E-Business
Innovate Africa Launches with $2.5M Angel Fund for Early-Stage Africa-Focused Startups

Innovate Africa, an angel investment fund that supports early-stage founders in funding life-changing ideas, taking startups from conception to product and financing innovative ventures, has launched with an initial $2.5 million rollout.

Co-founded by Kristin Wilson and Christian Idiodi, the sector-agnostic fund aims to support up to 20 startups in its first year to solve complex, recognised problems such as insecurity, unemployment, and poverty with purpose-driven technology.
Since 2019, the African funding landscape has witnessed positive growth, with disclosed exits surpassing $2.3 billion – representing a significant 13.4% of the total $17.2 billion raised by African startups. Despite this growth, early-stage founders face challenges navigating the path from ideation to market fit.
The persistent lack of early-stage funding further compounds these difficulties, hindering many startups from reaching their full potential and contributing to the continent’s economic growth.
With a mission to empower startups to thrive in Africa’s ever-evolving tech landscape, Innovate Africa Fund will provide insight-driven capital that helps founders accelerate the journey from Minimum Viable Product (MVP) to Product-Market Fit (PMF).
The goal is to facilitate the infrastructure that enables founders to unlock growth through audacious problem-solving, supported by access to a comprehensive ecosystem of resources.
With an average investment of $50,000, the venture fund offers a comprehensive support package designed to propel promising startups towards success.
The robust suite of critical advisory resources includes expert guidance in finance, governance, public relations, and strategy, ensuring a solid foundation for growth. Through its Product Leadership Accelerator, the fund delivers crucial product development support, helping startups refine their offerings and achieve product-market fit.
It also facilitates talent resourcing via an extensive partner network, connecting startups with skilled professionals across various domains. The fund’s portfolio strategy encompasses first cheque funding, a refined product operating model, valuable network and partnerships, assistance with revenue model iterations, and comprehensive operations and governance advisory.
This holistic approach aims to accelerate startups’ path to success, providing them with the tools, resources, and connections needed to navigate early-stage challenges and achieve sustainable growth.
Innovate Africa Fund is anchored by a network of experienced operators and product specialists across Africa, providing a vigorous foundation of knowledge and experience to guide early-stage founders towards success.
Managing Partner, Kristin is also the Chief Strategy Officer at Spurt!, a Venture Partner at Oui Capital, an Investment Lead for the Rising Tide Africa Angel Network and a General Partner at the Bold Angel Fund.
She has a portfolio of 34 African startups including 26 tech startups such as Hoaq, Clafiya, Shuttlers and OmniRetail–recognised as 2024’s Africa’s Fastest Growing Company by the Financial Times. Kristin’s portfolio companies have generated over $100m in revenue and collectively serve over 100,000 users.
Complimenting Kristin’s expertise is Christian, Founder of Firtsi and Work Nigeria. A world-renowned product expert, Christian is a partner at the Silicon Valley Product Group (SVPG), and helps companies transform the way they work to create products customers love and brings immense value to the business.
He is co-author of INSPIRED, EMPOWERED, LOVED and TRANSFORMED–New York Times Best-Selling books that have shaped product management globally. He has shaped companies like Amazon and Merrill Corporation, and tackled complex product challenges for industry giants like Microsoft, Interswitch, and Squarespace.
His extensive background in enterprise and consumer products has helped scale businesses from the ground up. His track record includes successfully founding over two dozen companies worldwide.
Speaking about the launch of the Fund, Kristin Wilson, Managing Partner of Innovate Africa Fund said: “Having witnessed the struggles that early-stage African founders face up close, we know that brilliant ideas often lack the resources they need to truly thrive.
“It’s not just about funding, it’s about deep expertise and strong connections–and our investment strategy breaks the cycle of innovators being at the mercy of those with too much leverage and too little knowledge.
“As a founder-first catalyst fund, we provide insight-driven capital to help founders accelerate their journey from MVP to PMF. By providing this support and funding, innovators can focus their efforts on building sustainable, transformative businesses that solve wicked problems and return value to investors”
“Through the Innovate ecosystem, we connect our portfolio companies with seasoned operators and advisors, both in Africa and globally, to ensure they get the expertise they need,” says Christian Idiodi, Founder of Innovate Africa Foundation. “The African diaspora has sent over $150 billion back to the continent in the past three years, but financial support alone isn’t enough.
“Many are eager to contribute their talent and expertise to impactful ventures, and that’s where we come in. It takes an ecosystem to build a startup. By reaching founders at a very early stage, we can connect them to key partners and help foster their success. Ultimately, our decisions today will shape who builds, owns, and benefits from the next wave of disruptive technology in emerging markets.”
E-Business
Firm Discovered a New Corporate Phishing Technique using a Popular AI Web Development Platform

