General News
e-Commerce: Call to Rescue SMEs’ Data Genocide

By Dr. B. B. Usman
Many billions of data sets are entangled and suffocated in SMEs’ business value chain. This scenario is creating enormous problem to leveraging e-Commerce for economic development, provision of jobs and creation of wealth.
Post COVID-19 pandemic issueshave disclosed that,‘unless we consciously promote and empower e-Commerce in Nigeria, the consequences may result to the annihilation of SMEs’! Indeed, without a well-structured and resilience SME segment, there may be no viable trade and commerce platform for constructive intervention toattain our sustainable development goals.Gains from e-Commerce can write the cheque to significantly assist in revivingour dying SMEs and reduce youth employment in Nigeria.
This is possible, if we can intelligently provide the framework to secure and analyse related data sets that gets missing in action by policy makers each day.The phenomenal data genocide observed in our trade-ecosystem, if rescued, can create millionsof jobs; as well as value chains of wealth for the country. It will also renew lost hope for the disillusioned youths,their families and indeed contribute positively to the GDP.This calls for a proactive National e-Commerce policy and devoted strategies to energize indigenous business empires.
Unarguably, the biggest problem we face in Nigeria/Africa is leveraging evidence-based data for accelerated development and economic advancement. For want of an equitable expression, with respect to e-Commerce analytics; it appears we are annihilating data required for the growth and security of life.In other words, our concern should now be focused on exploring if we are not facing e-Commerce data genocide in Africa?
It is significant to note that data genocide contributes to catastrophic e-Commerce poverty in Nigeria/Africa.This is against the background of the energy status in the production and development processes of the wealth creation value-chain. For example, reliable data informs that the total energy consumption required for the advancement of education, shelter, trade and security in Africa is equal to the total power generation and consumption volume in the Republic of Spain!
Therefore, this is the right time to empower mega e-Commerce companies in Nigeria.
To achieve this, the smart economic approach is to urgently start trade recovery investment to rescue millions of small-scale SMEs currently on life support and dying out there. In the United States, for example, over 480,000 of small-scale enterprises have gone under! SMEs represent the economic backbone of mega enterprises and sustainable mechanism for effective governance and national security-of-things. Reliable estimatesindicate that if an e-Commerce outfit such as Konga in the Zinox Group and others are empowered to create physicalmarket distribution presence in the 36 States; the stimulant intervention will energise the creation of 20,000 new small-scale enterprises with capabilities to create over five million jobs and related activities in the trade, commerce and logistics industries. In a span of 24 calendar months; e-Commerce enabled solar energy to millions of homes will produce three million employment avenues for Nigeria.
Post-pandemic reality has now cleared the air that the world can now anticipate a 276.9% increase in worldwide ecommerce sales over the most-recently tracked period (cumulative data). However, many business owners and investors are vigorously scratching their heads and strategizing on how to participate and scale into that magic number adding up to $4.7 trillion; where e-Commerce has a sizeable chunk in the market playbook.How can Nigeria’s e-Commerce domain benefit from the emerging market?
Today, the term going global has become almost meaningless. The irony is that all nations, business and everything in-between are dreaming of going global. Whereas, this is an illusion, because the world is intertwined and already gone global. The new challenge is that some geographical spheres are dreaming of rebuilding traditional trade fences – domestically!Nevertheless, the Harvard Business Review recently informed that:“Business leaders are scrambling to adjust to a world few imagined possible just a year ago. The myth of a borderless world has come crashing down. Traditional pillars of open markets — the United States and the UK — are wobbling, and China is positioning itself as globalization’s staunchest defender.”
Currently, the majority of the world’s entrepreneurs/CEOs recognize that Big-Data holds the key to discovering and recovering the abundant wealth in Africa. But without evidence-based predictive analysis, the e-Commerce benefits will perhaps remain a pipe dream. Now, how can we propel African e-Commerce to the next level and at the same time limiting the risks?
