E-Business
Symantec, Other Security Vendors @ Crucial Junctures-IDC
The International Data Corporation (IDC) at the weekend commented on Symantec as the latest technology company to slit into two.
Commenting on the trend, Fayaz Khaki, associate director, European Information Security, IDC said that, indeed, all traditional security vendors, are at crucial junctures in their history.
Symantec have been toying with a split for a while – it has finally happened.
Khaki said, the decision does make sense to split the two businesses especially if integrating them proved to be either problematic or difficult to align strategies.
“The security market has and continues to evolve away from the areas in which Symantec have traditionally generated the most revenue.
“As a result, their security business has come under threat recently by other niche vendors and also by smaller vendors who have been able to respond to market changes quicker,” the Associate Director said.
Khaki added that the split allows Symantec to react to market changes quicker and also to ensure they can focus on a purely security related market strategy.
“Theoretically, this should allow Symantec to bring products to the market faster. Symantec – indeed all traditional security vendors – are at crucial junctures in their history.
“The growth in the industry will come from cloud and mobile technologies, the Internet of Things (IoT) is also a huge potential growth market”.
Khaki added that growth in the traditional markets in which security vendors play, i.e. desktop, laptop security, is fairly flat.
“Security vendors need to adapt to ensure they don’t miss market opportunities – speed to market with the right products is key to ensuring relevance and long term growth,” he concluded.
E-Business
PalmPay, Jumia Partner to Launch Integration for Shoppers in Nigeria
PalmPay, Africa-focused fintech operating Nigeria’s most used mobile wallet, and Jumia, Africa’s e-commerce giant, today announce a strategic partnership to enhance the digital payment ecosystem on the continent, starting with payment integrations and co-marketing efforts in Nigeria.
This partnership underscores both parties’ commitment to developing the digital payment ecosystem in Nigeria and grow the use of the cashless economy.
WIth PalmPay now available as a payment method, shoppers on Jumia will now be able to pay for their purchases with the option to check out with their PalmPay wallet, ensuring a seamless user experience and transaction reliability through the direct integration.
“We are proud to partner with Jumia as we bring together the best of fintech and e-commerce to redefine the online shopping experience,” said Sofia Zab, Chief Marketing Officer, PalmPay. “This strategic alliance aligns perfectly with our shared commitment to delivering a superior user experience and exceptional value to our customers.”
Speaking on the partnership, Sunil Natraj, CEO, Jumia Nigeria added: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience.
“This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”
This alliance marks the beginning of a long-term collaboration between two industry giants, aiming to drive innovation, increase convenience for consumers, and foster the adoption of digital payments across Africa.
To celebrate the launch of the partnership, PalmPay and Jumia are launching a special Christmas campaign, running from December 11th to 30th. During this period, customers who make purchases on Jumia using the PalmPay payment method will stand a chance to win exciting cash rewards. More details can be found on the brands’ respective social media pages. @palmpay_ng and @JumiaNigeria.
E-Business
Aero Contractors Launches “12 Days of Christmas” Campaign
Aero Contractors is thrilled to announce the launch of its “12 Days of Christmas” campaign, a festive and engaging social media initiative designed to spread holiday cheer and reward loyal customers.
Running from December 13 to December 24, 2024, this exciting campaign underscores Aero Contractors’ commitment to connecting families, friends, and communities during the holidays.
The “12 Days of Christmas” campaign invites travel enthusiasts, loyal customers, and holiday travelers to participate in fun and interactive activities on Aero Contractors’ social media platforms, including Instagram, Facebook, and X (formerly Twitter). Each day will feature engaging posts such as trivia, puzzles, and challenges designed to ignite the festive spirit and encourage community participation.
Participants are encouraged to follow Aero Contractors’ social media pages, engage with the daily posts by liking, commenting, or sharing, and follow the specific instructions for each day’s activity.
Winners will be selected daily and announced on the respective platforms. Exciting prizes await participants, with the grand reward of a free return economy class ticket—a perfect gift for reconnecting with loved ones or exploring new destinations this holiday season.
