E-Business
Report shows Most Cyber Breaches are Caused by Human Error
Check Point® Software Technologies Ltd, a provider of cybersecurity solutions globally, marks Cybersecurity Awareness Month by highlighting the need for each and every individual to prioritise cybersecurity, in both their business and personal lives, in order to fend off the ever-increasing risk of cyberattack.
For companies, cyber risks are increasing all the time. In fact, according to Check Point Research (CPR), attacks increased by 59% compared to last year. Here in Africa, the weekly average of impacted organisations in 2022 is 1 out of 21, with an organisation on the continent being attacked on average 1,896 times per week in the last six months.
A recent World Economic Forum report revealed that 95% of cybersecurity problems are caused by human error, and if you add the global cyber skills shortage to the mix, then you have the perfect storm for a cybercriminal. The 2021 (ISC)² Cybersecurity Workforce Study showed that we are lacking almost three million cybersecurity professionals worldwide.
In light of this, some organisations have started to implement cyber initiatives for their employees. For example, Santander, a multinational financial services company, recently launched an incentive scheme whereby employee responses to phishing attacks are considered as part of the overall company bonus policy.
Check Point Software has also implemented various training initiatives to boost cybersecurity skills in the workforce across Africa. In Kenya, together with Strathmore University, Check Point SecureAcademy runs free training sessions with lecturers and students.
And since 2021 in Johannesburg, together with Get Informed and local partners, Check Point Software has been offering cybersecurity training courses and internships to under-privileged youth in the community.
Having people and staff that are well trained in cyber hygiene is one of the best foundations for good cybersecurity, and so, for Cybersecurity Awareness Month, Check Point Software provides some useful information to help companies identify attacks.
- Phishing: this is a technique that is often successful due to a lack of employee training. Often in the form of an email, it is when a cybercriminal will impersonate a colleague, company or institution to obtain personal data to then sell, use for identity theft or to launch further cyberattacks. It’s important to be careful when receiving emails, particularly any that include an unusual request. You should check the sender address is legitimate, check for grammar errors and any misspelled words, and don’t click on any unfamiliar links or open attachments.
- Malware: this is malicious software that is designed to harm a device or network. In order for it to be successful, the victim has to install such software on their computer, which is usually done by clicking on a malicious link that automatically installs it, but it can also enter through a file such as an image, document or video attachment. Again, it is crucial to be careful when receiving emails that contain links or files, and only download software from official stores.
- Ransomware: this is a type of malware attack that blocks access to systems unless a ransom is paid. For some time now, there has been double and even triple extortion ransomware, capable of blackmailing the victim’s customers too. Like malware, it usually enters a device through a link from a trusted company or a file downloaded to it. Therefore, it is very important not to download anything from an unknown user and utilise multi-factor authentication.
To avoid becoming a victim of phishing, malware and ransomware, Check Point recommends:
- Enabling two-factor authentication: sign into your accounts with both a password and one other method. It could be a question, biometric data or a one-time code sent to your device. This creates an extra layer of security that prevents an attacker from being able to access an account with just a password.
- Using strong passwords: using the same keyword for everything, or simple combinations such as ‘123456’ or ‘password’, is making it too easy for cybercriminals. There are now a multitude of platforms that can generate strong, difficult-to-guess passwords with upper- and lower-case letters, numbers and symbols. Although we can also create them ourselves, it’s important to remember to use different combinations for each service.
- Learning how to recognise phishing: when an attacker sends a phishing email, there are usually some common identifiable traits such as misspellings or the fact that it asks for credentials to be entered. A company will never ask for a customer’s credentials on email. If in doubt, always go to the official page or platform of the company you want to access.
- Always keeping software updated: it is always advisable to update to the latest version of a company’s software as this is the way that they correct security errors of previous versions.
“Cybersecurity Awareness Month is an important time to not only raise awareness of cyber-safety but to drive real action among individuals. Most cyberattacks occur because of human error so it is in our hands to improve cybersecurity, both at home and at work. This is an essential activity in which we all have a part to play,” says Pankaj Bhula, Regional Director for Africa at Check Point Software. “The term ‘If you are not part of the solution, you are part of the problem’ fits perfectly when it comes to cybersecurity and users.”
