E-Business
Raising Startup Funds is No Longer Rocket Science

By Adeniyi Ogunfowoke,
The biggest challenge most entrepreneurs encounter today is raising capital. The underlying fact is that without capital you cannot establish a business no matter the sophistication of your idea.
In the past, the options for raising capital was very narrow: a magnanimous family member offering a loan or you approach your bank for a loan. However, in present-day Nigeria, entrepreneurs whether young or old have a wide array of opportunities to raise business capital. The key role they have to play is to have an impregnable business idea, a scalable and tested product or service and of course, a grounded and impeccable knowledge of the market among others.
A good business you can take a cue from is Jumia. The tech startup recently listed its shares on the New York Stock Exchange. It did not simply arrive at that zenith overnight. The ‘Alibaba of Africa’ has been on the road since 2012 when it launched in Nigeria. It pioneered online shopping in the country. This attracted other investors like MTN, Rocket Internet, AXA, Goldman Sachs, Orange, CDC and more recently Andre Iguodala and Mastercard.
These investments enabled Jumia to expand its innovative solutions to other parts of Africa. You can see the steady and strategic growth of the business.
Therefore, entrepreneurs should note that although raising capital is no longer rocket science, it is important to have a growth plan. This said, here are some of the sources to raise capital without necessarily approaching a bank.
Crowdfunding
Crowdfunding on sites such as GoFundMe, Kickstarter and Indiegogo can give a boost to financing a small business. These sites allow businesses to pool small investments from several investors instead of seeking out a single investment source. Read the rules of different crowdfunding sites before making your choice. Some sites have payment-processing fees or require businesses to raise their full financial goal to keep any of the money raised.
Venture capitalists
Venture capital (VC) is where an outside group takes part ownership of the company in exchange for capital. The percentages of ownership to capital can be negotiated, and are usually based on a company’s valuation. If you go with a VC firm, you will usually receive more than just capital, as some firms provide entrepreneurs with additional resources like hands-on assistance from the firm’s network of advisors and accelerators.
Angel investors
Many think that angel investors and venture capitalists are one and the same, but there is one difference. While venture capitalists are companies (usually large and established) that invest in your businesses by trading equity for capital, an angel investor is an individual investor who is more likely to invest in a startup or early-stage business that may not have demonstrable growth like a VC would want.
Quick loans
Banks are no longer the lone source for loans unlike in the past. There are now startups that offer individual and business loan even quicker than the banks. You can get 2 to 4 million naira without collaterals within 24 hours as long as you meet the requirements for securing the loan.
E-Business
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials

Kaspersky has uncovered a new phishing scheme that abuses legitimate Google Tasks notifications to trick corporate users into revealing corporate login credentials.

By leveraging Google’s trusted @google.com email domain and notification system, attackers bypass traditional email security filters and exploit users’ trust in familiar services.
In this campaign, victims receive an authentic-looking notification from Google Tasks with the subject line “You have a new task.” The message creates the illusion that the recipient’s company has adopted Google’s task management tool, pressuring them to act quickly. The notification often includes elements of urgency, such as a high-priority flag and a tight deadline, to prompt the victim’s immediate response.
Upon clicking the embedded link, users are directed to a fraudulent form disguised as an “employee verification” page, where they are asked to enter their corporate credentials under the pretense of confirming their status. These stolen credentials can then be used for unauthorised access to company systems, data theft, or further attacks.
“Google’s vast ecosystem of services gets exploited by scammers. The scheme with Google Tasks is part of a broader trend observed before and continuing into 2026, where cybercriminals misuse legitimate platforms to distribute scams and phishing.
Notifications originating from legitimate domains naturally evade many spam and phishing filters, while the social engineering aspect – making it seem like an internal company process – lowers the victim’s guard,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.
E-Business
esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa

Cyber adversaries targeting African organisations are increasingly shifting away from opportunistic attacks toward deliberate, sector-specific campaigns aimed at the continent’s most critical digital infrastructures, according to the esentry 2025 Annual Report released by esentry, Lagos-based Africa’s leading indigenous Managed Security Service Provider (MSSP).

