practices to help businesses stay ahead of ransomware and other cyberthreats:
● Eliminate Root Causes: Take proactive steps to address common technical and operational weaknesses—such as exploited vulnerabilities—that adversaries frequently target. Solutions like Sophos Managed Risk can help organizations assess their exposure and reduce risk across their environments.
● Defend Every Endpoint: Ensure all endpoints, including servers, are protected with dedicated anti-ransomware defenses to prevent attacks from gaining a foothold.
● Plan and Prepare: Establish and routinely test a comprehensive incident response plan. Maintain reliable backups and practice data restoration regularly to minimize downtime in the event of an attack.
● Monitor Around the Clock: Continuous visibility is essential. Organizations without in-house resources can strengthen their resilience by partnering with a trusted Managed Detection and Response (MDR) provider.
Spotify
This year, Spotify is bringing back the fan-favourite features people already love, while adding new experiences that spotlight how listeners across Africa moved, prayed, worked, partied and rested with audio. Wrapped Party invites fans to dive into their stories with friends and family, and 50 fan destinations worldwide give listeners a place to come together, celebrate their year in music and feel part of something truly global.
From design to in-person experiences and data stories rooted in local listening, this is how the 2025 Wrapped campaign comes to life across Africa.
A modern visual mixtape for Africa
Before streaming, mixtapes and burned CDs were the original playlists: handpicked, decorated and passed between friends, cousins and neighbours as deeply personal gifts. The 2025 Wrapped design builds on that tradition, turning a year of listening into a bold, dynamic visual mixtape for more than 700 million fans around the world – including millions across Africa.
Every gradient and texture reflects that unpredictable mix of emotion and rhythm that makes listening so personal. With a reduced colour palette, bold imagery and a blend of analogue and digital aesthetics, 2025 becomes the most expressive and modern-feeling Wrapped yet. From amapiano dance circles in Johannesburg to late-night studio sessions in Lagos and road-trip singalongs in Nairobi, the look and feel of Wrapped mirrors how African fans actually experience music – loud, layered and full of feeling.
Immersive real-world experiences – and an amagwinya road trip
The Wrapped creative campaign is live in more than 30 markets globally as Spotify moves beyond traditional billboards to create immersive experiences that celebrate the artists who defined 2025. Across Africa, installations and pop-ups bring Wrapped digital storytelling into the real world with artist integrations, interactive photo moments and live performances for top listeners.
In South Africa, Wrapped quite literally hits the road. Inspired by the heartbreak of reaching the front of the line only to hear the gwinyas are finished – and the way Darwin Rev turned that moment into a national mood with Amagwinya Aphelile – the Where Are the Gwinyas? fan destination sends a Wrapped-branded amagwinya kombi on a multi-city road trip.
The truck travels through Cape Town, Durban, Johannesburg and Pretoria, serving up gwinya with a Wrapped twist – from fish fillet to bunny-chow-inspired curry fillings and classic snoek, atchar and polony. At each stop, fans turn up their favourite Wrapped anthems, transforming the kombi from simple food truck into rolling street party.
“Wrapped has always been about reflecting fans’ stories back to them, and this year those stories from Sub-Saharan Africa are literally spilling into the streets. From the amagwinya road trip in South Africa to the data stories coming out of Nigeria and Kenya, we’re showing that the numbers behind Wrapped are really about how people here live, move and connect through music,” says Spotify’s Head of Marketing for Africa, Sithabile Kachisa.
How Africa listened in 2025
Wrapped is ultimately about turning listening data into stories fans can see themselves in – and nowhere is that more vivid than in Africa.
In South Africa, early mornings belonged to Ciza’s Isaka, with more than 46,000 fans pressing play at exactly 6:00 a.m., turning sunrise into a shared soundtrack. Mafikizolo’s Uyoncengwa Unyoko passed 14 million plays, proving some songs are built for repeat on both the dancefloor and in the taxi rank.
