Yemi Kale, Afreximbank’s Group Chief Economist, yesterday said that Nigeria is positioned to drive Africa’s transition into a digitally enabled trade ecosystem, arguing that the country’s demographic strength and emerging innovation hubs give it a competitive edge as the continent reshapes its economic future under the African Continental Free Trade Area (AfCFTA).

Speaking in Abuja on Thursday at Afreximbank’s high-level forum on trade intelligence and digital innovation, themed “Unlocking Nigeria’s Trade and Investment Potential Through Digital Innovation and the Abuja AATC”, Kale said Africa is “at a defining inflection point” that will determine whether it reacts to global economic shifts or helps shape them.

He noted that the AfCFTA’s unified market—covering more than 1.3 billion people and a combined GDP of $3.4 trillion—offers countries like Nigeria a historic opening to boost industrialisation and deepen regional value chains. “The AfCFTA presents a unique once-in-a-generation opportunity to expand and strengthen regional value chains,” Kale said.

He added that deeper integration will help African economies diversify away from primary commodities and build resilience against external shocks, long-standing vulnerabilities that have limited growth across the continent.

Kale said digital transformation is now the most powerful lever to unlock the AfCFTA’s potential, as African economies still face fragmented markets, high logistics costs, weak trade data systems and cross-border payment frictions.

He argued that digital tools—from automated customs processing to e-commerce platforms and blockchain-enabled documentation—could sharply cut transaction costs and improve market access for Nigerian firms.

“Digital innovation is therefore not just the engine of trade—it is the new highway on which African commerce will travel,” he said. “Those who build and use this highway early will lead tomorrow’s markets.”

He cited Rwanda’s digital single-window system, which cut export processing times by more than 90%, and Africa’s mobile-money infrastructure, which handles more than $800 billion annually, as examples of what digital trade systems can deliver at scale.

Kale also highlighted the Pan-African Payment and Settlement System (PAPSS), which enables cross-border payments in local currencies and is expected to save African businesses billions in conversion costs.

He illustrated the transformative impact of digital tools with the story of a young leather-goods exporter from Kano who turned a small operation into a cross-continental business after adopting digital trade platforms and digital payments. “Her success is a clear example of how digital innovation can turn local ambition into continental and global opportunity,” he said.

Nigeria, he added, has the natural ingredients to lead Africa’s digital trade surge, including a young population, a fast-growing technology sector, and entrepreneurs who are already building products for global markets.

“We are a nation of entrepreneurs, creators and problem-solvers, and our demographic advantage is unmatched,” Kale said.

With 65% of Nigerians under age 25, he said the country’s youth “are founding technology start-ups, writing software code, designing digital solutions, and shaping entirely new industries.”

Afreximbank, he disclosed, intends to play a catalytic role by financing trade and investment, strengthening regional value chains and rolling out digital infrastructure through the Africa Trade Gateway (ATG).

The Gateway integrates trade information, due-diligence tools, market insights and secure payment systems—capabilities he described as essential for businesses aiming to scale across Africa.

Kale said Nigeria’s leadership is already evident with the launch of the Abuja Afreximbank African Trade Centre (AATC), which he described as both a strategic asset and symbolic commitment to modernising Africa’s trade architecture.

The centre combines conference facilities, SME incubation hubs, trade-information services and access to the ATG under one roof, and is the first in a planned network of one-stop trade centres across Africa and the diaspora.

Urging policymakers and private-sector leaders to seize the moment, Kale stressed, “If we commit to digital transformation, to collaboration, and to bold, forward-looking action, then Africa will not only participate in the global economy—we will shape it.”

He further argued that a digitally integrated continent would unlock new opportunities for farmers, creatives, SMEs and young innovators. “This is not a distant dream,” he said. “It is a future within our reach.”

Kaspersky’s detection systems discovered an average of 500,000 malicious files per day in 2025, marking a 7% increase compared to the previous year. Certain types of threats saw growth globally – there was a 59% surge in password stealer detections, a 51% growth in spyware detections, and a 6% growth in backdoor detections compared to 2024.

