E-Business
Seedstars Africa Ventures I Announces $42m First Close

Seedstars Africa Ventures I, a venture capital fund making early-stage investments in highly scalable start-ups in Africa, has achieved a first close of $42 million, with participation from the African Development Bank, EIB Global with the support of the European Union, under the ACP Trust Fund – EU Compartment and Boost Africa among other global investors.

The fund, with offices in Nairobi, Dakar and Paris, has further secured $50 million in commitments towards an $80 million fundraising target.
The milestone was announced at the 2024 Africa Investment Forum Market Days currently underway in Rabat. Both the African Development Bank and the European Investment Bank are founding partners of the Africa Investment Forum, a platform that advances transformative African projects toward financial close.
Seedstars Africa Ventures I is addressing gaps in early-stage financing across Africa through investments of up to $2 million in seed and series A rounds, with significant follow-on capacity up to $5 million, thereby bridging available pools of capital. By leading successive investment rounds, the fund will catalyse co-investment while offering operational support to start-ups.
The Fund was founded by Maxime Bouan, Tamim El Zein and Bruce Nsereko Lule who have over 45 years of experience investing and working across the continent. Seedstars Africa Ventures is a member of LBO France Group, which played a pivotal role in seeding this initiative as part of their multi asset class African strategy, alongside other initiatives.
Robert Daussun, and Stéphanie Casciola, Chairman and CEO respectively of LBO France said “We are delighted by Seedstars Africa Ventures’ latest milestone, and proud to have been the initial supporter of the team.
“The portfolio the team has built with our support is innovative and transformative, already providing significant impact and value to the continent. LBO France appreciates the opportunity SAV provides for us and our partners to be part of Africa’s growth story.”
“The African Development Bank views Seedstars Africa Ventures as a strategic opportunity to provide innovative support to Africa’s venture capital industry.
“It serves as a conduit to improve access to finance for youth and women while also enhancing the availability of risk capital in Francophone Africa. This is an area that has traditionally faced limited access to risk capital,” said Ahmed Attout, African Development Bank Group Director for Financial Sector Development.
“We welcome the investment of the African Development Bank, our Boost Africa partners, in the Seedstars Africa Ventures fund,” said EIB Vice-President Ambroise Fayolle. “Accelerating digitalisation is a priority for the EIB, and we are committed to supporting African businesses as they drive innovation and prosperity on the continent.”
The fund has already deployed over $10 million to five pioneering African startups in the climate, food systems, energy access, internet connectivity, financial inclusion, and payments infrastructure sectors.
These businesses serve over 60 million people, including by connecting 60,000 households to the internet, supporting 50,000 farmers, and empowering 30,000 individuals with financial inclusion services across eight African countries. The portfolio is also fully 2X compliant, empowering women in startups and ecosystems.
E-Business
Nigeria @ Risks Losing Digital Control- NiRA

Nigeria is at risks losing digital control of its cyberspace following the alarming surge in cyberattacks in the country.

The surge show a dangerous shift from opportunistic cybercrime, facing approximately 4,710 threats weekly and ranking as a top target for cybercriminals in Africa.
Nigeria Internet Registration Association (NiRA) recently warned that the trend weakens the country’s control over its digital identity and limits economic gains from its expanding online ecosystem.
Speaking at the .ng Media Advocacy and Capacity Building Initiative for the Nigerian Information Technology Reporters Association (NITRA), organised by NiRA in Lagos, Adesola Akinsanya, president, NiRA, questioned who truly owns Nigeria’s digital presence, stressing that the answer lies in deliberate choices regarding domain name adoption and the narratives shaping the country’s digital ecosystem.
He likened the widespread adoption of foreign domains to building assets on land owned by others, where control, legal authority, and economic benefits ultimately reside outside the country.
According to him, many Nigerian businesses operating on domains such as .com are effectively anchoring their digital operations on infrastructure beyond national control.
Industry stakeholders at the event noted that while Nigeria’s digital economy continues to expand driven by increasing internet penetration and a vibrant tech ecosystem a significant portion of the value generated is lost through payments tied to foreign domain registration and hosting services.
Seyi Onasanya, chief operating officer, NiRA, described domain names as “digital real estate,” emphasizing their role as a foundational layer of the modern economy.
She stated that countries that prioritise local domain systems are better positioned to retain value, strengthen trust, and enhance digital competitiveness.
Onasanya added that although country-code domains account for nearly 40 percent of global domain registrations, Nigeria still records relatively low adoption of its .ng domain despite its large population and millions of small and medium enterprises.
Experts at the forum warned that dependence on foreign domains contributes to capital flight, weakens national branding, and exposes businesses to external regulatory risks.
They stressed that every domain name represents a potential economic asset linked to transactions, jobs, and overall GDP growth.
Beyond economic implications, speakers highlighted trust and security as critical issues.
Ridwan Badmus, legal and cybersecurity expert, noted that Nigeria’s regulatory framework is evolving to support a more secure digital environment, including policies encouraging government institutions to adopt local domains and hosting services.
He explained that the .ng domain benefits from enhanced security features such as DNS Security Extensions (DNSSEC) and improved monitoring systems, which strengthen resilience against cyber threats.
E-Business
CIBN Allegedly Hit by 250GB Data Breach

Chartered Institute of Bankers of Nigeria (CIBN), the country’s apex professional body for bankers, is reportedly at the centre of a major cybersecurity incident following claims that its internal database estimated at about 250GB has been compromised and leaked online by an unidentified threat actor, according to the Guardian.

