E-Business
Rensource Secures $20m in Series A financing to Power Nigerian SME Productivity
Rensource, a company that provides energy and tech-enabled value services today announced the completion of a $20 million equity financing round. The round was co-led by existing investors CRE Venture Capital and the Omidyar Network, with participation from Inspired Evolution, Proparco, EDPR, I&P, Sin Capital, and Yuzura Honda.
The funds will be used to expand the company’s footprint of microutilities across Nigeria, as well as invest in additional technology infrastructure, as it rolls out new tech-enabled products and services for its merchants.
Nigeria, Africa’s most populous country, only has 12 gigawatts of installed grid capacity, with just one-in-four Nigerians connected to the national power grid. In contrast, South Africa has 50 gigawatts. Rensource launched commercially in 2016 to address this problem.
Founded by Ademola Adesina and Jussi Savukoski, it is bridging Nigeria’s power deficit through the delivery of renewable based decentralized energy, focusing primarily on SMEs.
Operating in seven clusters across six states in Nigeria (Lagos, Kano, Ogun, Ondo, Oyo and Edo), the company builds and operates solar hybrid microutilities – a type of energy services provider that localizes energy generation, distribution, and customer service to each community it serves. The company is active in marketplaces that serve over thirty-thousand SMEs. It expects to expand into 100 markets in the country over the next three years.
With the financing secured, Rensource is now expanding its offering beyond energy and entering Nigeria’s nascent offline to online (O2O) space, by offering technology enabled value added services to SMEs in the marketplaces it provides power for. With the launch of this new B2B platform, “Spaces O2O”, merchants will be able to access services that accelerate their productivity growth.
Speaking on the news Ademola Adesina, Founder and CEO of Rensource said, “We believe that simultaneously greening and decentralizing its power infrastructure is the only way to navigate Nigeria out of its current state of energy poverty. Pursuing this with a focus on the millions of small-businesses that drive our economy creates a massive multiplier effect whose benefit accrues to all.
He goes on to add, “Our push into O2O is a natural step that leverages our existing infrastructure to further empower the merchants we serve. We aim to bring connect over one-million merchants in the next 5 years.
As Rensource has grown a leading foothold in the Nigerian market, it has identified gaps in the distribution value chain regarding lack of access to credit, expensive transportation and warehousing, inaccurate data and limited product availability, underpinned by a highly fragmented and multi-layered value chain.
Rensource has historically worked with a variety of stakeholders including community associations, government, regulatory agencies, contractors, and private investors, to build renewable energy projects across Nigeria.
In 2018, the company, through a collaboration with the federal government’s Rural Electrification Agency, developed a project in Sabon Gari Market in Kano which resulted in thousands of merchants connecting to Nigeria’s first solar microutility. This first project was followed up by several other as part of the Energizing Economies Initiative (EEI).
Pardon Makumbe, Co-founder and Managing Partner of CRE Venture Capital, said, “Rensource’s goal is to offer solutions to the many challenges faced by SMEs in Nigeria, starting with power and expanding to other value-added services. It is a bold and worthwhile undertaking that is creating value for all stakeholders. We are excited to continue this journey with the hyper-competent team at the helm”
Jonathan Kirschner of Omidyar Network said, “Ademola is a true renewable energy revolutionary. We are thrilled to be working with Rensource to deploy affordable and innovative energy solutions to traditional retailers across Nigeria who desperately need it.”
Pan-African digital rights organisation Paradigm Initiative (PIN) has warned that violent extremist groups are increasingly exploiting digital platforms to recruit, radicalise and manipulate young people across the Sahel region.
The organisation raised the concern in a new policy brief titled “Digital Frontlines: Countering Online Radicalisation and Violent Extremist Narratives in the Sahel.”
According to the publication, extremist groups are shifting from traditional recruitment methods to digital platforms, including social media, encrypted messaging applications, short-form video platforms and online financial incentives, to target vulnerable populations.
PIN noted that unemployed youths and people facing insecurity and limited economic opportunities are particularly susceptible to online recruitment campaigns.
The organisation said that although governments have intensified efforts to combat violent extremism, responses to the digital dimension of the threat have failed to keep pace with rapidly evolving online tactics.
It argued that addressing online radicalisation requires more than surveillance and restrictive measures, recommending investments in digital literacy, stronger community resilience, improved early-warning systems and credible counter-narratives.
PIN also urged governments to work closely with technology companies and civil society organisations to disrupt extremist recruitment while protecting citizens’ digital rights.
The report further highlighted the growing convergence between organised crime and violent extremist groups, noting that online propaganda increasingly promises financial rewards, belonging and purpose to vulnerable young people.
According to the organisation, this trend underscores the need for policymakers to prioritise prevention alongside conventional security responses.
Speaking on the findings, Moussa Waly SENE, Programmes Officer for Francophone Africa at Paradigm Initiative, described the digital space as a new frontline in the fight against violent extremism.
“As more young Africans come online, stakeholders must ensure that digital platforms remain spaces for opportunity, innovation and civic participation, not recruitment grounds for violent extremist groups. Protecting digital rights and protecting vulnerable communities should be mutually reinforcing objectives,” he said.
