E-Business
Serial Entrepreneurs Tasks Entrepreneurs to Understand Business Fundamentals

Emerging entrepreneurs have been urged to understand the fundamentals of a successful business before kick starting the journey of entrepreneurship.
Two successful and serial entrepreneurs, Simeon Ononobi, the founder of SimplePay and MyAdsApp and Adeoye Abodunrin, the ED of Xpos Technologies, were on hand to set the Startups present at the CFA’s Startups Hangout (May edition) on the right course.
The Startups were offered insight into what it takes to run successful startups.
CFA’s Startups Hangout is a monthly meetup, where Startups meet to learn and grow their businesses from successful Entrepreneurs that grace each edition of the Startups Hangout. The successful entrepreneurs divulge nuggets that assisted them in catapulting their various businesses into success as well as advice on what Startups should do to avoid pitfalls. Startups are also afforded the opportunity to network and synergize with one another.
The first invited Speaker, Simeon Ononobi, Founder of SimplePay and MyAdsApp, stated that he started venturing into business at the age of 16 by teaching people how to open emails at the University.
He later opened a cyber cafe and that was how he made his first million. He said venturing into businesses for him usually occurred from mistakes that caused him problems and the need to solve the problem by himself.
He stated that after solving the problems by himself, he now investigated to see that various other people had the same problems. This now gives him the opportunity to solve their problems for them at a price, hence, his starting a business in that line.
Simeon went on to consult for Guaranty Trust Bank PLC, offering to carry out the jib for free, but was eventually paid for his services.
His good work at Guaranty Trust Bank won him many more contracts, including YouWin, a Federal Government initiative. “Know the market you’re dealing with. Don’t be excited in entering every market. Start small”, Simeon advised the Startups present at the event. Simeon also advised that Startups should go into partnership with one another or even work with bigger entrepreneurs to have their dreams realised.
On his part, the second invited Speaker, Adeoye Abodunrin, ED, Xpos Technologies, stated that, Startups need to be level headed because they cannot afford to make mistakes as the odds are high against them.
He said that you cannot run an innovation business where your idea can be taken over by anyone with a deeper pocket, like you will run a traditional business that has a set format for its operations. He advised that anywhere the Startups see pain, discomfort and chaos, they should know that innovation is in the offing. “If you’re a Startup, you have to know how to convert pain into comfort in order to make money”, he stated.
He said that Startup businesses involves three stages that intersect each other and any Startup that wants to be successful should locate himself at the point where the three intersect. The thee are, Pain (human needs), Technology (technological understanding and how to supervise it) and Value (Business sense, creativity, funding and value creation). “Idea is cheap, but impact engineering is key”, Adeoye stated.
Adeoye went on to advice the Startups to allocate budget for Research and Development, no matter whether the Startup is at the Small approach stage (5% to 10%), Repeatable approach stage (40% to 50%) and Hybrid, but risky stage (70%).
Adeoye explained that the first point in the entrepreneurial journey is to understand the needs of the customers and identifying the target market. “You need to know exactly where you’re selling your products”.
He tasked entrepreneurs to have the broad knowledge of technology to afford then to supervise the tech aspect of their business.
“Technology is the key tool to make business flexible and it is important to understand how it works before you can start delegating responsibilities,” Adeoye said.
“If you’re thinking innovation, think about how to manage money, think about customers money, break even point, payback period, return on investment, future value of money, etc.”, Adeoye concluded.
The Hangout ended with the Startups asking the invited speakers questions to which relevant answers were given. Most of the Startups said they look forward to attend the June edition of the CFA’s Startups Hangout, as they are gaining a lot from the invited guest speakers.
E-Business
Kaspersky Discovers Vulnerability in Qualcomm Snapdragon Chips that can Lead to Data Loss & Device Compromise

Kaspersky ICS CERT discovered a hardware-level vulnerability affecting Qualcomm chipsets that are widely used in a range of consumer and industrial devices, including smartphones and tablets, car components, IoT devices and more.