E-Business
Zequence Digital Boss Calls for Strong IP Laws Enforcement, to Protect Nigeria’s Software Sector
Mr Adeoye Oludamilola, managing director, Zequence Digital, a digital agency, has said strong enforcement of Intellectual Property (IP) laws , protection of Nigeria’s software industry against piracy will encourage innovation and investment.
Adeoye told reporters lately in Lagos that software piracy and the unauthorised use of proprietary technology are widespread in the country.
According to report Intellectual Property (IP) laws in software refers to the legal rights that protect the creations of the mind used in software development.
These rights, which include copyrights, patents, trade secrets, and trademarks, grant developers exclusive control over their software and related assets, preventing unauthorised use or reproduction.
Adeoye said that many startups do not protect their innovations, due to a lack of knowledge and the cumbersome legal processes involved.
“IP registration and litigation are expensive and time-consuming, which further discourages developers from protecting their work,” Adeoye said.
He added that the lack of awareness among developers about their IP rights contributed to the problem.
To address these challenges, Adeoye stressed the need for the formation of an IP Protection Consortium, comprising tech firms, legal experts, and regulators, to advocate for stronger IP enforcement.
He also suggested collaborating with legal tech startups to create simplified platforms for fast-tracked IP registration.
The managing director further called for joint initiatives between legal bodies and tech communities to launch IP rights education campaigns.
This, he said, would equip developers with the knowledge they needed to protect their innovations and grow their businesses.
Adeoye emphasised the need for the government and stakeholders to create an ecosystem for development and inclusivity by proactively engaging with regulators.
According to him, this will help ensure that policies are created with the input of concerned agencies and industry experts.
PalmPay, a leading fintech platform and full-stack digital neobank for emerging markets, has partnered with Nigeria’s biggest Health Insurance Company, AXA Mansard Health a member of the globally trusted AXA Group, to provide millions of Nigerians with affordable, accessible digital health insurance.
This strategic partnership enables PalmPay users to seamlessly access a range of health insurance packages from AXA Mansard directly within the PalmPay app. With plans starting as low as N500 per month, users can now choose from flexible insurance options tailored to fit their everyday needs.
The plans are designed to meet a wide range of needs; for example, the AXA Digital Health plan offers access to telemedicine consultations with doctors, N5,000 worth of medications, and up to N40,000 in surgical coverage. Users can also opt for the AXA Mansard MicroHealth plan at N1,000 per month, which provides unlimited diagnostic tests and funeral benefits. Additionally, the AXA Mansard Accident plan, available for N500 monthly, offers comprehensive death cover for both accidental and non-accidental cases.
Speaking on the partnership, Habib Kowontan, Head of Wealth Product at PalmPay, said: “Insurance is a key pillar of financial security, yet millions of Nigerians remain underserved. Our partnership with AXA Mansard Health breaks down long-standing barriers by placing reliable and affordable insurance solutions right at our users’ fingertips.”
In her remarks, Jumoke Odunlami, Chief Distribution Officer, AXA Mansard Insurance said that the partnership with Palmpay presents the AXA with another opportunity to improve health and productivity of Nigerians. “Through partnerships like this, we are covering over 1.8 million Nigerians and ensuring that healthcare is accessible, available and affordable.
“So we are excited about joining forces with a brand like Palmpay to compliment the range of financial possibilities they offer their customers with health plans. It fits well with our mission and our purpose of acting for human progress by protecting what matters, and we are looking forward to doing even more with Palmpay”, she explained.
This partnership reflects PalmPay’s broader mission to create a more inclusive digital financial ecosystem, one that empowers users to not only manage their money efficiently, but also secure their future.
This partnership reflects PalmPay’s broader mission to create a more inclusive digital financial ecosystem, one that empowers users to not only manage their money efficiently, but also secure their future.
By Diana Tenebe, Chief Operating Officer, Foodstuff Store
Nigeria’s agricultural sector, a cornerstone of its economy, faces a critical crossroads. While employing a staggering 40% of the population and holding over 84 million hectares of arable land, the industry is hobbled by deep-seated challenges. Low productivity, a fragmented supply chain, poor infrastructure, and a lack of access to financial services are just a few of the hurdles that prevent the sector from reaching its full potential. Coupled with the unpredictable and severe shocks of climate change—from prolonged droughts to devastating floods—these issues threaten the food security of a rapidly growing population.