The alleged breach, which surfaced recently on underground cybercrime forums, is said to involve a wide range of sensitive institutional and personal data belonging to members of the banking profession.
According to preliminary assessments of sample files circulating online, the exposed information reportedly includes full names, email addresses, phone numbers, residential and business addresses, membership records, scanned identification documents, certificates, and even internal source codes linked to digital systems.
While the authenticity of the full dataset has not been independently verified, cybersecurity observers note that the scale of the alleged leak is consistent with a growing pattern of attacks targeting financial institutions and professional bodies across Nigeria’s banking ecosystem.
Chartered Institute of Bankers of Nigeria, established in the early 1960s and chartered to regulate banking professionalism in the country, plays a central role in setting ethical and educational standards for bankers nationwide.
It counts major financial institutions, including the Central Bank of Nigeria and commercial banks, among its corporate members.
In recent years, the institute has itself acknowledged rising cyber risks affecting the financial sector, warning that banks and related institutions face increasing exposure to digital attacks, including website hijacking, ransomware threats, and data breaches targeting sensitive financial information.
This latest allegation adds to a series of reported cyber incidents involving Nigerian financial institutions, where attackers have increasingly focused on exploiting personal data for identity theft and phishing schemes.
Cybersecurity analysts say Nigeria has witnessed a broader surge in data breaches across banking, telecoms, and government systems, with millions of records reportedly circulating on the dark web in recent years.
The alleged CIBN breach, if confirmed, would further highlight vulnerabilities in institutional data protection frameworks and the growing sophistication of cybercriminal operations targeting financial ecosystems.
However, CIBN has not issued an official confirmation or denial regarding the alleged breach.
But, the need for immediate forensic investigation, member notification protocols, and a comprehensive audit of the institute’s digital infrastructure cannot be overlooked.
Authorities and data protection regulators are also expected to assess the claims as part of broader efforts to curb escalating cyber threats within Nigeria’s financial services sector.
E-Business
Kaspersky MDR Introduces Major Updates, Strengthening Detection and Investigation Capabilities

Kaspersky Managed Detection and Response now offers enhanced automation and incident management features, introduces a new offering for industrial and embedded systems, and delivers an improved customer experience. These advancements bolster security and enable a faster, more efficient response to threats.

Kaspersky MDR is adopted by organisations across a vast range of industries worldwide. In 2025, the solution detected up to three high-severity incidents driven by human activity daily, reducing response time by approximately 22% compared to the previous year.
This result, highlighted in a Global Report by Kaspersky Security Services, reflects enhanced efficiency driven by advanced automation, increased detection rules and the continuously perfected and dedicated expertise of Kaspersky’s specialists.
Keeping in mind that threats are becoming increasingly sophisticated and challenging to detect, Kaspersky recognises that solutions must be continuously refined. This principle is also applied to Kaspersky MDR, which is now being enhanced through a series of important updates designed to improve its value and deliver a better experience for customers.
New MDR offering for embedded and industrial systems
Kaspersky Embedded Systems Security 4.0 (KESS) and KICS for Nodes 4.5 now features a unified MDR agent. For embedded environments, this integrated approach simplifies onboarding and enhances manageability, enabling faster and more dependable MDR deployment. In industrial settings, it decreases operational complexity, strengthens resilience, and streamlines ongoing maintenance.
Enhanced detection and investigation capabilities
Kaspersky MDR now benefits from enhanced container telemetry provided by Kaspersky Endpoint Security for Linux 12.4. This advancement significantly improves visibility into containerised environments, boosts threat detection accuracy, and accelerates the identification of risks within container infrastructures.
Kaspersky MDR now also supports automated file transfers upon analyst request through Kaspersky Anti Targeted Attack 8.0 and Kaspersky Next EDR Expert 8.0. With advanced MDR integration enabled, relevant files are shared automatically, eliminating manual end-user actions. This streamlines collaboration, accelerates incident investigations, and enables faster responses to targeted attacks.
MDR incidents can now be escalated directly from the MDR portal to the Kaspersky Global Emergency Response Team for comprehensive investigation and response. This capability ensures end-to-end management of complex cyberattacks, from the initial response and evidence collection to identifying the primary attack vector and developing an effective mitigation plan.
MDR incidents can now be automatically exported to Kaspersky SIEM 4.0 for advanced analysis and correlation with other security events. This enhancement expands investigative capabilities while maintaining MDR as the central hub for incident management and response.
Enhanced accessibility and customer experience
A one-click incident escalation from Kaspersky Next EDR Expert to MDR is now available, empowering customers with greater control over incident management and ensuring rapid access to expert analysis and response guidance.
Kaspersky MDR now also provides enriched incident notifications via Telegram that allow real-time updates with priority levels, affected assets, tailored recommendations, and direct links to incidents, enabling customers to access vital information instantly without the need to log into the portal.
Furthermore, the MDR portal has been fully optimised for mobile devices and tablets, offering comprehensive access to all core functionalities. These improvements collectively allow customers to monitor incidents and manage their MDR services anytime and anywhere, thereby significantly increasing responsiveness and operational agility.
“At Kaspersky, we are committed to continuously enhancing our MDR to stay ahead of evolving cyber threats and protect organisations worldwide from all industries, 24/7. These latest updates bring extended integrations with the Kaspersky product portfolio, smarter automation and new features that enable quicker and even more precise responses – all to improve user experience because in today’s threat landscape, agility and precision are more critical than ever,” comments Renat Turianov, Kaspersky MDR Product Owner at Kaspersky.
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