E-Business
Payhippo Raises $3m in Seed Funding to Accelerate SME Lending

Payhippo, a lending startup that is widening credit access for small businesses in Nigeria, announced today that it raised $3 million in seed funding.

The round was led by influential African fintech founders and financial leaders Ham Serunjogi and Maijid Moujaled, co-founders Chipper Cash, Olugbenga “GB” Agboola, founder Flutterwave, Bolaji Balogun, CEO Chapel Hill Denham, and Hakeem Belo-Osagie, Founder Metis Capital Partners.
Other angel investors include management from Paystack, Brex, and Tala and several LPs from Payhippo’s preseed investors. Institutional investors include TEN13, VentureSouq, and Prodigio Capital.
A Y Combinator Summer 2021 cohort, Payhippo was founded in August 2019 by three co-founders, Zach Bijesse, CEO, Chioma Okotcha, COO, and Uche Nnadi, CTO. Having worked in fintech and lending organisations in Nigeria, the team had the vision to create an innovative lending product for small businesses in Africa.
Payhippo provides small businesses with access to credit in less than three hours; with instant financing, business owners can make investments needed for growth.
To date, Payhippo has disbursed 5000 loans to small businesses across Nigeria. In September 2021, the company earned $64,000 in revenue from $900K disbursed, experiencing 25% monthly growth with a 97 per cent repayment rate on loans.
Small businesses play a significant role in most economies and contribute to job creation and global economic development. In Nigeria, small businesses account for 96 per cent of companies, 84 per cent of employment, and 48 per cent of the national GDP. There are 40 million small businesses in Nigeria, and only a few have access to formal financing.
This is a significant issue because, without working capital, companies are unable to invest and grow. Most small businesses are creditworthy; however, accessing credit is challenging because they do not have credit scores.
Traditional lenders’ collateral requirements are too high. For those businesses that get through the process, it can take up to three months to receive the funds.
Payhippo is driving financial inclusion for small businesses by creating accessibility to financing. A business can apply for a loan through the company’s online platform by providing their business information. Through their backend technology system, the firm uses KYC checks to verify the business’s cash flow data, business owner data, and industry data – all within a few minutes. In a couple of hours, the company receives its loan.
Payhippo provides small businesses with short-term working capital with average loan amounts of $1300 and allows them to use the principal amount during the entire tenor, using the money to run their businesses entirely.
Businesses then repay the whole loan at the end of the loan period. Small companies can then build their Payhippo score based on their track record – by repaying their loans on time, they become eligible for higher amounts of capital.
Chioma Okotcha, co-founder and COO, Payhippo, said: “The funding will allow us to invest in hiring more engineers and data scientists.
“We aim to improve our technology and enhance our lending offerings as we continue to address the persistent financing gap for small businesses in Nigeria.
“At Payhippo, our vision is to provide millions of small businesses with sufficient and available capital to run and grow their businesses.”
Ham Serunjogi, co-founder and CEO of Chipper Cash, said: “New financial technologies are being developed and implemented changing the competitive landscape in the financial sector in Africa.
“Access to credit is a critical necessity for small businesses to manage their daily challenges.
“Payhippo helps address this need through its innovative approach that provides loans to small businesses in less than three hours enabling them to have access to sufficient working capital to grow.”
E-Business
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials

Kaspersky has uncovered a new phishing scheme that abuses legitimate Google Tasks notifications to trick corporate users into revealing corporate login credentials.

By leveraging Google’s trusted @google.com email domain and notification system, attackers bypass traditional email security filters and exploit users’ trust in familiar services.
In this campaign, victims receive an authentic-looking notification from Google Tasks with the subject line “You have a new task.” The message creates the illusion that the recipient’s company has adopted Google’s task management tool, pressuring them to act quickly. The notification often includes elements of urgency, such as a high-priority flag and a tight deadline, to prompt the victim’s immediate response.
Upon clicking the embedded link, users are directed to a fraudulent form disguised as an “employee verification” page, where they are asked to enter their corporate credentials under the pretense of confirming their status. These stolen credentials can then be used for unauthorised access to company systems, data theft, or further attacks.
“Google’s vast ecosystem of services gets exploited by scammers. The scheme with Google Tasks is part of a broader trend observed before and continuing into 2026, where cybercriminals misuse legitimate platforms to distribute scams and phishing.
Notifications originating from legitimate domains naturally evade many spam and phishing filters, while the social engineering aspect – making it seem like an internal company process – lowers the victim’s guard,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.
E-Business
esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa

Cyber adversaries targeting African organisations are increasingly shifting away from opportunistic attacks toward deliberate, sector-specific campaigns aimed at the continent’s most critical digital infrastructures, according to the esentry 2025 Annual Report released by esentry, Lagos-based Africa’s leading indigenous Managed Security Service Provider (MSSP).

