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Elumelu Wins Africa Investor ‘Person of the Year’ Award in New York

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Mr. Tony Elumelu, Chairman Heirs Holdings and recipient of the 'Person of the year’ award (3rd left) flanked by other award recipients; Mr. Bob Collymore, CEO Safaricom (left), Ms. Vicki Fuller, CIO, New York State Common Retirement Fund (2nd left) and Dr Daniel Matjila, CEO, Public Investment Corporation of  South Africa at the AI Investment Summit in New York ..Monday.
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Mr. Tony Elumelu, chairman of Heirs Holdings, yesterday, while receiving the ‘Person of the Year’ award at the Africa Investor CEO Institutional Investment Summit hosted alongside the UN General Assembly in New York, extolled stakeholders in the public and private sectors committed to improving access to power in Africa.

He first acknowledged the staff and management of Transcorp Power, the biggest producer of thermal energy in Nigeria, providing about 18% of national output: “In accepting this award, I want to dedicate it to Transcorp Power staff who remain committed to realizing our dream of improving access to electricity in Nigeria and making our vision of a well-lit, fully powered Nigeria come true.”

Transcorp Power has supported U.S. President Obama’s Power Africa initiative with a $2.5billion commitment.

He thanked the broader coalition of investors in the African power sector, as he urged other institutional investors to consider long-term opportunities on the continent. “I also dedicate this to all stakeholders working hard to improve access to power in Africa. I call on others to please join us in this journey to powering Africa out of poverty.”

As the economies of African regional powerhouses like Democratic Republic of Congo, Mozambique, Uganda, Nigeria and Angola struggle due to excessive exposure to commodities’ prices caused by limited diversification, Elumelu proffered a sustainable solution to reduce Africa’s historical external vulnerability.

“Africa has been faced with this same challenge, in my view, for far too long. I choose to look at the recent episodes of economic contraction across the continent as opportunities to diversify our economies and invest in building critical infrastructure, especially in power, to reduce our susceptibility to commodity shocks and break out of the perpetual boom-bust cycles.”

He emphasized that to ensure a different type of growth trajectory for Africa – one that does not rely exclusively on the export of primary commodities –  there must be reliable, accessible, affordable power to support industrialization.

“Industrialization must occur on a massive scale for our countries to be powered out of chronic dependency on commodities. We must power Africa’s next phase of development, by targeting and prioritizing growth of our manufacturing, industries and services. And power is the fulcrum that will make this happen,” he said.

Elumelu revealed that while there is an abundance of private capital available to be deployed to develop the African power sector, government must play its part in attracting these investments.

He explained, “While there is huge private capital – local and global – seeking investment destinations, as we know, global private capital goes to where it is most welcome. Therefore, the challenge before African governments should be how to ensure they create the environment that will attract and retain these investments in our continent.”

To the foreign investors gathered at the forum, he advised, “Though there are challenges in investing in Africa, these challenges can be overcome by investing in Africa through partnerships with qualified local partners who possess the right knowledge, requisite capital and technical know how.”

Speaking further, Elumelu urged private and public sector stakeholders to work together in what he describes as “Shared Purpose”.

“It is critical for the public and private sectors to work together in “SHARED PURPOSE”, which is a key tenet of Africapitalism – the economic philosophy I espouse which calls for the private sector to play a key role in Africa’s social and economic development by investing in strategic sectors for both economic profit and social prosperity.”

Elumelu, who is also co-chair of the African Energy Leaders Group (AELG), a community of African energy leaders including Presidents and leading corporates, concluded his remarks by examining the role of power in creating opportunities for Africa’s jobless youth.

“In the 21st century, the level of poverty we have in Africa and the dire youth unemployment, to a large extent, can be solved by improving access to power, and by extension other infrastructure deficiencies and deficits. Even though we are making progress, there is still a lot to be done. We need faster progress.”


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Experts Reveal a Steady Decline of High-severity Incidents Over the Years

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According to the ‘Anatomy of a Cyber World: Global Report by Kaspersky Security Services’, there has been a noticeable decline in the percentage of high-severity incidents over the past few years.

While 2021 recorded the highest proportion at 14.3%, 2025 experienced the lowest in six years at just 3.8%. This trend indicates that many attack attempts were quickly detected and effectively mitigated by Kaspersky MDR experts, preventing their severity from escalating beyond medium levels.

High-severity incidents are defined as attacks involving direct human involvement that result in a significant impact on the customer’s IT infrastructure. In 2025, the number of such incidents detected by Kaspersky MDR decreased by 19% compared to 2024, highlighting improvements in early detection capabilities and more effective remediation efforts among Kaspersky MDR clients.

A detailed analysis of the root causes of these incidents in 2025 reveals the following insights:

Human-driven attacks accounted for approximately 23% of high-severity incidents. Although this represents a slight decrease from 2024, they continue to be the primary cause of serious breaches.