Kaspersky has discovered that attackers have begun exploiting another legitimate service for malicious purposes – this time it is Tencent EdgeOne Pages, a platform for creating and hosting web applications.

Attackers are misusing its capabilities to generate phishing emails targeting corporate users. Previously Kaspersky has described similar attacks leveraging Google services and web applications generated by Bubble, an AI-powered app builder, to hunt for corporate credentials.
Employees across multiple industries including the industrial sector, sales, and government are among the targets. The goal of the attack is to steal login credentials for corporate resources. Over the past 30 days, the company’s experts have detected more than 8,000 phishing emails using this tactic, including messages in English, Korean, and Russian.
The Tencent EdgeOne Pages service is positioned as a platform for quickly creating and deploying web applications using AI. Scammers misuse it to generate and publish phishing pages in minutes with virtually no web development skills.
Attackers host phishing pages on EdgeOne’s legitimate cloud infrastructure and use trusted domains. As a result, such sites appear to be established and secure to many protective solutions, complicating the detection of such attacks.
How the attack begins
The user receives an email from the alleged “corporate email support team”. The message states that the account login credentials will expire in 48 hours, and that failure to update them may result in problems receiving or sending emails.
To avoid restrictions, the user is prompted to click a link and enter relevant information. Phishing emails are not limited to this narrative, and could deliver any corporate message, such as a message from the HR department or a notification of a received document that should be downloaded.
Clicking the link in the email opens a page with a form for entering the victim’s name, email address, and password. It is a simple design, with virtually no additional elements.
After the user enters their login and password, the data is transferred to a server controlled by the attackers.
“We are seeing a continuation of the trend in which attackers use AI and no-code platforms as part of their phishing infrastructure. We’ve previously observed a similar scheme using the Bubble platform, and here we have yet another example.
“While the communication used in these phishing attacks is typical and has been used before multiple times, the attack technique itself significantly lowers the barrier to entry for attackers and accelerates the creation of phishing resources.
“Previously this required at least basic web development skills, but now an infrastructure for fraudulent emails can be created in minutes,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.
E-Business
Kaspersky Report Shows Early 2026 Witnessed an Increase in Cyberattacks on the Manufacturing Sector

According to a new Kaspersky ICS CERT report, in Q1 2026 the percentage of industrial control systems (ICS) on which malicious objects were blocked reached 19.6% globally. Kaspersky security solutions blocked malware from 10,052 different malware families of various categories on industrial automation systems.

