GRBusiness
Seven key reasons you should be serious about cyberattacks
BY: Sandra Ani
According to a global security report released in January this year, a new breed of cyberattacks, seemingly fuelled by geopolitical tension between western democracies and countries including China, Russia and North Korea, is emerging – this against a background in which cryptomining, fileless attacks, ransomware and commodity malware are still causing havoc.
An effective endpoint security system is necessary to protect devices connected to the corporate network, including smartphones, PCs, IoT devices and laptops, from malicious threats.
The Global Threat Report, entitled ‘The Year of the Next-Gen Cyberattack’, was released by Carbon Black, a leader in cloud-delivered, next-generation endpoint security.
The report is based on analysis and insight from the Carbon Black Threat Analysis Unit, which researched cyberattacks across the company’s customer base and in conjunction with its incident response (IR) partners.
On average, according to Carbon Black, the company’s IR partners conduct more than one incident response engagement per day using Carbon Black technology.
The report says: “Modern cyberattacks appear to increasingly be fuelled by geopolitical tension and reveal how clever attackers have become in evolving to remain undetected – using techniques such as lateral movement, island hopping and counter incident response to stay invisible. According to Carbon Black’s threat research, we believe 2019 promises to be a year where endpoint visibility becomes more paramount than ever as attackers continue to evolve and global tensions increase.”
From a geopolitical perspective, the report notes that, as 2018 came to a close, nearly half of all global attacks had originated from China and Russia, according to data provided by Carbon Black’s IR partners. In the third quarter alone, 47 out of 113 incident responses had emanated from these countries.
Toward the end of 2018, the data also revealed several cyberattacks targeting global governments that had included indicators of compromise attributable to North Korea. Further, Iran and Brazil were mentioned in the report as countries of origin for recent attacks.
The CEO of value-added distributor Networks Unlimited Africa, Anton Jacobsz; a vendor partner with Carbon Black in sub-Saharan Africa, said, “The new role of cyberattacks as a weapon between nations has created new battle fronts in the global landscape. For example, between 2011 and 2013, American banks were targeted by DDoS attacks from Iran, and these cyberattacks virtually stopped when negotiations began to lift economic sanctions on Iran in exchange for an end to its nuclear weapons programme.
“Many believe that with the Iran nuclear deal of 2015 now under threat by current United States policy, we could see a return of this kind of activity.
Other key facts released by the ‘Global Threat Report: The Year of the Next-Gen Cyberattack’ include the following:
· The average endpoint protected by Carbon Black was targeted by two cyberattacks per month throughout 2018. At this rate, an organisation with 10,000 endpoints is estimated to see more than 660 attempted cyberattacks per day. Across the Carbon Black customer footprint (totalling approximately 15 million global endpoints) this means there are, on average, one million attempted cyberattacks per day.
· The top industries targeted by ransomware in 2018 were manufacturing, business services, retail, government and computers/electronics.
· Approximately $1.8 billion of cryptocurrency-related thefts occurred in 2018.
· Half of incident response engagements now involve instances of counter incident response, when the attackers fight back against the defence measures taken.
This, says Carbon Black, is “another concerning sign that attackers have become increasingly sophisticated and are initiating longer-term campaigns – as well as a clear signal that incident response must get stealthier.”
· The report also found that more than half of attackers now use their victim primarily for a practice known as ‘island hopping’, when attackers target organisations with the intention of accessing an affiliate’s network.
· Nearly 60 percent of attacks now involve lateral movement, which means that attackers aren’t just going after one component of an organisation: “They’re getting in, moving around and seeking more targets as they go.”
· As nation-state cyberattackers become more sophisticated and powerful, their attacks are also becoming increasingly destructive. Carbon Black’s respondents had said victims outlined in the report had experienced such attacks 32 percent of the time, to the extent that machines suspected by cyberattackers of being forensically analysed had been effectively wiped.
“We can plainly see the rise of new frontiers of opportunity in a world of geopolitical tension that is able to transcend physical borders through cyber means. As attackers continue to evolve and global tensions threaten to increase, the need for endpoint visibility and protection is going to become even more important than ever during this year and moving forward,” concludes Jacobsz.
You can read the Carbon Black ‘Global Threat Report: The Year of the Next-Gen Cyberattack’ here.
The Beer Sectoral Group (BSG), a sector under the Manufacturers Association of Nigeria (MAN), has announced the appointment of Carlos Coutino as Chairman of the Group, effective 1st February 2025.
Mr. Coutino takes over from Hans Essaadi, Managing Director and Chief Executive Officer of Nigerian Breweries Plc, who has served as BSG Chairman since December 2022.
The BSG is a trade association of beer manufacturers in Nigeria, comprising Nigerian Breweries Plc, Guinness Nigeria Plc, and International Breweries Plc. The Group plays a vital role in advocating for responsible alcohol consumption and advancing the interests of the beer industry within the Nigerian market.
Mr. Coutino, who currently serves as the Managing Director/CEO of International Breweries Plc, has nearly two decades of leadership experience within the AB InBev Group. A graduate of Industrial Engineering with an MBA specializing in Strategy, he joined AB InBev in 2004 and has since held top-level roles across three continents and seven countries in Sales, Marketing, and Trade Marketing. He will serve as BSG Chairman for a two-year tenure. In this capacity, he will collaborate closely with the Board of CEOs to provide strategic direction for the BSG, ensuring the Group continues to support industry growth, stakeholder engagement, and regulatory alignment.