Among its recommendations, the policy brief called for stronger regional cooperation to tackle cross-border online extremist networks, rights-respecting content moderation and greater accountability by digital platforms.
It also advocated expanded digital literacy programmes to strengthen resilience against online manipulation and community-led initiatives that empower young people to identify and reject extremist narratives.
The organisation further urged policymakers to develop security measures that balance national security objectives with the protection of privacy, freedom of expression and access to information.
E-Business
Kaspersky Reveals a New Malicious Framework Targeting Cryptocurrency Users with the Use of OkoSpyware
At its recent annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, Kaspersky Global Research and Analysis Team (GReAT) shared insights about the new OkoBot campaign targeting cryptocurrency users.
The new sophisticated framework employs TookPS to exfiltrate seed phrases and uses a new OkoSpyware module to monitor Chromium-based browsers and deploy various malware strains, including the Rilide stealer.
It has already targeted hundreds of victims across over 25 countries, with the highest number of affected end users recorded in Brazil, Vietnam, Canada, Mexico and Turkiye. According to Kaspersky experts, the threat remains active and primarily poses a risk to cryptocurrency users.
In January 2026, experts from the Kaspersky Global Research and Analysis Team (GReAT) identified multiple attacks involving a previously unknown malware capable of capturing the contents of cryptocurrency wallet windows. Dubbed Okobot, the new sophisticated malware framework comprises more than 20 malicious payloads and implants designed to perform a wide range of functions, including collecting local files, executing remote commands, downloading arbitrary browser extensions, stealing cryptocurrency wallets, harvesting seed phrases and credentials, recording video and carrying out other malicious activities.
One of the new implants used in the campaign is a loader that modifies browser memory to load and hide malicious extensions. OkoBot also includes a new OkoSpyware module, which captures keystrokes and the video stream of a target application’s window.
Currently available information does not allow the campaign to be attributed to any known crimeware actor with high confidence. However, the techniques and infostealer involved are widely used by Russian-speaking threat actors, and technical analysis has also revealed code artifacts in Russian.
The initial infection typically occurs through two main vectors: ClickFix attacks, in which threat actors use social engineering to trick users into running malicious code, and malware distributed via GitHub under the guise of legitimate software. During the investigation, researchers identified one such case involving a fake installer for SQL Server Management Studio (SSMS), a widely used Microsoft database management tool.
The malicious framework includes SeedHunter, a malware component that monitors active system processes and injects an implant into Trezor Suite, Ledger Wallet, and Ledger Live, – official applications used to manage cryptocurrency assets. When it detects a connected Trezor or Ledger hardware wallet, it triggers the hooked functions to display a hard-coded phishing page aimed at stealing the user’s seed phrase, using a distinct layout for each wallet type.
“The OkoBot campaign has been active for more than a year and remained ongoing as of July 2026. The observed infection vectors strongly suggest that developers are among its primary targets. Of particular concern is the malware’s continued evolution, which indicates that the framework is being actively maintained. As distribution efforts persist, the campaign has the potential to reach more users and expand into additional countries in the near term,” says Dmitry Galov, Head of the Russia and CIS unit at Kaspersky Global Research and Analysis Team.
Afri Invoice, one of Nigeria’s leading accredited e-invoicing service providers, has announced plans to recruit more than 100 professionals nationwide to strengthen support for the Nigeria Revenue Service’s (NRS) mandatory e-invoicing compliance programme.
The recruitment campaign, is aimed at expanding the company’s workforce to meet the growing demand for digital tax infrastructure and help businesses transition smoothly to the country’s evolving e-invoicing regime.
According to the company, the new positions will be spread across Nigeria’s six geopolitical zones to ensure businesses receive timely, localised support as they adapt to the new tax compliance framework.
The vacancies cut across several key departments, including Information Technology (IT), Marketing and Digital Marketing, Audit, Legal, Human Resources and multi-site office operations.
Afri Invoice said applicants are expected to possess relevant professional experience, particularly in managing operations across multiple locations and supporting organisational growth.
The company explained that the latest recruitment drive builds on a similar exercise conducted last year, which significantly expanded its operational reach and increased its capacity to onboard clients nationwide.
With the NRS intensifying the implementation of mandatory e-invoicing, Afri Invoice said it is investing in additional manpower to ensure uninterrupted service delivery, efficient client onboarding and expert technical support for businesses of all sizes.
Speaking on the expansion, the Founder and Chief Executive Officer of Afri Invoice, Mark Odenore, said the company remains committed to helping Nigerian businesses comply with the new tax regulations through innovative technology and professional support.
“As the national drive toward comprehensive e-invoicing gathers momentum under the Nigeria Revenue Service, our mission is to ensure that Nigerian businesses have a reliable, accredited partner to navigate this transition effortlessly,” Odenore said.
He added that recruiting more than 100 professionals across the country’s geopolitical zones would significantly strengthen the company’s ability to provide quality technology solutions and customer support nationwide.
Interested and qualified candidates have been encouraged to submit their applications through Afri Invoice’s official careers portal.
Afri Invoice is an accredited e-invoicing service provider that offers digital solutions designed to simplify financial processes, improve tax transparency and support businesses in complying with national tax regulations while enhancing supply chain and financial management.
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