GRBusiness

Sophos introduces “Xstream” version of XG Firewall

Published

5 years ago

February 19, 2020

grassroots

BY: Nmerichukwu Igweamaka

The global leader in next-generation cybersecurity, Sophos has introduced a new “Xstream” architecture for Sophos XG Firewall with high performance Transport Layer Security (TLS) traffic decryption capabilities that eliminate significant security risk associated with encrypted network traffic, which is often overlooked by security teams due to performance and complexity concerns.

GrassRoots.ng understand that the XG Firewall now also features AI-enhanced threat analysis from SophosLabs and accelerated application performance.

Sophos today also published the SophosLabs Uncut article, “Nearly a Quarter of Malware now Communicates Using TLS,” which explains how 23% of malware families use encrypted communication for Command and Control (C2) or installation.

The article details, for example, three common and ever-present Trojans – Trickbot, IcedID and Dridex – that leverage TLS during the course of their attacks. Cybercriminals also use TLS to hide their exploits, payloads and stolen content and to avoid detection. In fact, 44% of prevalent information stealers use encryption to sneak hijacked data, including bank and financial account passwords and other sensitive credentials, out from under organizations.

“As SophosLabs’ research demonstrates, cybercriminals are boldly embracing encryption in an attempt to bypass security products. Unfortunately, most firewalls lack scalable TLS crypto capabilities and are unable to inspect encrypted traffic without causing applications to break or degrade network performance,” said Dan Schiappa, chief product officer at Sophos.

“With the new Xstream architecture in XG Firewall, Sophos is providing critical visibility into an enormous blind spot while eliminating frustrating latency and compatibility issues with full support for the latest TLS 1.3 standard. Sophos’ internal benchmark tests have clocked a two-fold performance boost in the new XG TLS inspection engine as compared to previous XG versions. This is a game changer,” Dan added.

Latency too often deters IT admins from using decryption, as seen in an independent Sophos survey of 3,100 IT managers in 12 countries. The survey white paper, The Achilles Heel of Next-Gen Firewalls, reports that while 82% of respondents agreed TLS inspection is necessary, only 3.5% of organizations are decrypting their traffic to properly inspect it.

Key new features of XG Firewall include:

· Inspection of TLS 1.3 to detect cloaked malware: New port-agnostic TLS engine doubles crypto operation performance over previous XG versions

· Optimized critical application performance: New FastPath policy controls accelerate performance of SD-WAN applications and traffic, including Voice over IP, SaaS and others, to up to wire speed

· Adaptive traffic scanning: The newly enhanced Deep Packet Inspection (DPI) engine dynamically risk-assesses traffic streams and matches them to the appropriate threat scanning level, enhancing throughput by up to 33% across most network environments

· Threat analysis with SophosLabs intelligence: Provides network administrators with the SophosLabs AI-enhanced threat analysis needed to understand and adjust defenses to protect against a constantly changing threat landscape

· Comprehensive cloud management and reporting in Sophos Central: Centralized management and reporting capabilities in Sophos Central provide customers with group firewall management and flexible cloud reporting across an entire estate without additional charge

· Integration with Sophos Managed Threat Response (MTR) service: Customers of XG Firewall who also subscribe to the Sophos MTR Advanced service will have deeper actionable intelligence to prevent, detect and respond to threats, as a result of the integration

“Sophos’ new XG Firewall offers a wide array of enterprise-caliber features, with a growing installed base that is now one of the industry’s most widely deployed next-generation firewalls,” Eric Parizo, senior analyst for enterprise IT strategy, (according to Omdia, Enterprise Decision Maker, January 2020. Results are not an endorsement of Sophos or SophosLabs. Any reliance on these results is at the third-party’s own risk). “XG Firewall can win against industry competitors in large part because of Sophos Central, its SaaS-based, single-pane-of-glass management system for overseeing deployment, management, policy, updates, and response, with optional log management and analytics. This cloud management platform with the Firewall Management and Reporting feature, plus the TLS inspection, position Sophos XG Firewall as a compelling option for a wide variety of organizations.”

“At Convergent Information Security Solutions, we are engaged in the management and monitoring of both perimeter and internal cybersecurity for our customers, and until now we were somewhat limited in our ability to monitor SSL/TLS encrypted data streams. Sophos XG Firewall helps us solve this problem efficiently and affordably with the new accelerated DPI engine in the latest version.

“This, combined with new automatically-managed custom IPS rule sets, gives us much more visibility into encrypted traffic going through the network than we ever had before. This feature will immensely improve our customers’ security and we consider this to be critical, based how broadly cybercriminals are capitalizing on TLS encryption to cover-up and carry out their attacks,” said Bruce Kneece, CTO of Columbia, S.C.-based Convergent Information Security Solutions. “We’re also aware of how fast cyberattacks are morphing. With the ability to scan for potentially dangerous files transported inside of SSL/TLS tunnels, in addition to the zero-day detection engine of Sandstorm, we can provide better, faster customer protection, detection and service.”

Sophos XG Firewall is available in the cloud-based Sophos Central platform alongside Sophos’ entire portfolio of next-generation cybersecurity solutions. Sophos’ unique Synchronized Security approach empowers these solutions to work together for real-time information sharing and threat response.

GRBusiness

Beer Sectoral Group Appoints Carlos Coutino as Chairman

Published

2 weeks ago

February 13, 2025

grassroots

Carlos Coutino, BSG chairman

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

Published

3 weeks ago

February 6, 2025

grassroots

L-r: Oladele Sotubo, Chief Executive, Stanbic IBTC Capital; Kenneth Ugo, Investor Relations Manager, Presco PLC; Olaronke Arigbede, Group Treasurer, SIAT Group; Reji George, Managing Director/CEO, Presco PLC; Felix Nwabuko, Group CEO, SIAT Group and Bayo Ajayi, Chief Executive Officer, Rand Merchant Bank Nigeria Limited, during the signing ceremony of Presco PLC’s ₦82.9 billion 7-year 23.75% Series I Bond held recently in Lagos.

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

Published

2 months ago

December 23, 2024

grassroots

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 Founders — *L-r: Co-Founders of Ozionline.com: Ikenna Ani (COO), Azubike Augustine (CTO) and Engr. Christian Chime (CEO)*

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.