Finance
Stanbic IBTC Capital leads Presco PLC’s ₦82.9 Billion Bond Issuance to drive West African market growth
Reporter: SANDRA ANI
Presco PLC (Presco or the “Company”), has achieved a significant milestone with the successful issuance of its ₦82,896,000,000 7-year 23.75% senior unsecured fixed rate Series I Bonds under its ₦150 billion bond issuance programme (the “Transaction”) with the Securities and Exchange Commission (“SEC”). Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as the Lead Issuing House on the Programme.
The proceeds from the Transaction will enable the Company fund its acquisition of a 100% equity stake in Ghana Oil Palm Development Company (GOPDC), further supporting its strategic expansion objectives.
Speaking on the transaction registration, Mr Reji George, Managing Director / CEO, Presco PLC commented:
“The successful completion of our Series 1 Bond issuance solidifies Presco’s foundation for continued growth and expansion. Aligned with our strategic objectives of increasing our planted area of palm oil and, to lead Africa in the fully integrated edible oil and fats business in the nearest future, the proceeds from this issuance will be primarily directed towards the acquisition of a majority equity stake in the Ghana Oil Palm Development Company (GOPDC).
This not only enhances our operational efficiencies, It also solidifies our market presence and competitive advantage in the palm oil sector beyond Nigeria. Most importantly, this will enable us to better serve our valued customers and deliver sustainable value to our shareholders. We extend our sincere gratitude to Stanbic IBTC Capital and all our advisors for their support throughout this process.”
Also speaking on the transaction registration, Oladele Sotubo, Chief Executive, Stanbic IBTC Capital, said:
“Stanbic IBTC Capital is proud to have advised Presco PLC on the successful issuance of its ₦82.9 billion Series 1 bond. As the largest local currency corporate bond issuance in the Nigerian market in recent years, this milestone underscores our deep expertise in capital markets and our commitment to delivering innovative, high-impact financial solutions.
Beyond reinforcing Presco’s strategic growth, this transaction enhances funding diversification within the agricultural sector, driving sustainable industry expansion. We appreciate Presco PLC’s trust in Stanbic IBTC Capital and the consortium of advisors who contributed to the successful execution of this landmark deal.
Transport
Travelers to Make Money as Ozi Launches to Redefine $460 billion Global Package Delivery Market
Key Takeaways from Ozi launch:
- With logistics representing a $1.34 billion in Africa, the demand for innovative delivery solutions has never been greater
- Nigerians face numerous hurdles when it comes to moving packages, ranging from delays and high costs to a lack of secure options
Ozi (www.ozionline.com), a pioneer community-driven delivery app, launches today, offering users a new way to send packages and earn extra cash.
By connecting people traveling with those needing package delivery, Ozi turns everyday trips into profitable opportunities, aiming to disrupt the global parcel delivery industry, also known as the Courier, Express, and Parcel (CEP) market, currently valued at around $460 billion.
Imagine this scenario – You’re traveling to Abuja from Lagos and have empty space in your car. With Ozi, that unused capacity can earn you extra cash by delivering a package along the way. Or maybe you’re a small business owner who needs to send a package to another state but balk at the high cost of courier services.
With Ozi, you can find a verified traveler heading in the right direction to handle your delivery, Engr. Christian Chime, Ozi’s co-founder and CEO, said during the startup launch held today at Four Point by Sheraton, Victoria Island, Lagos.
“Why travel empty when you can earn?” asks Engr. Chime said. “Ozi allows travelers to make the most of their journeys while helping others get their packages delivered with ease.”
“This simple yet powerful idea leverages the daily movements of millions of Nigerians to create a logistics network that is fast, affordable, and efficient.
“Ozi’s unique approach leverages the everyday movement of travelers to bridge this gap, creating a system where everyone benefits”.
He said that the choice of Nigeria as the first launch-location for Ozi was due the potential the country holds in the parcel delivery sub-sector.
“Actually, we had the opportunity to launch OZI in other country outside Nigeria but for their believe in the Nigeria dream and its potentials made us to choose the country as the first to witness Ozi’s innovation”, the CEO said. “Travelers can now monetize their journeys by delivering packages along their routes, while senders gain access to an affordable and convenient alternative to traditional courier services”.
Ozi combines convenience, innovation, and community to deliver a win-win solution for Nigerians. From quick intra-city deliveries to long-distance trips, Ozi offers an affordable, efficient solution for all.
Whether you’re a traveler looking to earn on your trips or a sender seeking a reliable delivery option, Ozi offers a solution that works for everyone.
In the words of Azubuike Augustine, the co-founder and Chief Technology Officer of Ozi, “Ozi’s mission goes beyond simplifying package delivery. The app represents a broader effort to create shared value for all stakeholders in the logistics process. By connecting senders and travelers, Ozi creates a win-win scenario where costs are reduced, trust is built, and income opportunities are created”.
“Ozi prioritizes safety and transparency. Every user, whether sender or traveler, undergoes a comprehensive verification process that includes ID checks and phone number authentication. This ensures that all participants in the system are trustworthy and accountable”.
To enhance security further, Azubuike said that Ozi offers real-time tracking for all transactions. Senders can monitor their packages throughout the delivery process, ensuring peace of mind. For high-value items, optional insurance coverage provides an added layer of protection, reinforcing Ozi’s commitment to reliability.
“At Ozi, we understand that trust is critical in logistics,” the CTO added. “That’s why we’ve built a platform where every step is designed to safeguard both the traveler and the sender.”
“Ozi is more than an app; it’s a community where everyone wins,” said Ikenna Ani, co-founder/COO of Ozi.
“From today, travelers across the globe can sign up through www.ozionline.com and start making every trip count”, he said. “We have put measures in place to ensure only genuine and verified travelers or senders use the platform. Security is primary for us”.
He added that the app will be released on Google Play Store and Apple (iOS) on January 1, 2025. Ozi Live on Instagram | Facebook.
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