The report identifies healthcare, financial services, and telecommunications as the primary staging grounds for high-velocity cyberattacks, reflecting a growing focus on sectors that underpin economic stability, public welfare, and digital connectivity across Africa.
The findings are drawn from one of the largest cybersecurity datasets analysed in the region. Over the course of 2025, esentry processed more than 31 billion security events, generating 3.5 million alerts and successfully blocking over 15,000 malicious attempts. This monitoring scale shows that, while traditional financial institutions remain a core target, the threat landscape has expanded to include digital lending platforms, healthcare systems that store sensitive personal data, and telecom operators responsible for national and regional connectivity.
Within the healthcare sector, the report highlights ransomware as the most acute risk, with attackers frequently exploiting exposed Remote Desktop Protocol (RDP) services to compromise patient data and disrupt essential medical operations. In financial services, organisations are facing a surge in credential abuse, insider-related threats, and info-stealer malware designed to enable fraud and unauthorised access. Telecommunications providers are increasingly targeted by highly tailored phishing campaigns and attacks on exposed web services, which aim to harvest credentials and compromise customer data.
Commenting on the findings, Gbolabo Awelewa, Chief Business Officer at esentry, said the nature of cyber threats across Africa has evolved significantly. “The threats we are seeing today are deliberate, informed, and carefully tailored to local enterprises. Attackers are exploiting trusted access and moving quietly within networks, which makes early detection critical. Our coordinated cybersecurity model, spanning Defence, Intelligence, Offence, and Security Engineering, allows us to combine scale, speed, and deep contextual insight to detect and neutralise threats before they escalate,” Awelewa said.
A defining trend identified in the report is the shift from overt system exploitation to the abuse of legitimate access. By leveraging compromised credentials and ‘living-off-the-land’ techniques, attackers can blend into routine enterprise operations and significantly delay detection. This approach has compressed the attack lifecycle, enabling adversaries to move from initial access to full operational impact in fewer than 15 days.
To counter this acceleration, the report emphasises the importance of early detection and automated response. esentry says it currently contains low-complexity incidents in under 90 seconds, using a combination of structured threat hunting and centralised telemetry to anticipate and absorb attacker pressure rather than reacting after damage has occurred.
As African organisations continue to digitise, the esentry 2025 Annual Report positions itself as a critical reference point for understanding the continent’s evolving cyber threat environment. The report concludes that protecting Africa’s digital trust will require a shift away from fragmented security tools toward disciplined, coordinated defence frameworks, what esentry describes as a unified Phalanx formation.
E-Business
AfDB, UNDP Launch $10Bn AI Initiative for Africa

The African Development Bank Group (AfDB) and the United Nations Development Programme (UNDP) have launched an ambitious $10 billion project to support the adoption of Artificial Intelligence (AI) across the continent.

The 10 Billion Initiative intends to accelerate ethical AI adoption and inclusive digital economic growth in Africa.
The initiative follows the Nairobi AI Forum, which took place earlier this month in Kenya and brought together governments, private sector leaders, development partners, and tech innovators to define pathways for impactful AI adoption.
According to the organisations, the strategy is a co-designed collaboration between the Bank Group, UNDP, and commercial partners that aims to raise up to $10 billion by 2035.
The resources will be used to create up to 40 million new jobs across the continent by 2035, through targeted investments that provide the groundwork for AI and accelerate widespread adoption in everything from entrepreneurship and regional data infrastructure to policy frameworks and skill development.
Nicholas Williams, AfDB Group ICT operations division manager, commented: “As a leading multilateral development institution, the bank is leveraging its comparative advantage to ensure Africa is not left behind in the AI era.
“The AI 10 Billion Initiative paves the way for expanded partnerships and sustained investments that will accelerate AI entrepreneurship, strengthen data and infrastructure ecosystems, and support inclusive growth across the continent.”
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