Historically, Africa had been a mega trading continent. And to date, Africa remains a trading destination continent – reminding us about Mansa Musa of old Mali Empire and the gold riches. The recorded fame of Musa I. (c. 1280 – c. 1337), or Mansa Musa, apart from his kingship background, was entirely due to his ingenuity in trade and commerce. Little wonder he has been described as the wealthiest individual in all human history.But today the continent has been inundated with several challenges – limiting her trade development potential and innovation. Visibly noticed as central to Africa’s development challenges are technology and related trade and commerce infrastructure. The good news today is, the same technology phenomena infested by digital transformation is igniting Africa with e-Commerce revolution.
It is evident that, this revolution is happening at the speed of thought while Africa’s data rate of response to digital commerce is better described as unacceptable snail speed that leads to nothingness. Ironically, the continent still harbours a major chunk of the global wealth. The resilience to conquer those challenges lie on the capability and mastery of e-Commerce delivery and services.What constitutes the beneficial substances of re-imagining the Nigerian trade and commerce model? Numbers speak. According to WTO,‘‘Africa is undergoing a remarkable energy transformation. But African governments and their international partners must accelerate that transformation if we are to achieve our collective ambitions. Access to clean modern energy, especially in Africa, where 620 million people have no electricity, is critical to the success of global efforts to tackle poverty.’’
One critical factor stands out, andthat is, digital infrastructure to promote e-Commerce and energize multi-sectoral market segments.
The telecoms infrastructure support to e-commerce logistics and service delivery remains a strategic imperative. The INFRACO initiative targeted at the telecoms section holds a great promise, if the investment assurances are strategically put into action as a post COVID-19 pandemic recovery plan. This is critical, especially if channelled in partnership with experienced and trustworthy development groups. Again, a good example of such dynamic groups in Nigeria isthe Zinox Group where Konga qualifies and fulfils the expectations of showcasing reasonable equity to eliminate financing gaps. This can be achieved by concentrating such investment into digital innovation solutions. On the long term, as demonstrated by InfraCo Africa, Infraco model investment championed by proactive Government financing reduces identifiable risks and costs of implementation. Not only that, it goes a long way to ensure project reliability and standards that fulfils the expectations of sustainable development Goals (SDGs).
Looking at 2050, what will become of our post COVID-19 economic outlook, without a dynamic and health e-Commerce ecosystem? A very lucid question indeed! Will the digital evolution validate the known adage that; “when the poor have nothing more to eat, they will consume the rich”? This is the time to act. We must not allow the looming digital tsunami to consume our trade and commerce missions. There will be great consequences,if that is allowed to happen.We must avoid travelling back in timefrom digital divide tothe invisible traps of the emerging digital poverty!
Let there be action. The nation is at war with the COVID-19 pandemic. The vaccines are knocking at the door. Now, the central concern is how to empower the youth to engage and own the emerging digital knowledge ecosystem. This can be doneby instituting a special national cluster for Nigeria’sDigital Transformation Innovation Readiness for Nigeria. The first line of action is creating and reconstructing a digital transformation movement mindset and political will to defeat consumerism, corruption and enthrone bold philosophies of prioritizing merit for advancement in science and technology-enabled manufacturing. Nigeria must lead this complex mission in the combat of global digital knowledge acquisition to drive trade and commerce and succeed.
E-Commerce has the magic to facilitate the sustainable development of Africa’s youth employment and digital wealth creation. This agendaincludes re-imagining national economic development and corporate governance pathways;while fast-tracking government mandatory responsibilities through proactive intervention strategies. It also includes the conscious responsibility to analyseour environment, communication and digital divide challenges in Africa and prepare for the world of AI, which includes raising a future digital army for national and continentalsecurity.