Windows remains the primary target for cyberattacks. 48% of users on Windows were targeted by different types of threats throughout 2025. For Mac users, this figure stands at 29%.

Web threats

Globally, 27% of users were attacked with web threats – these refer to malware that targets users when they are online. Web threats are not limited to online activity, but ultimately involve the Internet at some stage for inflicted harm. In Latin America, 26% of users were attacked by web threats in 2025, while this share reached 25% in Africa, 21% in Europe and 19% in the Middle East.

On-device threats

33% of users were attacked with on-device threats. These include malware that is spread via removable USB drives, CDs and DVDs, or that initially makes its way onto the computer in non-open form (for example, programs in complex installers, encrypted files, etc.). Africa headed the rating with 41% of users attacked with this type of threat; APAC reached 33%, Middle East – 32%, Latin America – 30%, and Europe 20%.

“The current cyberthreat landscape is defined by increasingly sophisticated attacks on organisations and individuals around the world. One of the most significant revelations made by Kaspersky this year was the resurgence of the Hacking Team after its 2019 rebranding, with its commercial spyware Dante used in the ForumTroll APT campaign, incorporating zero-day exploits in Chrome and Firefox browsers.

Vulnerabilities remain the most popular way for attackers to get into corporate networks, followed by using stolen credentials – hence the rise in password stealers and spyware we see this year. Supply chain attacks are also common, including attacks on open-source software.

This year the number of such attacks increased significantly, and we even saw the first widespread NPM worm Shai-Hulud,” comments Alexander Liskin, Head of Threat Research at Kaspersky.

“This increasingly complex threat landscape makes implementing robust cybersecurity strategies vital for organisations, as failure to do so can lead to months of downtime in the event of attacks. Individual users should also always use reliable security solutions, otherwise they put not only their data and money at risk, but also those of the organisations where they work.”

The Securities and Exchange Commission (SEC) is set to unveil two innovative products – a USSD Service and ISA Audio – designed to democratise information dissemination and enhance investor engagement. This is in line with the SEC’s commitment to deepening market accessibility.

According to the Commission, the products unveiling will take place at the forthcoming Capital Market Committee Meeting scheduled for December 8 in Lagos, while the regular interface with journalists is expected to take place on December 9, 2025.

The SEC disclosed that the forthcoming CMC will interrogate critical themes germane to the sustainable development of Nigeria’s capital market. Central to these deliberations include discussion on global macroeconomic dynamics and their transmission effects on domestic financial markets, as well as the importance of cross-border financial integration within the African context.

“Equally salient are discourses on unlocking pension fund investments, enhancing market liquidity, and stimulating innovation through targeted regulatory reforms.

“A significant component of the programme will be devoted to evaluating the trajectory of the Capital Market Master Plan (CMMP). This will encompass a comprehensive review of key achievements and the formal sunset of the 2025 CMMP, alongside the articulation of a strategic framework for the 2030 CMMP Plan” the Commission stated.

Furthermore, the agenda incorporates an analytical session on Nigeria’s recent tax reform legislation and its implications for capital market efficiency and investor confidence.

The SEC said, Collectively, these discourses and initiatives underscore the strategic resolve to reposition the Nigerian capital market as a catalyst for inclusive and sustainable economic growth, consistent with national development objectives and global best practices.

The CMC is an industry-wide body comprising the SEC, capital market operators, trade groups, and other stakeholders.

It serves as a pivotal platform for dialogue, facilitates the exchange of ideas, addresses key issues impacting market growth and organisation, and collaborates on shaping the market’s future.

The committee was established primarily as a means for stakeholders to exchange ideas and provide feedback to the SEC, aiding in the continuous improvement of market operations and regulatory frameworks.

The meeting is expected to draw CEOs from all registered capital market firms, including brokers/dealers, investment advisers, custodians, fund/portfolio managers, and more.