[Africa Tech Week] Duncan Mochama: Financial malware attacks are on the rise in Africa
12-08-2021 16:25:31 | by: Nixon Kanali | hits: 1300 | Tags:

Cybersecurity has always been one of the biggest concerns for most organisations across Africa. Kaspersky’s recent research however shows that the overall number of financial malware attacks in countries like Kenya decreased in the first half of 2021, when compared to the same period in 2020. 

The report released this week shows that 29.3% of the 7 962 attacks recorded in the country targeted corporate users, which is a cause for concern, warn Kaspersky experts. This week, in a drive, to educate the next generation of Internet users in a fun and engaging manner, Kaspersky announced plans to launch a landing page full of resources in support of the book ‘Midori Kuma and a Very Special Race.

This week, African fintechs were also in the news. Fintech startup Moove raised $23 Million Series A funding to democratize vehicle ownership in Africa.  Pan-African banking group, Ecobank group, also opened applications for its 4th edition of the Ecobank Fintech Challenge.Selected Finalists will be inducted into the Ecobank Fintech Fellowship following the Finals and Awards ceremony slated for November 2021. The selected top three winners will receive cash prizes worth $15,000, $12,000, and $10,000 respectively. 

Still on startups, to enable more Africans to take advantage of digital offerings in a new world defined by the Covid-19 pandemic, West Africa’s solar-based internet and voice service provider Tizeti, launched new connectivity offerings. HEVA Fund LLP and the British Council, as part of the ACP-EU Culture Programme, also established a grant facility, named Ignite Culture, for the support of creative and cultural industries (CCIs) in 14 countries in Eastern Africa.

In Nigeria, YahClick and its partner Hughes Network Systems, signed a strategic partnership with Global Communications Extension Services Limited to provide satellite connectivity for 9mobile, one of Nigeria’s leading mobile network operators. WEMA Bank, one of Nigeria’s oldest financial institutions, also renewed and expanded its long-term business agreement with Network International, the enabler of digital commerce across Africa and the Middle East. 

In South Africa, the Independent Communications Authority (ICASA) announced that it will hold public hearings on 12 and 13 August 2021 in respect of the draft Mobile Broadband Services Regulations. In Malawi, mobile money service provider TNM Mpamba launched a Mastercard virtual payment solution that will enable TNM Mpamba mobile money wallet customers to make safe and seamless local and international e-commerce transactions.

MTN Group this week announced the appointment of Troopti Desai as Group Executive: Tax, effective 13 September 2021. South Africa's e-Commerce retailer Takealot Group also appointed Mamongae Mahlare as its new Group Chief Executive Officer, effective 1 October 2021.

Despite the gender gap and social challenges, entrepreneurial women across the world and in the Middle East and Africa (MEA) are leading the way in tapping into the power of the digital economy to succeed and grow. This is according to new research by Mastercard released this week

Other top highlights of the week include Kenya’s leading telco Safaricom partnering with the Nairobi Securities Exchange (NSE) to enable Kenyans to invest in stocks using their accrued bonga points, OPPO officially releasing its first 6G white paper - "6G AI-Cube Intelligent Networking" and Mastercard expanding its globally-renowned Priceless platform in the market to bring people in Egypt closer to their passions.

Duncan Mochama is the solutions consultant at  Incentro Africa.