Regionally, the share of ICS computers that were attacked ranged from 27.4% in Africa to 9.1% in Northern Europe. Compared to the previous quarter, attacks on the manufacturing sector in Q1 increased in multiple regions, including in Europe and Asia.
Regional split
In terms of overall numbers across all industry sectors, five regions saw an increase in the share of attacked ICS computers in Q1 2026 compared to the previous quarter. These were Southern Europe, Russia, Northern Europe, Canada and Africa.
Industries
In Q1, biometric systems traditionally placed first in terms of the share of ICS computers on which malicious objects were blocked, at 26.4%. These systems commonly have Internet access, are used for email, and, in many cases, have minimal cybersecurity controls within the organisations that use these systems.
Regionally, Southern Europe leads the ranking based on the percentage figures for biometric systems, at 35.15%. Africa follows at 29.58%, and Central Asia comes in third at 28.53%.
In the manufacturing industry, Southeast Asia ranks first among regions in terms of the percentage of ICS computers attacked (23.21%), followed by Africa (21.36%) and South Asia (20.13%).
In 2025, Kaspersky and VDC Research estimated that in just the first three quarters of 2025 cyberattacks on manufacturing organisations via ransomware could have generated over $18 billion globally in losses. Actual business losses could have been even higher when factoring in supply-chain disruptions, reputational damage, and recovery expenses.
“Legacy operational technology systems remain deeply embedded in manufacturing environments, which makes them vulnerable. Supply chain complexity and branching of the trusted partner network expands the attack surface beyond the network perimeter.
Attackers are realising that targeting OT assets of an industrial enterprise is not rocket science, which is why factory shutdowns bring massive financial losses,” commented Evgeny Goncharov, Head of Kaspersky ICS CERT.
E-Business
NDPC, Meta Launch 2-Year M-SIDP after Regulatory Settlement

Nigeria Data Protection Commission (NDPC) has launched the Meta-Supported Initiatives for Data Protection (M-SIDP), a strategic programme aimed at strengthening data privacy awareness, regulatory compliance and institutional capacity across Nigeria’s digital ecosystem.

The initiative follows the conclusion of regulatory proceedings involving Meta Platforms Inc., the parent company of Facebook, Instagram and WhatsApp, over concerns relating to the processing of personal data belonging to Nigerian users. The matter was resolved in 2025 through a court-approved settlement.
Under the agreement, Meta committed to supporting a two-year programme of public-facing data protection measures designed to advance the objectives of the Nigeria Data Protection Act (NDP Act) 2023, the General Application and Implementation Directive (GAID), and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.
Announcing the initiative, the Commission said the programme would strengthen safeguards for data subjects while promoting responsible data processing practices among organisations operating in Nigeria.
According to a statement signed by Itunu Dosekun, head of the NDPC Media Unit, the programme will focus on governance, research and development, safety and sustainability mechanisms for technology ecosystems, capacity building for Data Protection Officers (DPOs) and Data Protection Compliance Organisations (DPCOs), as well as public awareness campaigns targeted at vulnerable groups.
The Commission stated, “As part of the settlement, Meta committed to supporting a two-year programme of public-facing data protection measures that aligns with the objectives of the Nigeria Data Protection Act, 2023 (NDP Act), the NDP Act General Application and Implementation Directive (GAID) and the NDPC Strategic Roadmap and Action Plan (SRAP) 2023–2027.”
The NDPC stressed that the settlement does not limit its regulatory authority.
“Nothing in this settlement limits the Commission’s independent statutory powers as we continue to exercise our regulatory mandate in relation to data processing activities in Nigeria, in accordance with the NDP Act and other applicable laws,” it stated.
The development comes amid rising global scrutiny of technology companies over data privacy practices, with regulators in regions including the European Union and the United States tightening enforcement against breaches and non-compliance.
Nigeria has also intensified efforts to strengthen its privacy framework following the enactment of the Nigeria Data Protection Act in 2023, which established the NDPC as an independent regulator empowered to monitor compliance, investigate violations and impose sanctions.
Industry experts warn that increasing digital adoption across banking, telecommunications, e-commerce, healthcare and public services has heightened risks of identity theft, cybercrime and unauthorised data sharing.
The NDPC has in recent years stepped up enforcement actions against organisations that violate data protection rules, while also expanding accreditation for Data Protection Compliance Organisations and training for privacy professionals.
The Meta-supported initiative is expected to address gaps in public awareness and technical capacity, while also supporting research and policy development on emerging issues such as artificial intelligence, cross-border data transfers and platform governance.
The Commission said it would provide periodic updates on the implementation of the programme and called on stakeholders to support efforts to build a secure, transparent and accountable privacy ecosystem in Nigeria.
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