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Tech & Business
- Cybersecurity recovery costs post a staggering increase in recovery costs for the Energy and Water sectors.
- The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an exploited vulnerability
- The Energy and Water sectors also reported a high rate of ransomware attacks
The water and energy sector have been the worst hit with the rise in cybercrime recovery costs according to a new report by Cybersecurity firm Sophos. Titled “The State of Ransomware in Critical Infrastructure 2024,” the survey shows a staggering increase in recovery costs for the Energy and Water sectors.
Experts from Sophos say that the median recovery costs for these critical infrastructure sectors have quadrupled to $3 million (Sh390 million) over the past year, significantly higher than the global cross-sector median. The report also reveals that nearly 49 per cent of ransomware attacks on these sectors began with an …
- Only 8 per cent increased awareness, consumer concern regarding sharing personal information remained significant at 91 per cent in Q2 2023, albeit down from 94 per cent last year.
- The study shows that there has been an accelerating rate of digital fraud in other sectors of the country, such as retail, financial services, telecommunications, travel & leisure, and communities
Digital fraud attempts are on the rise in the country with 80 per cent of Kenyan having been targeted in the first three months of year, a new TransUnion’s Consumer Pulse Survey has shown.
From the findings a notable 72 per cent of respondents who reported being targeted by digital fraud schemes successfully avoided falling victim. However, an additional 8 per cent were targeted and fell victim to these schemes.
The awareness of fraudulent schemes was significantly high; only 20 per cent of consumers reported being unaware of any fraud schemes …
- NALA raises 40 million dollars to fuel international expansion and launch its own payment rails for Africa and beyond.
- The US fintech building global payments for emerging markets.
- $40million Series A for NALA, the fintech that took Africa’s payment problems personally.
NALA raises 40 million dollars to build cross-border payments for emerging markets. NALA, one of Africa’s largest fintech companies, has announced the Series funding to support its global expansion and enhance the reliability of payments to Africa by developing its own payment rails.
The past 12 months have been transformative for NALA. The company achieved a 10x increase in revenue, reached profitability, and had positive cash flow.
In the past 20 months, NALA saw a 34x increase in transaction volume. The NALA team has grown from just 7 members to a robust team of over 100. Finally, today, NALA proudly serves 500,000 customers.
The $40 million funding round …
- Data from the World Bank’s Global Findex Database 2021 indicates significant strides in female financial inclusion over the past decade.
- In the 10 years leading up to 2021, the share of women in Africa who owned a financial account doubled to more than 49 per cent.
- This surge in women’s account ownership in many developing countries is largely attributed to mobile money platforms.
Data from the World Bank’s Global Findex Database 2021 indicates significant strides in female financial inclusion over the past decade. The gender gap in ownership of formal financial accounts in developing countries has decreased from 9 to 6 per cent, signifying a move towards financial parity for women.
The increase in account ownership among women has outpaced that of men, with 68 per cent of adult women in developing nations now participating in formal financial systems. This surge in women’s account ownership in many developing countries is …
- South Korea-based LB Investment, which has $1.2 trillion Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress. (https://riverwestdentalid.com)
- The firm will showcase a diverse portfolio of startups and companies, representing cutting-edge innovation and disruptive solutions across industries.
- Among the notable entities brought to the forefront by LB Investment are LisMed, Standard Energy Inc., t’order, FITPET, LABLUP, BLUEZONE WIDE, NOTA AI, and ABYSS Company.
LB Investment, a venture capital company with a legacy of fostering innovation and entrepreneurship, and with $1.2 trillion in Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress, scheduled to be held from May 7th to May 9th in Abu Dhabi, United Arab Emirates.
Established in 1996, LB Investment has consistently been recognised as one of South Korea’s premier fund managers, earning accolades such as the A+ grade from the …
- AIM Congress 2024 aims to facilitate economic opportunities and foster mutually beneficial international economic relations.
- The congress provides a platform to engage with global leaders, explore investment trends, and forge meaningful B2B and B2C partnerships.
- The Future Finance Forum Track at AIM Congress 2024 will explore the use of cutting-edge technologies such as blockchain, AI, fintechs, and digital currencies.
The AIM Congress, under the leadership of Dawood Al Shezawi, President of AIM Global Foundation, stands poised to host an unprecedented global gathering from May 7th to 9th. This event promises to assemble an extraordinary array of leaders, including over 25 government ministers, 45 city mayors, and 12 central bank governors, reflecting its vast international appeal and strategic importance.
With more than 900 speakers and 450 dialogue sessions scheduled, the congress aims to foster comprehensive dialogue and networking among the most influential figures across various sectors worldwide.
The sheer scale and …
- Ventures interested in applying for the Investment Showcase can submit applications here by 2nd May.
- To qualify, the ventures must be African, have at least one African co-founder or be headquartered in Africa.
- They must also offer a product or service designed for scalability, and be able to present in person at the Africa Tech Summit (ATS) London.
On June 7th, 2024, the Africa Tech Summit (ATS) London will convene at the London Stock Exchange for its eighth edition, continuing its tradition of fostering business and investment opportunities in Africa and around the world.
This tech conference, known for its dynamic engagement and insight into the African continent’s tech industry, is poised to attract over 300 African and international tech leaders, policymakers, investors, entrepreneurs, and corporates.
The summit’s key event, the Investments Showcase, is inviting African tech ventures to present their business models to a curated audience of potential investors …
- Survey shows 60% of journalists interviewed indicate that their newsroom lacks an AI use case policy.
- However, 20% of journalists revealed that they are planning to explore AI’s potential applications.
- State of Journalism Survey 2024 interviewed 1,106 respondents across the world.
Media houses are still lagging behind in the push for AI adoption in their line of work with a majority failing to institute AI policies in newsrooms. This is according to a recent survey conducted by Muck Rack delving into the current landscape of journalism, revealing notable trends and concerns among journalists across the industry.
From the findings, 60 per cent of the surveyed journalists indicated that their newsroom lacks an AI use case policy, while only 24 per cent reported having one in place.
This raises questions about whether the absence of policies hinders journalists from exploring AI tools or if other factors, such as a lack of …
- Exclusive pre-congress workshop launched to elevate startups for the global stage
- This year’s startup competition has attracted entrants from 53 countries.
- With cash prizes amounting $60,000, the stakes are high for participants to showcase their innovations.
As the global business community looks forward to the AIM Congress 2024, an exclusive startup workshop has been announced to prepare tech entrepreneurs for the grand stage.
Scheduled for May 7-9, the AIM Congress is set to be a pivotal gathering for industry leaders, policymakers, investors, and innovative startups under the theme “Adapting to a shifting investment landscape: Harnessing new potential for global economic development.”
In preparation for this landmark event, AIM Startup, in partnership with Bloom, is organizing a preparatory workshop designed to hone the skills and strategies of promising tech entrepreneurs. The workshop, aimed at empowering participants to maximize their impact at the congress, is part of a broader initiative by …
