E-Business
Nigeria Excluded, Finance Sector Spurs Mobility, Analytics Investments

IT spending by financial institutions in the big four markets of the Middle East and Africa (MEA), Saudi Arabia, South Africa, the UAE, and Turkey, is set for strong year-on-year growth of 10.8% in 2014, according to the latest insights from global advisory services firm International Data Corporation (IDC).
Spurred by investments in the emerging 3rd Platform technologies, total IT spending in this space is set to reach $4.3 billion in 2014.
“The finance sector has always driven the innovative use of ICT technologies across other verticals,” said Jebin George, a senior research analyst for vertical markets at IDC Middle East, Turkey, and Africa. “This drive for innovation through IT remains the top priority for CIOs in the sector and is resulting in strong investment in 3rd Platform technologies like Big Data analytics, cloud, and mobility as CIOs increasingly realize the transformative capabilities of these solutions on the way business is conducted.”
More than one-third of the MEA finance sector CIOs who took part in IDC’s Annual Middle East and Africa CIO Survey 2014 indicated that they have plans to invest in various 3rd Platform technologies over the next two years, with enterprise mobility, Big Data and analytics, and private cloud computing proving the most popular.
However, concerns over security are also growing, with the majority of the respondents considering all 3rd Platform technologies to be difficult to secure.
Such concerns will only serve to buoy IT-related investments by financial institutions in the region’s big four economies, with IDC expecting IT spending by banking, insurance, and securities and investment services firms in Saudi Arabia, South Africa, the UAE, and Turkey to increase at a compound annual growth rate (CAGR) of 8.0% over the next five years to total $5.7 billion in 2018.
IDC recently released two research reports outlining the IT spending and investment plans of financial institutions in the MEA region.
The ‘Middle East and Africa Finance Vertical 2013–2018 IT Spending Guide’ (IDC #CEMA21508, September 2014) provides a detailed overview of IT spending during the 2013–2018 period for the three finance sub-verticals of banking, insurance, and securities and investment services across nine technology categories and four countries.
The second research document, ‘Middle East and Africa Finance Sector 3rd-Platform Technology Adoption and Investment Plans’ (IDC #CEMA21496, September 2014), highlights the emerging strategic initiatives and technology priorities of the MEA finance sector, and focuses in particular on the current adoption trends and future deployment plans for 3rd Platform technologies – namely enterprise mobility, Big Data and analytics, cloud computing, and social media.
E-Business
Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.
According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.
In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.
The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.
Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.
“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.
The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).
The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.
Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.
Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”
E-Business
Half of Global Companies Build SOCs to Enhance Cybersecurity, with a Focus on Human Expertise

Among the primary reasons for establishing a Security Operations Center (SOC) are strengthening cybersecurity posture, enabling faster detection and response and gaining a competitive edge.

Interestingly, despite the increasing demand for automated cybersecurity solutions, businesses rely on skilled security professionals to make key decisions, as human expertise remains essential for effective security management.
A Security Operations Center (SOC) is a dedicated organisational unit responsible for continuous monitoring and safeguarding of a company’s IT infrastructure. Its core mission is to proactively detect, analyse and respond to cybersecurity threats.
To identify the main drivers, strategic priorities, and potential challenges in SOC planning and implementation, Kaspersky has conducted a comprehensive global study involving senior IT security specialists, managers and directors from companies with 500 or more employees.
All participants operate without a SOC but have plans to establish one in the near future. The study spans 16 countries across APAC, META, LATAM, Europe, and Russia, providing valuable insights into the emerging trends and best practices in SOC development worldwide.
The findings of the research reveal that 50% of companies intend to establish SOCs to strengthen their cybersecurity posture, and 45% are motivated by the need to address increasingly sophisticated and dangerous threats.
Other drivers include budget optimisation, the necessity for faster detection and response, and the expansion of software, endpoints and user devices – factors that demand more comprehensive and layered security measures.
These are cited by 41% of organisations. Additionally, 40% seek better protection of confidential information, 39% aim to meet regulatory requirements and one-third (33%) expect SOC capabilities to provide a competitive edge. Larger enterprises tend to cite each of these reasons more often, reflecting the broader operational and regulatory pressures they experience.
Continuous monitoring becomes the leading SOC requirement
Among the key functions organisations plan to delegate, 24/7 security monitoring leads at 54%. This around-the-clock vigilance enables early detection of anomalies, prevents escalation and sustains cyber resilience in real-time. This demand highlights a strategic requirement for proactive risk management, as organisations aim to defend against persistent threats that can strike at any moment.
Companies intending to fully outsource SOC operations show a stronger interest in applying “lessons learned” methodologies, whereas those developing internal SOCs focus more on access management to maintain tighter control.
Human expertise drives SOC technology choices
While SOCs use advanced technology, the choices made by organisations show that human analysts are very important. Among the solutions that organisations plan to include in SOC are – Threat Intelligence Platforms (48%), Endpoint Detection and Response (42%) and Security Information and Event Management systems (40%) – sophisticated solutions that automate data collection and reduce operational load, however, they depend heavily on skilled security professionals who provide critical context, interpret complex findings and make final decisions when guiding appropriate responses.
Other solutions chosen include Extended Detection and Response (38%), Network Detection and Response (37%) and Managed Detection and Response (33%). Large enterprises tend to adopt more technologies (5.5 per SOC on average), while smaller ones integrate fewer (3.8).
“To successfully build a SOC, companies must prioritise not only the right mix of technology but also the careful planning of processes, clear goal-setting and effective resource distribution.
“Well-defined workflows and continuous improvement are essential to ensure that human analysts can focus on critical tasks, making the SOC a proactive and adaptable component of their cybersecurity strategy,” comments Roman Nazarov, Head of SOC Consulting at Kaspersky.
E-Business
Nigerian Terra Industries Secures $11.8m for Expansion

Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.
Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.
Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.
The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.
Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.
He said safeguarding critical infrastructure from terrorist threats has become unavoidable.
Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.
The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.
Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.
With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.
While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.
E-Financial2 days agoSEC Hikes Minimum Capital Requirements for Market Operators After a Decade
Telecom2 days agoVodacom Crowned Africa’s Top Employer 3rd Year Running on Innovation, Ethical AI
Telecom2 days agoStudy Shows Blocks in Telegram are Pushing the Underground Out
News2 days agoNigeria Off EU High-Risk Money Laundering List in Major Financial Win
News2 days agoNGX Unveils Net-Zero Plan for Greener Capital Market
Telecom2 days agoGalaxy Backbone Marks Two Decades of Powering Nigeria’s Digital Evolution
Telecom2 days agoGalaxy Backbone Marks 20 Years, Tops FG Website Scorecard
News4 hours agoICPC Charges Ozekhome with Forgery, Corruption Over London Property