“At Aero Contractors, we believe in the power of togetherness, especially during the holidays,” said Capt. Ado Sanusi, Managing Director of Aero Contractors.
“Our ‘12 Days of Christmas’ campaign is our way of giving back to the community that has supported us throughout the year. It’s an opportunity to engage, celebrate, and reward our customers while spreading joy and festive cheer.”
This campaign targets travel enthusiasts, loyal Aero Contractors customers, and families looking to make the most of the holiday season. Through this initiative, Aero Contractors reaffirms its dedication to safe, reliable, and efficient air travel, bringing people closer when it matters most.
Follow Aero Contractors on Instagram, Facebook, and X to join the “12 Days of Christmas” campaign. Engage daily for a chance to win a free return economy class ticket and other exciting offers.
E-Business
Companies Plan to Increase IT Security Budgets by 9 Percent in the Next Two Years
Companies are planning to increase their investments in information security against the background of growing financial losses from cyber incidents. This trend was revealed in the recent Kaspersky’s IT Security Economics report.
Kaspersky IT Security Economics is an annual report that unpicks the changes in budgets, breaches and business challenges affecting IT Security decision makers. It is based on interviews with IT and IT security professionals working in organisations of various sizes and industries.
The survey was conducted across 27 countries in Europe, the Asia-Pacific region, the Middle East, Turkiye and Africa region (including Egypt, Saudi Arabia, Pakistan, South Africa, Turkiye, the UAE), Latin and North America.
According to the research, companies plan to increase their IT security budgets by up to 9%. The median cybersecurity budgets for large enterprises were $5.7M with $41.8M allocated for IT generally, while SMBs invested $0.2M in IT security from a median IT budget of $1.6M.
Possible reasons for the increased investment can be found in the analysis of financial losses from cyber incidents. Large enterprises experienced an average of 12 incidents this year, spending $6.2M to recover from them — 1.1 times higher than the budget allocated for IT security overall.
Despite the greater resources and advanced security infrastructures, the sheer scale and complexity of large enterprise organisations make them more susceptible to costly breaches.
While these enterprises are often better equipped to detect incidents quickly, the time required to fully respond and mitigate these threats can span for hours, underscoring the challenge of managing widespread, complex IT environments.
As for SMBs, these organisations experienced an average of 16 incidents this year, while spending $0.3M for remediation, which is 1.5 times higher than their overall IT Security budget.
SMBs are the most disproportionately affected group in terms of budgetary impact. They often lack robust cybersecurity policies and procedures, which leaves them vulnerable to incidents involving employees, public cloud misconfigurations, and high-level permissions.
In the Middle East, Turkiye and Africa region organiations of all sizes reported to have experienced on average 13 incidents within a year.
“This data illustrates the continuation of the current trend of increasing cybersecurity spending across all market segments. This growth is driven by at least three key factors.
“Firstly, and obviously, the constant growth in the complexity of cybersecurity threats forces companies to adopt more advanced solutions to enhance the detection of attack traces and automate responses.
“Secondly, increasing concerns from governments regarding digital sovereignty leads to the emergence of new regulations and regulatory requirements and, as a result, increased expenses.
The third factor influencing the growth of cybersecurity budgets and costs is the constant increase in salary expectations for professionals in various cybersecurity fields,” comments Veniamin Levtsov, Vice President, Center of Corporate Business Expertise at Kaspersky.
To protect companies against a wide range of cyber threats, Kaspersky recommends:
– Use all-encompassing solutions, such as those from the Kaspersky Next product line, that provide real-time protection, threat visibility, advanced investigation and response capabilities for companies of any size and industry.
– Adopt a managed security service such as Kaspersky Managed Detection and Response if companies lack qualified InfoSec professionals. It will provide the necessary expertise and give them the best possible advanced automated security services. Thanks to its analysis of corporate data gathered every day, in real time, 24/7, it can shield businesses against sophisticated cyberattacks.
– Educate your employees. Dedicated training courses can help, such as those provided in the Kaspersky Automated Security Awareness Platform.
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