Refocusing our development from figurative oil-based data to digital commerce transformation information system is the panacea for migrating the nation from an economy that generates an internal revenue of $9 billion as against $39billion import to register $trillion trade export numbers as a meticulous enterprise out of Africa.Moving forward, there should be no further excuses for Africa with her large population and market to continue failing digital exams repetitively; sitting in the same class of knowledge advancement! The new and profound dream must commence now. Our entrepreneurial-mind treasure is capable and must advance our success agenda from the euphoria of self-celebration to being celebrated by the world.
General News
Over 250,000 Cyberattacks Disguised as Anime – Report

From Naruto to Attack on Titan, cybercriminals are increasingly using anime and other Gen Z favourites as bait. In a new report covering Q2 2024 – Q1 2025, Kaspersky has found over 250,000 cyberattacks disguised as popular anime among other shows and streaming platforms favoured by a younger audience.
To help Gen Z recognise these and other cyber risks, Kaspersky is launching “Case 404” — an interactive cybersecurity game, teaching how to protect their digital lives.
For many members of Generation Z, streaming is more than a pastime, it’s a way of life that provides connection to the characters, worlds and fandoms that define their identity.
From anime to nostalgia-fueled movie marathons, Gen Z’s connection to on-screen worlds runs deep. This unique attachment creates a security paradox: the more emotionally invested the viewer, the easier it is to trick them, and Gen Z’s enthusiasm is proving dangerously exploitable.
This is extremely evident in anime culture. Over 65% of Gen Z regularly watch anime, making them the most anime-engaged generation in history. For our analysis, Kaspersky’s experts selected five popular anime titles among Gen Z: Naruto, One Piece, Demon Slayer, Attack on Titan and Jujutsu Kaisen.
Kaspersky found 251,931 attempts to deliver malware or unwanted files disguised under the names of these anime titles. Cybercriminals are tapping into the trust and affection Gen Z has for these series, often using bait like “exclusive episodes”, “leaked scenes”, or “premium access”.
Among anime titles, Naruto took the top spot, despite first airing more than two decades ago. Over the reported period, it was used as bait in 114,216 attempted attacks. Demon Slayer followed with 44,200 attack attempts.
Its meteoric rise in recent years, amplified by viral moments and a growing global fanbase, made it a natural target for cybercriminals looking to ride the wave of hype. Meanwhile, Attack on Titan — a long-standing favourite — ranked third with 39,433 detected attempts to distribute malicious content.
Apart from anime, Kaspersky also analysed five iconic films and series that continue to resonate with Gen Z: Shrek, Stranger Things, Twilight, Inside Out 2, and Deadpool & Wolverine.
These films and shows alone accounted for 43,302 attack attempts with a pronounced spike in attention to these titles from cybercriminals at the beginning of 2025. This is primarily connected to the rise of attacks on Shrek, with over 36,000 attempts in total and a sharp spike in March 2025, double the monthly average for 2024.
Platforms like Netflix, Amazon Prime Video, Disney+, Apple TV Plus and HBO Max have reshaped movies, series, and anime watching into an immersive, on-demand experience that caters to Gen Z’s love of personalised content and global storytelling. However, this has also created fertile ground for cybercriminals.
Kaspersky detected 96,288 attempts to distribute malicious or unwanted files disguised as the names of these major streaming platforms. Unlike seasonal trends, streaming platforms offer a continuous flow of content, from highly anticipated premieres to hidden gems that viewers discover months or even years after release.
When examining which streaming services were most frequently used by cybercriminals, Netflix stood out by far, involved in 85,679 attack attempts and associated with over 2.8 million phishing pages imitating its branding.
Cybercriminals take advantage of the constant traffic, broad global reach, and frequent subscription-based activity. They mimic login pages, share “free trial” links, or spoof password reset emails with full knowledge of how central Netflix is to Gen Z’s digital routine.
