E-Business
Firm Predicts AI, Privacy to Shape Consumer Cybersecurity Landscape in 2025
According to Kaspersky’s latest report, artificial intelligence (AI) will become an integral part of daily life, while privacy concerns around biometric data and advanced technologies will take center stage in 2025. These forecasts are part of the annual Kaspersky Security Bulletin series, which provides an outlook on the cybersecurity trends and threats expected to impact consumers in the coming year.
AI becomes an everyday reality
AI is predicted to fully integrate into daily life in 2025, becoming a standard tool rather than a novel technology. With prominent operating systems like iOS and Android rolling out AI-enhanced features, people will increasingly rely on AI for communication, workflows, and creative tasks.
However, this normalisation also brings challenges, particularly as personalised deepfakes become increasingly sophisticated in the absence of reliable detection tools.
Privacy regulations will expand user data ownership
The growing emphasis on privacy is expected to lead to new regulations that strengthen user control over personal data. By 2025, individuals may gain the right to monetise their data, transfer it easily across platforms, and benefit from simplified consent processes.
Global frameworks, such as the EU’s GDPR, California’s CPRA and South Africa’s POPIA, continue to inspire reforms worldwide, while decentralised storage technologies could further strengthen user autonomy over their information.
Fraudsters will continue to exploit premieres and releases
Cybercriminals are expected to target prominent gaming, console, and film launches in 2025. Titles like Mafia: The Old Country, Civilization VII, and Death Stranding 2, as well as the anticipated Nintendo Switch 2, are likely to attract scams involving fake pre-orders, counterfeit rootkits, and malicious downloads.
Similarly, blockbuster films like Superman and Jurassic World Rebirth may trigger phishing campaigns and counterfeit merchandise fraud aimed at enthusiastic fanbases.
Political polarisation will fuel cyberbullying
Increasing political polarisation is expected to exacerbate cyberbullying in 2025. Social media algorithms that amplify divisive content, combined with the widespread availability of AI tools for creating deepfakes and doctored posts, are likely to intensify online harassment. Cross-border cyberbullying could also escalate as global platforms facilitate the targeting of individuals based on their political beliefs.
Rising number of subscription services will fuel fraud risks
As the global economy shifts further towards subscription-based models, a rise in fraud related to fake subscription promotions is expected. Cybercriminals are expected to create counterfeit services that mimic legitimate platforms, aiming to deceive users into providing personal and financial information, resulting in identity theft and financial losses.
Additionally, the growth of unofficial resources that provide discounted or free access to subscription services is expected to become a significant threat vector, exposing users to phishing attacks, malware, and data breaches.
Prohibition of social media for children may lead to broader user restrictions
Australia’s proposed legislation to ban social media access for children under 16 could set a global precedent. If implemented successfully, the restriction could pave the way for broader limitations on access for other demographics.
Platforms like Instagram have already begun adopting AI-powered age-verification systems, signaling a shift toward stricter governance of online spaces.
“As we look to 2025, the most significant impact on consumers is expected to arise from the intersection of innovation and regulation. Advances in AI, privacy protection, and data ownership frameworks will reshape the way people interact with technology and manage their digital lives.
These developments hold immense potential but also demand careful oversight to ensure they serve consumer interests,” said Anna Larkina, Kaspersky privacy expert.
E-Business
NCAC, NITDA Partner to Launch BuyNigeria.ng Platform
National Council for Arts and Culture (NCAC) and National Information Technology Development Agency (NITDA) have announced a partnership to pilot BuyNigeria.ng, an e-commerce platform aimed at bringing Nigerian markets online and positioning Nigeria as a global leader in cultural and digital transformation.
This partnership represents a significant step toward integrating Nigeria’s cultural heritage with advanced digital innovation, unlocking new opportunities for the nation’s creative and digital economies
In a joint statement signed by Dr. Dennis Olofu, head of Media at NCAC, and Mrs. Hadiza Umar, director of Corporate Communications and Media Relations at NITDA, the initiative was described as a landmark collaboration to integrate Nigeria’s cultural and creative industries (CCI) with its growing digital and innovation ecosystems.
The initial phase will target markets in Kano, Lagos, Aba, and Abuja, enhancing visibility and accessibility for traders and artisans while promoting productivity in the cultural and creative sectors.
The statement highlighted a strategic meeting between Mr. Obi Asika, director-general, NCAC, and Kashifu Inuwa, director-general, NITDA, to establish a collaborative framework. This alliance aims to drive innovation, growth, and digital transformation within Nigeria’s creative and cultural industries.
Expansion of ICE Programme: NCAC’s flagship ICE (Innovate, Create, Empower) programme, designed to upskill participants in cultural and creative industries, will be expanded nationwide with NITDA’s support. The goal is to reach 1,000 locations and train 2 million Nigerians by 2027.
Digital Platforms: NCAC is collaborating with private sector partners to develop platforms for cultural inventory, fan engagement, influencer marketing, subscription video-on-demand (SVOD), e-commerce, and capacity building, with NITDA providing cloud services and distribution networks.
Digital Transformation Support: NITDA will equip NCAC’s headquarters and zonal offices with computers, digital labs, tablets, and podcast studios to support full digital transformation.
A joint committee comprising directors from both agencies will oversee the partnership’s implementation. NCAC will also align its Nigeria’s Got Talent platform with NITDA’s digital literacy and gamified learning programs, fostering opportunities for creatives in a digitally advanced environment.