The vulnerability resides in the BootROM – firmware embedded at the hardware level. Attackers could potentially get access to any data stored on the device or device sensors like camera and microphone, implement complicated attack scenarios and in some circumstances get full control of the device. The results of the research were presented at Black Hat Asia 2026.
The vulnerability affects Qualcomm MDM9x07, MDM9x45, MDM9x65, MSM8909, MSM8916, MSM8952 and SDX50 series and was reported to Qualcomm in March 2025. Qualcomm formally acknowledged the vulnerability in April 2025. It has been assigned a CVE-2026-25262. Other Qualcomm-based chips may be affected as well.
Kaspersky researchers explored the Sahara protocol, a low-level communication system used when a Qualcomm chip enters Emergency Download Mode (EDL) – a special recovery mode designed for repairing or restoring smartphones or other devices. Sahara acts as the first step that allows a computer to connect to the device and load software before the operating system on the device starts.
Kaspersky demonstrated that a security flaw in this process could allow an attacker with physical access to the target device to bypass key security protections in the chip, compromise the secure boot chain and, in some cases, deploy malicious applications and backdoors to the chip’s Application Processor, thus fully compromising the entire device.
For example, in cases when the target device is a smartphone or a tablet, the attacker can potentially get access to entered user passwords, and subsequently this opens further access to multiple types of sensitive user data, such as files, contacts, location, access to the devices’ camera and microphone, etc.
A potential attacker only needs a few minutes of physical access to a device to compromise it. Therefore, if a smartphone has been sent for repair or left unattended for a short time, one can no longer be sure it is not infected. Researchers warn that the threat extends beyond end-user scenarios to include potential compromise during the supply chain phase.
“Vulnerabilities like this may allow attackers to deploy malware that is difficult to detect and remove. In practice, this could enable covert data collection or influence device behaviour over extended periods of time.
“While a reboot might seem like an effective way to remove such malware, it cannot always be relied upon: compromised systems may simulate a reboot without actually resetting. In such cases, only a complete loss of power – including battery depletion – guarantees a clean restart,” comments Sergey Anufrienko, security expert at Kaspersky ICS CERT.
Kaspersky advises organisations and individual users to exercise strict physical security control over devices including at the supply, maintenance and decommissioning phases. A reboot of the device by cutting off the power supply to the affected chip (if available) or full battery discharge may help to get rid of the malware if it was installed.
E-Business
Survey Shows Gaps in Cybersecurity Policies and Employee Commitment Leave Organisations Vulnerable

A recent Kaspersky survey entitled “Cybersecurity in the workplace: Employee knowledge and behaviour”, showed that 39% of professionals in the Middle East, Turkiye and Africa (META) region, consider cybersecurity rules in their company to be excessive or not fully appropriate.

While 7% noted that their organisations do not have cybersecurity rules or that they are not aware of them. These results show a disconnect between corporate cybersecurity policies and employee commitment to these rules, underscoring the risks associated with shadow IT and unmanaged device usage in the workplace.
Shadow IT is defined as the use of unauthorised software, devices, or services without IT oversight, and it has evolved into a critical business risk. While often driven by employee productivity needs, it creates blind spots for IT departments.
The rise of hybrid work environments, increased reliance on cloud-based tools and the spread of AI tools have accelerated this trend. Without robust cybersecurity management and oversight, organisations face heightened exposure to ransomware attacks, data leaks, and regulatory penalties.
19% of survey respondents in the META region said there are no policies regarding the use of non-corporate devices in their company. 35% of employees admitted that they can use their own devices to access business information, provided they have some type of cybersecurity protection, even consumer-grade software.
On the positive side, 21% said they can use their own device, but these must first pass more stringent corporate IT security checks; while 25% of respondents indicated that only devices provided by the IT function can be used for work purposes.
The situation is significantly better with permissions for employees to install software on corporate devices without IT department’s approval. 50% reported that only IT specialists in their company are allowed to install software, while in 31% of organisations only top management or designated users can do so. 11% of employees can install software that is approved by the IT team. However, 8% of respondents said that all users can install any software they need without IT agreement in their organisation.
At the same time 21% of professionals surveyed acknowledged that within the past year they installed software on their work devices without IT supervision. That highlights a persistent shadow IT challenge that continues to expose organisations to security vulnerabilities, compliance risks, and data breaches.
“Shadow IT is now a mainstream operational risk. When one in five employees installs software without IT oversight, it signals a policy gap. Many organisations already have security policies in place, but employee perception must also be considered.
Organisations should move beyond restrictive controls and instead implement intelligent, user-centric cybersecurity strategies that combine strategies that integrate technology with employee awareness and responsible use,” said Toufic Derbass, Managing Director for the META region at Kaspersky.
E-Business
Microsoft Faces £1.7Bn Cloud Lawsuit in UK over Alleged Market Abuse

Microsoft is facing a £1.7 billion ($2.3 billion) class action lawsuit in the United Kingdom over allegations that it abused its dominant market position in cloud computing.

Microsoft
The case, filed before the Competition Appeal Tribunal, was brought by Maria Luisa Stasi on behalf of about 59,000 British businesses and organisations. It alleges that Microsoft unfairly imposed higher costs on customers running its Windows Server software on rival cloud platforms.
Stasi said the company’s practices have had a significant financial impact on both public and private sector organisations over several years.
In allowing the case to proceed, the tribunal ruled that it has a “reasonable prospect of success.” The judges noted that Microsoft is alleged to have abused its dominance in the paid server operating system market to undermine competition in the cloud services space.
If the claim succeeds, compensation for affected organisations is estimated to range between £1.7 billion and £2.1 billion.
Microsoft has rejected the allegations and confirmed it will appeal the ruling. A company spokesperson said the decision does not represent a final judgment on the claims and that it disputes the substance of the case.
The lawsuit comes as regulators in the UK and the European Union intensify scrutiny of Microsoft’s cloud business practices. UK authorities are currently assessing whether the company should be designated as having “strategic market status,” a move that would subject it to stricter competition rules.
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