Kaspersky detected such attacks in nearly 21% of customers, demonstrating that motivated adversaries persist in bypassing automated defences. Despite advancements in automated detection tools, these highly skilled attackers still find ways to evade security measures.

Confirmed cyber exercises like Red Teaming made up over 23% of incidents. When activity is verified as part of security testing, it’s often classified as infrastructure false positives, though customers frequently report them as incidents.

Social engineering ranked third, responsible for over 15% of high-severity attacks and affecting nearly 18% of organisations. These are classified as high-severity when successful and not automatically remediated, often leading to security awareness recommendations.

Security policy violations constituted just under 14% of all cases, involving legitimate accounts performing suspicious actions like data exfiltration. Malware incidents represented less than 12%, while artifacts from past attacks, or APT traces, were found in over 7% of cases. Vulnerability detection, though not core focus for Kaspersky MDR, was reported in fewer than 5% of incidents.

“The decline in high-severity incidents highlights the critical importance of adopting a proactive cybersecurity strategy. Human-led solutions such as Managed Detection and Response (MDR) and Incident Response remain essential in combating sophisticated, human-driven threats.

To further enhance the effectiveness and efficiency of in-house security teams, organisations should incorporate advanced, automated solutions like Extended Detection and Response (XDR), which provide improved visibility and enable faster responses.

Additionally, leveraging SOC consulting services can assist in building a robust Security Operations Center from the ground up or optimising an existing one for maximum performance.

An integrated approach to hybrid security operations empowers organisations to detect threats early, contain them swiftly, and ultimately prevent severe breaches from occurring,” comments Sergey Soldatov, Head of Security Operations at Kaspersky.

 

 

 

 

 


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Google, UpSkill Universe Relaunch Hustle Academy to Bring Free AI Skills to Africans

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Google and UpSkill Universe, Sub-Saharan Africa’s leading AI and business skills training partner, have announced a major redesign of the Google Hustle Academy programme.

For the first time, the free training initiative is open to everyone, not just business owners. The new curriculum is focused on equipping individuals and entrepreneurs with practical AI skills.

Small businesses are the engine of Africa’s economy, creating over 80% of jobs on the continent. To help them grow, the Hustle Academy was launched in 2022, providing bootcamp-style training on business strategy, digital skills, AI, and leadership. The program has since trained over 18,000 SMEs, with many reporting increased revenue and job creation.

Now, as AI reshapes the job market, the program is evolving. The 2026 edition is built for anyone in Sub-Saharan Africa, including employees, students, and jobseekers, who wants to use AI to advance their career.

To meet the needs of a diverse audience, the new format includes short, 60-minute webinars and more immersive, high-impact bootcamps. These sessions are laser-focused on putting AI to work immediately in areas like digital commerce, marketing, and growth strategy.

Speaking about the academy, Gori Yahaya, Founder & CEO UpSkill Universe said “The 2026 Hustle Academy is designed to close the AI Skills gap with hands-on training that is short, focused, and immediately useful. AI is reshaping how businesses win and how careers are built, right across this continent.

“We’re excited to renew our partnership, now in its fifth year with Google, combining their global AI leadership with our deep regional AI expertise. The next wave of AI leaders will come from this continent. We are making sure they are ready.”

The Hustle Academy initiative has strengthened digital competitiveness across emerging African economies by enabling SMEs to move beyond AI awareness to practical implementation, positioning them for sustained growth in an increasingly AI-driven business environment.

“We believe that the future of Africa’s digital economy lies in the hands of individuals and entrepreneurs alike. Our new strategy focuses on scaling reach by training individuals in the latest AI-centered tools and techniques,” said a Google representative.

 


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Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

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Lagos State has dragged 45 individuals and firms, including Bi-Courtney Aviation, DAAR Communications and Leaders & Company, to revenue court for tax debts running into billions of naira.

Lagos Govt Drags Top Firms to Court Over Billion-Naira Tax Debts

Lagos Govt

Bi-Courtney, operators of Murtala Muhammed Airport Terminal Two, faces N38.7 million claim; DAAR, behind Africa Independent Television, owes N22.4 million; ThisDay publishers Leaders & Company allegedly skip N67.1 million.

GMT Energy Resources tops corporates at N145.8 million, followed by Sheriff Deputies at N132.1 million; others like Heyden Petroleum, AA Rescue, BRT operator Primero also listed.

Individuals owe N13.5 million to N35 million each.

Attorney-General Lawal Pedro said suits followed ignored notices, aiming to enforce laws and fund infrastructure.

More defendants: IENG Nigeria, James Fisher, V Care Diagnostics, Venture Garden, Saro Africa, Barry Callebaut, Native Media, First Consulting, Eyowo Payments.

Compliant taxpayers post-notice escaped prosecution; defaulters risk penalties, interest, jail.

Pedro urged prompt filings and payments.


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