As Gen Z’s daily life becomes inseparable from streaming platforms, fandom spaces, and social media communities, cyberthreats evolve to mirror their interests. To meet this challenge, Kaspersky has launched an interactive online game, “Case 404”, designed specifically for Gen Z. “Case 404” invites players to become cyber-detectives and solve immersive cybercrime cases.
Through this digital adventure, Kaspersky is not just highlighting risks but empowering Gen Z to develop their mindset and skillset to stay safe in an increasingly vulnerable online world. As a reward for completing the game, participants receive a discount on Kaspersky Premium, giving them trusted tools they need to navigate the digital world safely.
“As the world of entertainment continues to evolve, so do the tactics used by cybercriminals to exploit popular content, whether through fake downloads or fraudulent merchandise offers.
“From beloved anime like Naruto and Demon Slayer to the latest blockbusters like Inside Out 2, scammers have found new ways to take advantage of Gen Z’s affinity for digital culture and streaming platforms. With the rise of these cyberthreats, it’s more important than ever for young users to stay vigilant and understand how to protect themselves online,” comments Vasily Kolesnikov, security expert at Kaspersky.
General News
Nigerians, Others Lost $70m to Denied Visas Applications to Europe in 2024

In total, African countries lost 60 million euros in rejected Schengen visa fees in 2024, analysis from the LAGO Collective has shown.
According to CNN, when Joel Anyaegbu’s application for a Schengen visa to travel to Barcelona was denied late last year, he was surprised but immediately reapplied.
He sent in more documents than were required, including bank statements and proof of property ownership in Nigeria.
He was rejected again.
“The information submitted regarding the justification for the purpose and conditions of the intended stay were not reliable,” read a checklist returned with his passport from the Spanish consulate in Lagos. The 32-year-old gaming consultant said he felt humiliated.
“I had to cancel meetings with partners at the conference I was attending,” he told CNN.
“I emailed the embassy to understand why I was denied but it has not been answered to date.”
Anyaegbu’s was among the 50,376 short-stay Schengen visa applications rejected in Nigeria last year, nearly half of all submissions, according to newly released data from the European Commission.
Applicants worldwide pay a non-refundable visa fee of 90 euros (about $100), so Nigerians alone lost over 4.5 million euros (about $5 million) seeking permission to travel to the 29 European countries that make up the Schengen Area.
In total, African countries lost 60 million euros ($67.5 million) in rejected Schengen visa fees in 2024, analysis from the LAGO Collective showed.
The London-based research and arts organization has been monitoring data on European short-term visas since 2022 and said Africa is the continent worst affected by the cost of visa rejections.
“The poorest countries in the world pay the richest countries in the world money for not getting visas,” its founder Marta Foresti told CNN.
“As in 2023, the poorer the country of application, the higher the rejection rates. African countries are disproportionately affected with rejection rates as high as 40-50% for countries like Ghana, Senegal and Nigeria.”
She says this proves “inbuilt discrimination and bias” in the process.
A European Commission spokesperson told CNN that member states consider visa applications on a case-by-case basis.
“Each file is assessed by experienced decision-makers on its own merits, in particular regarding the purpose of stay, sufficient means of subsistence, and the applicants’ will to return to their country of residence after a visit to the EU,” the spokesperson said via email.
Africans have long complained about inconsistent, sometimes baffling decisions about who gets approved or denied while applying for European visas.
Cameroonian Jean Mboulé was born in France but when he applied for a visa in 2022 alongside his wife using similar documents, his application was rejected but hers was not.
“At the time she was unemployed but with a South African passport. She had no income but received a visa on the back of my financial statement,” he told CNN.
“But the embassy said they refused my application because my documents were fake, and they weren’t sure I would come back to South Africa, where I am a permanent resident, if I went to France.”
The 39-year-old regional executive took legal action in French courts and won, forcing the French embassy in Johannesburg to grant his visa and pay him a fine of 1,200 euros.
He told an administrative tribunal in the French city of Nantes that the embassy’s decision to deny him a visa was “tainted by insufficient reasoning.”