In Nigeria, Fido’s Joy is Coming found its way onto more than 700 playlists tagged as sad, as listeners reached for hope even when the mood was low. Davido’s With You amassed over 42 million streams, underlining the staying power of one of the country’s most beloved hitmakers.
In Kenya, Extra Pressure was added to fans’ gym playlists, turning workouts into high-stakes training montages, while Njerae’s Aki Sioni crossed 3.2 million streams, transforming vulnerability into a chart-ready strength.
Across the continent, these moments show how Wrapped transforms numbers into narratives. The stats reveal not just what Africa listened to in 2025, but how, when and why it mattered – from perfectly timed play buttons and weekday rituals to songs that travelled through communities as gifts, prayers, jokes and declarations. Wrapped gathers all of that energy and hands it back to fans as a story only they could have written.
Corporate Affairs Commission (CAC) has warned Nigerians against dealing with 15 unregistered entities using company names and registration numbers that are not in the commission’s records.
In a public notice signed by CAC Management, the commission said it had discovered the use of purported company names and RC numbers that are not registered with the CAC, urging the public to disregard them and verify all business information directly from its portal.
“The CAC remains committed to protecting the integrity of the Companies Register, upholding the law, and ensuring a safe and transparent business environment in Nigeria,” the CAC said.
According to the notice, the following are the entities not registered with the CAC:
Famas Services Nigeria Limited (RC: 216312)
Promo Dutch Investment Limited (RC: 396654)
Dialack Concept Nig. Ltd (RC: 297772)
Purpleheart Construction and Real Estate Mgt. Co. Ltd (RC: 1210548)
M/S Loktu Enterprises (BN: 373466)
Loktu Enterprises (BN: 400390)
Badatoyak Ltd (RC: 521322)
Johson Nats Limited (RC: 198492)
Peoples Club Nigeria International (CAC/IT/41191)
Jiba Enterprise (BN: 577523)
Civil Engineering Solutions Nigeria Limited (RC: 33001)
Gabdoff Hotel Ltd (RC: 112409)
Amoka Group (BN: 545221)
BEEC Nigeria Limited (RC: 30143)
- Adetunji (BN: 657466)
Explaining the reason for the commission’s publication, the statement noted that it aligns with its statutory role of maintaining an accurate and reliable companies register, protecting investors, and preventing fraudulent activities in the business environment.
The commission urged Nigerians to always confirm the status of any company or business name through its official portal.
PAPSS Cowry to Benefit Manufacturers, SMEs
Access Bank’s Digital Innovation Earns Top Financial Inclusion Award
NIPR Postpones Maiden PRICE Awards to January 25, 2026
CBN’s New Cash Policy: A Welcome Liberalisation or a Risky Retreat?
Africa Must Build Its Own Cybersecurity Intelligence, Says Tizel CEO At AfriTech 5.0
Oluwaseun Dania Unearths How AI will Shape Africa’s Creative-AI Future @ World Bank Forum
Kaspersky Introduces Cyber Pathways to Support Career Development in Cybersecurity
Nigeria’s $618m Tech Incubator Debuts
NITDA DG Tasks Youths to Drive Africa’s Digital Transformation
Firm Urges Organizations to Check Protection of their Websites Amid Search Engine Optimisation Attack Schemes
Broadcasting2 days agoIt is Official, DStv Confirms Termination of 16 Major Channels
E-Financial2 days agoSenate Considers Bill to Empower CBN to Regulate Fintech
Broadcasting2 days agoParamount Africa Shuts Down after 20 Years
News2 days agoAfreximbank Taps Nigeria to Lead Africa’s Digital Trade Revolution
Telecom2 days agoAfrica’s $1bn Biometric ID Rollout Raises Concerns Over Privacy and Exclusion
E-Financial2 days agoBinance Launches ‘Binance Junior’ Crypto Savings Account for Kids and Teens
Telecom2 days agoSenator Akpoti Tops Google Searches in Nigeria’s 2025 Year in Review
E-Business2 days agoGenAI Adoption Among African workers Outpace Global Peers