E-Business
Seedstars Africa Ventures I Announces $42m First Close
Seedstars Africa Ventures I, a venture capital fund making early-stage investments in highly scalable start-ups in Africa, has achieved a first close of $42 million, with participation from the African Development Bank, EIB Global with the support of the European Union, under the ACP Trust Fund – EU Compartment and Boost Africa among other global investors.
The fund, with offices in Nairobi, Dakar and Paris, has further secured $50 million in commitments towards an $80 million fundraising target.
The milestone was announced at the 2024 Africa Investment Forum Market Days currently underway in Rabat. Both the African Development Bank and the European Investment Bank are founding partners of the Africa Investment Forum, a platform that advances transformative African projects toward financial close.
Seedstars Africa Ventures I is addressing gaps in early-stage financing across Africa through investments of up to $2 million in seed and series A rounds, with significant follow-on capacity up to $5 million, thereby bridging available pools of capital. By leading successive investment rounds, the fund will catalyse co-investment while offering operational support to start-ups.
The Fund was founded by Maxime Bouan, Tamim El Zein and Bruce Nsereko Lule who have over 45 years of experience investing and working across the continent. Seedstars Africa Ventures is a member of LBO France Group, which played a pivotal role in seeding this initiative as part of their multi asset class African strategy, alongside other initiatives.
Robert Daussun, and Stéphanie Casciola, Chairman and CEO respectively of LBO France said “We are delighted by Seedstars Africa Ventures’ latest milestone, and proud to have been the initial supporter of the team.
“The portfolio the team has built with our support is innovative and transformative, already providing significant impact and value to the continent. LBO France appreciates the opportunity SAV provides for us and our partners to be part of Africa’s growth story.”
“The African Development Bank views Seedstars Africa Ventures as a strategic opportunity to provide innovative support to Africa’s venture capital industry.
“It serves as a conduit to improve access to finance for youth and women while also enhancing the availability of risk capital in Francophone Africa. This is an area that has traditionally faced limited access to risk capital,” said Ahmed Attout, African Development Bank Group Director for Financial Sector Development.
“We welcome the investment of the African Development Bank, our Boost Africa partners, in the Seedstars Africa Ventures fund,” said EIB Vice-President Ambroise Fayolle. “Accelerating digitalisation is a priority for the EIB, and we are committed to supporting African businesses as they drive innovation and prosperity on the continent.”
The fund has already deployed over $10 million to five pioneering African startups in the climate, food systems, energy access, internet connectivity, financial inclusion, and payments infrastructure sectors.
These businesses serve over 60 million people, including by connecting 60,000 households to the internet, supporting 50,000 farmers, and empowering 30,000 individuals with financial inclusion services across eight African countries. The portfolio is also fully 2X compliant, empowering women in startups and ecosystems.
E-Business
Nigeria Records ₦5.81 Trillion Trade Surplus in Q3 2024
National Bureau of Statistics (NBS) reports that Nigeria recorded a trade surplus of ₦5.81 trillion in the third quarter (Q3) of 2024.
A trade surplus occurs when a nation’s exports exceed its imports, reflecting a positive trade balance.
In its report titled Foreign Trade in Goods Statistics (Q3 2024), released on Friday, the NBS stated that Nigeria’s exports totalled ₦20.48 trillion, while imports stood at ₦14.67 trillion. The bureau noted that the country’s total merchandise trade increased by 81% from ₦19.38 trillion in Q3 2023 to ₦35.16 trillion in Q3 2024.
“Nigeria’s total merchandise trade stood at ₦35,160.44 billion in Q3, 2024. This represents an increase of 81.35% compared to the value recorded in the corresponding period of 2023 and a rise of 13.26% over the value recorded in the preceding quarter,” the NBS said.
“In the quarter under review, exports accounted for 58.27% of total trade with a value of ₦20,486.39 billion, showing an increase of 98.00% rise over the value recorded in the third quarter of 2023 (₦10,346.60) and 16.76% compared to the value recorded in Q2 2024 (₦17,545.62).”
The report highlighted that exports were predominantly crude oil, valued at ₦13.4 trillion and accounting for 65.44% of total exports. Non-crude oil exports, including gas, amounted to ₦7 trillion, representing 34.56% of total exports. Non-oil products, such as agricultural commodities, contributed ₦2.5 trillion, or 12.21% of total exports.
The NBS also revealed that imports represented 41.73% of total trade in Q3 2024, amounting to ₦14.6 trillion. “This value indicates an increase of 62.30% compared to the value recorded in Q3 2023 (₦9,041.24 billion) and 8.71% over the value recorded in Q2 2024 (₦13,497.90 billion),” the bureau stated.
In terms of export destinations, Spain, the United States, France, The Netherlands, and Italy emerged as the top five trading partners. “The main export destination was Spain with a value of ₦2,267.83 billion or 11.07% of total exports, followed by exports to The United States of America with ₦1,689.48 billion or 8.25% of total exports, France with ₦1,588.30 billion or 7.75% of total export, The Netherlands with ₦1,434.29 billion or 7.00% of total exports, and exports to Italy with goods valued at ₦1,377.37 billion representing 6.72% of total exports,” the bureau said.
“These five countries collectively accounted for 40.79% of the value of total exports in Q3, 2024.”
On the import side, China remained Nigeria’s largest trading partner, accounting for 24.36% (₦3.57 trillion) of imported goods.
Other top import partners included India (₦1.66 trillion or 11.33%), Belgium (₦1.63 trillion or 11.13%), the United States (₦1.02 trillion or 6.98%), and Malta (₦766 billion or 5.23%)
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