The report identifies healthcare, financial services, and telecommunications as the primary staging grounds for high-velocity cyberattacks, reflecting a growing focus on sectors that underpin economic stability, public welfare, and digital connectivity across Africa.
The findings are drawn from one of the largest cybersecurity datasets analysed in the region. Over the course of 2025, esentry processed more than 31 billion security events, generating 3.5 million alerts and successfully blocking over 15,000 malicious attempts. This monitoring scale shows that, while traditional financial institutions remain a core target, the threat landscape has expanded to include digital lending platforms, healthcare systems that store sensitive personal data, and telecom operators responsible for national and regional connectivity.
Within the healthcare sector, the report highlights ransomware as the most acute risk, with attackers frequently exploiting exposed Remote Desktop Protocol (RDP) services to compromise patient data and disrupt essential medical operations. In financial services, organisations are facing a surge in credential abuse, insider-related threats, and info-stealer malware designed to enable fraud and unauthorised access. Telecommunications providers are increasingly targeted by highly tailored phishing campaigns and attacks on exposed web services, which aim to harvest credentials and compromise customer data.
Commenting on the findings, Gbolabo Awelewa, Chief Business Officer at esentry, said the nature of cyber threats across Africa has evolved significantly. “The threats we are seeing today are deliberate, informed, and carefully tailored to local enterprises. Attackers are exploiting trusted access and moving quietly within networks, which makes early detection critical. Our coordinated cybersecurity model, spanning Defence, Intelligence, Offence, and Security Engineering, allows us to combine scale, speed, and deep contextual insight to detect and neutralise threats before they escalate,” Awelewa said.
A defining trend identified in the report is the shift from overt system exploitation to the abuse of legitimate access. By leveraging compromised credentials and ‘living-off-the-land’ techniques, attackers can blend into routine enterprise operations and significantly delay detection. This approach has compressed the attack lifecycle, enabling adversaries to move from initial access to full operational impact in fewer than 15 days.
To counter this acceleration, the report emphasises the importance of early detection and automated response. esentry says it currently contains low-complexity incidents in under 90 seconds, using a combination of structured threat hunting and centralised telemetry to anticipate and absorb attacker pressure rather than reacting after damage has occurred.
As African organisations continue to digitise, the esentry 2025 Annual Report positions itself as a critical reference point for understanding the continent’s evolving cyber threat environment. The report concludes that protecting Africa’s digital trust will require a shift away from fragmented security tools toward disciplined, coordinated defence frameworks, what esentry describes as a unified Phalanx formation.
E-Business
AfDB, UNDP Launch $10Bn AI Initiative for Africa

The African Development Bank Group (AfDB) and the United Nations Development Programme (UNDP) have launched an ambitious $10 billion project to support the adoption of Artificial Intelligence (AI) across the continent.

The 10 Billion Initiative intends to accelerate ethical AI adoption and inclusive digital economic growth in Africa.
The initiative follows the Nairobi AI Forum, which took place earlier this month in Kenya and brought together governments, private sector leaders, development partners, and tech innovators to define pathways for impactful AI adoption.
According to the organisations, the strategy is a co-designed collaboration between the Bank Group, UNDP, and commercial partners that aims to raise up to $10 billion by 2035.
The resources will be used to create up to 40 million new jobs across the continent by 2035, through targeted investments that provide the groundwork for AI and accelerate widespread adoption in everything from entrepreneurship and regional data infrastructure to policy frameworks and skill development.
Nicholas Williams, AfDB Group ICT operations division manager, commented: “As a leading multilateral development institution, the bank is leveraging its comparative advantage to ensure Africa is not left behind in the AI era.
“The AI 10 Billion Initiative paves the way for expanded partnerships and sustained investments that will accelerate AI entrepreneurship, strengthen data and infrastructure ecosystems, and support inclusive growth across the continent.”
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