Mboulé pointed out that he had provided sufficient guarantees that he would return at the end of his trip to his wife and daughter in South Africa where he owns a building. After he got the visa, he chose to go to Mauritius instead as he didn’t want to spend his money in France.
The EU said its member states consider visa applications on a case-by-case basis.
The Cameroonian’s case is unique as many Africans denied Schengen visas rarely appeal or contest the decisions in court.
Like Anyaegbu, the Nigerian gaming consultant, they often reapply, losing more money in the process.
Mboulé has travelled several times to the UK and other African countries but was still denied twice for Schengen.
“The financial cost of rejected visas is just staggering; you can think of them as ‘reverse remittances,’ money flowing from poor to rich countries, which we never hear about,” the LAGO Collective’s Foresti says.
Schengen visa fees increased from 80 to 90 euros in July 2024, making it even more expensive for the world’s poorest applicants.
But South African management lecturer Sikhumbuzo Maisela said the visa rejection rates for Africans were lower than he expected.
“The visa vetting process seems to be shaped less by outright prejudice and more by historical patterns of behaviour,” he told CNN via email.
“Western countries have had instances where visa holders overstayed or violated terms, and this has influenced how future applications are scrutinized.”
General News
IFC, Standard Chartered Expand Lending in Local Currencies

IFC, a member of the World Bank Group, has partnered with Standard Chartered to bolster local currency financing for private enterprises in emerging markets.
Standard Chartered will provide local currency loans to IFC in selected markets, which IFC will subsequently on-lend to private-sector projects.
The inaugural transaction under this collaboration is a loan of 9 billion Kenyan shillings (equivalent to approximately 70 million US dollars) to IFC, which will support the advancement of digital infrastructure in Kenya.
“With exchange rate volatility and rising debt pressures the need for local currency financing in emerging markets has become increasingly evident. When businesses borrow in the same currency as their revenues, they can concentrate on growth instead of exchange rate fluctuations,” said John Gandolfo, IFC Vice President and Treasurer, Treasury & Mobilization. “As we increase our local currency financing abilities, we plan to replicate this facility in other currencies across the globe.”
Sunil Kaushal, Global Co-Head, Corporate & Investment Banking, and CEO, ASEAN and South Asia markets, Standard Chartered said: “This landmark transaction in Kenya reflects our commitment to supporting financial resilience in local markets.
By partnering with IFC, we’re delivering local currency solutions that help corporates in emerging markets manage currency volatility and access the long-term capital they need to grow. With our deep roots and liquidity access across emerging markets, we are well positioned to scale this initiative and enable more businesses to access stable financing options.”
Kariuki Ngari, Managing Director and Chief Executive Officer, Kenya and Africa, Standard Chartered said: “This partnership represents a pivotal step forward in enhancing Africa’s financial resilience. By facilitating local currency financing, we not only address one of the most significant challenges facing the businesses across the continent – exchange rate vitality – but also open up new avenues for long term economic growth.
Kenya’s digital infrastructure sector is particularly well positioned to benefit from this inaugural transaction, setting the stage for scalable and sustainable financing solutions. These models will drive economic growth and empower local enterprises supporting prosperity across Africa.”
Exchange rate volatility presents a risk for companies that borrow in hard currency, such as the US dollar, but get paid in local currency.
Many local companies in emerging markets lack the capacity to effectively manage these currency risks. Therefore, securing local currency financing at competitive rates with flexible features is increasingly important to meet the growing need for diverse financing options among local companies.
IFC has increased its collaboration with global, regional and local banks to provide more local currency financing to clients. The organization has offered local currency products—such as loans and bonds, structured finance products, and risk-management solutions since the early 1990s.
Between FY15 and FY24, IFC committed local currency senior debt financing of over $30 billion US dollars in 67 local currencies through loans and bonds, structured products, and risk-management solutions.
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