Diana Tenebe
To truly transform this vital sector, a new approach is needed, one that moves beyond traditional methods and embraces the power of technology. Artificial Intelligence (AI) is not just a futuristic buzzword; it is the imperative for Nigeria’s agricultural revolution. AI holds the key to unlocking higher yields, building resilience, and fostering an inclusive and sustainable food system that can feed a nation and drive economic growth.
The most immediate impact of AI is in the area of precision farming. By integrating AI with technologies like Internet of Things (IoT) sensors, drones, and satellite imagery, farmers can gain an unprecedented understanding of their land. AI-powered systems can analyse real-time data on soil moisture, nutrient levels, and plant health, providing actionable insights for targeted interventions. For instance, smart irrigation systems can optimize water usage, a critical resource in a country facing increasing water scarcity. AI-enabled drones can survey vast farmlands in minutes, identifying early signs of pests or disease and allowing for precise application of pesticides, reducing chemical use and cost. Early trials of these technologies in Nigeria have already demonstrated significant gains, with some reports showing a remarkable 60-70% increase in crop yields.
Climate adaptation is another area where AI’s role is indispensable. Nigeria’s farmers are on the front lines of climate change, enduring erratic rainfall and extreme weather events. AI can provide a shield against this volatility. By analyzing historical weather data and real-time forecasts, AI models can offer accurate, localized predictions. This allows farmers to proactively adjust their planting schedules, select climate-resilient crop varieties, and plan for potential risks, effectively mitigating the devastating impact of droughts and floods.
The economic benefits extend far beyond the farm gate. A significant portion of Nigeria’s agricultural produce is lost due to an inefficient and fragmented supply chain. AI can streamline logistics, optimize transportation routes, and enhance inventory management. By reducing spoilage and waste, AI ensures that more of what is harvested reaches the market, thereby boosting the incomes of farmers and providing a more stable supply of food for consumers. The success of Nigerian agritech companies like Crop2Cash, which has reportedly helped over 500,000 farmers increase their income by up to 70%, demonstrates the tangible economic impact of these technologies.
AI is a powerful tool for promoting financial inclusion and education. Millions of smallholder farmers, who form the backbone of Nigerian agriculture, are often excluded from formal financial systems due to a lack of collateral and credit history. AI-driven fintech solutions can bridge this gap by assessing creditworthiness using alternative data, making it easier for farmers to access the loans and insurance they need to scale their operations. AI-powered mobile apps and chatbots can also serve as virtual extension agents, providing personalized advice on best farming practices, pest control, and crop management, democratizing knowledge and empowering farmers to make better decisions.
Despite this immense potential, the journey towards widespread AI adoption is not without its hurdles. High upfront costs for AI-enabled equipment, a general lack of understanding and experience with these tools, and a preference for traditional methods are all significant barriers. Furthermore, infrastructural gaps, including poor roads and inadequate storage facilities, hinder the seamless implementation of these technologies. Data availability and computational capacity are also key challenges that need to be addressed.
However, the Nigerian government and a burgeoning ecosystem of agritech startups are already paving the way forward. The government’s vision is articulated in initiatives like the National AI Strategy, which aims to establish AI research centers and support R&D. Programs such as the Nigeria Artificial Intelligence Research Scheme (NAIRS) and the NITDA AI Developers Group are building the necessary skills among entrepreneurs and farmers. Strategic partnerships between government bodies, financial institutions, and innovative startups are creating localized solutions that are tailored to the unique conditions of Nigerian agriculture.
Ultimately, AI is not a luxury but an imperative for Nigeria to unlock its agricultural potential. Its successful integration will transform the role of the farmer from a manual laborer to a strategic planner and overseer of a smart, efficient, and sustainable food system.
By investing in infrastructure, fostering strategic partnerships, and prioritizing education and capacity building, Nigeria can harness the power of AI to feed its people, drive economic prosperity, and secure its place as a leader in the African agricultural revolution.
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