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General News

Small Business Storage Solutions for Growing Productivity Needs

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By Ghassan Azzi

Around the world, Small and Medium Entreprises (SME) have proved to be the backbone of economies. In Nigeria, the case is not different with data1 revealing that SMEs contribute about 49% to the national GDP.

In addition, SMEs account for about 96% of the total number of businesses in the country and employ approximately 84% of the local workforce in Nigeria. For this sector and the economy, the lockdown necessitated by the Coronavirus pandemic meant a new level of economic depression. This added to the many challenges facing SMEs in Nigeria.

One factor which indicates the improvement of the competitiveness of many enterprises is the usage of Information Technology in managing their business. In Nigeria, the impact of IT on SMEs operation performance has not been greatly explored.

In this information age manual operations is beginning to be inefficient with time and labour. Likewise, the new way of work necessitated by the Coronavirus pandemic has forced many SMEs in Nigeria to imbibe the use of information technology in order to survive.

The way we work and learn changed significantly in 2020 and it’s still evolving. In a flash, remote work has become the new norm. This massive shift means productivity and efficiency are changing everywhere and for everyone.

However, working from home does not take away the requirements for data and files to be efficiently managed and for workers to stay productive – from work documents to family photos to music and movie archives and more.

Doing so goes beyond simply storing data, to backing up data. One of the main ways to accomplish this goal is with network-attached storage (NAS). In a NAS system, data is centrally stored on a handful of bays, typically filled with hard disk drives (HDDs) or solid-state drives (SSDs).

Creating a robust NAS infrastructure is a necessity for backup, data protection, remote access and digital collaboration. There is now a spotlight on the need for storage solutions that offer high capacity, throughput, and reliability.

The increase in storage capacity also means that some users can take advantage of NAS systems with fewer bays, while others won’t have to upgrade to a higher-bay system when they run out of space.

Western Digital has designed and tested certain HDDs for NAS environments, keeping the productivity requirements of content creators and businesses at the core.

Since the range of use cases for NAS has become increasingly diverse, we are now making it easier for users to match the right drive with their applications and workloads – from moderate small office/home office (SOHO) workloads to intensive small- and medium-business (SMB) use, as well as more demanding environments.

Demands to store, share, and access personal data are increasing. As a result, NAS devices are tasked with balancing scalable performance and affordable cost. Now, NAS applications for small office and home office (SOHO) can get a huge performance boost from SATA SSDs that are robust enough for most users, yet significantly faster than any HDD. Our WD Red™ SA500 is one example.

The Right Drive for SOHO Users

From our experience, many SOHO users rely on their systems for office file sharing, home backup or content archiving.

Throughput and capacity are key considerations in these types of SOHO environments and WD Red Plus drives are built and tested for SOHO NAS systems. These drives give you the flexibility, versatility, and confidence in storing and sharing your personal home and work files.

For the Demands of Big Business

WD Red Pro drives, including the latest 16TB and 18TB capacities, are designed specifically with medium to large-scale business customers in mind and are available for up to 24-bay NAS systems.

Engineered with CMR recording technology at 7200RPM to handle high-intensity workloads in 24×7 environments, WD Red Pro drives are ideal for archiving and sharing, as well as RAID array rebuilding on extended operating systems such as ZFS or other file systems.

These drives add value by enabling employees to quickly sync and share their files, including backup folders, reliably in their NAS solution, thereby increasing productivity and efficiency.

Built for Optimum NAS Compatibility and Larger NAS Bay Shock Protection

WD Red Pro drives with NASware technology take the guesswork out of selecting a drive. Optimized for NAS systems, the unique algorithm balances performance and reliability in NAS and RAID environments. Simply put, a WD Red Pro drive is one of the most compatible drives available for NAS enclosures.

WD Red Pro drives are equipped with a multi-axis shock sensor that automatically detects subtle shock events and dynamic fly height technology, which adjusts each read-write function to compensate and protect the data.

This combination of technology further protects the drives in larger 24-bay NAS environments and helps increase hard drive reliability. Built specifically for RAID and NAS environments, WD Red™ Pro drives come equipped with error recovery controls as part of NASware™ 3.0 technology to help reduce drive fallout in RAID applications.

As a leader in HDD and flash technologies, we are committed to addressing the evolving needs of our customers and to offering the right technology for each implementation. This philosophy launched WD Red drives years ago, and they have been a leader in their field ever since.

We continue engaging customers and partners and analyzing real-world data to offer a family of WD Red NAS drives – from HDDs to SSDs – that serve a variety of workloads and applications.

Ghassan Azzi is Sales Director, Africa at Western Digital


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General News

Moove Plans to Raise $1.2Bn Debt Round for US Autonomous Vehicle Expansion

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Moove, an African mobility fintech startup, is on a quest to secure a $1.2 billion debt financing round to support the rollout of a fleet of autonomous vehicles.

This is in partnership with Alphabet Inc.’s Waymo in the United States, according to a Bloomberg report citing sources familiar with the matter.

The startup has since attracted backing, including from Uber Technologies Inc., and entered a strategic partnership with Waymo in December 2024 to provide financing for self-driving cars.

Ladi Delano, co-founder of Moove, noted that the company has a solid financial track record.

“Moove has built strong relationships with some of the world’s leading lenders. We have also fully repaid our first-ever debt facilities, which signals our maturity and marks a key milestone that demonstrates the strength of our platform as we enter the next phase of global autonomous-vehicle infrastructure deployment,” he said.

The round is reportedly oversubscribed, with strong participation from private credit firms and banks.

Waymo has also not made any official statement regarding the funding round. While final details are expected to be concluded in the coming weeks, the deal will mark a significant milestone for the firm as it ramps up its global ambitions.

Founded in 2020 by Nigerian entrepreneurs, Ladi Delano and Jide Odunsi, Moove began by providing vehicle financing for ride-hailing drivers in Africa’s largest cities.

 


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Firm Explores the Evolution of AI-powered Ransomware with Password-gated Capabilities

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Kaspersky experts have revealed the inner workings of FunkSec — a ransomware group that illustrates the future of mass cybercrime: AI-powered, multifunctional, highly adaptive and operating on volume with ransoms as low as $10,000 to maximise profits.

Kaspersky’s Global Research and Analysis Team (GReAT) constantly monitors the ransomware threat landscape, where attacks continue to rise. According to the company’s latest State of Ransomware report, the share of users affected by ransomware attacks worldwide increased to 0.44% from 2023 to 2024, up by 0.02 percentage points.

While this percentage may appear modest compared to other cyber threats, it reflects the fact that attackers typically prioritise high-value targets rather than mass distribution, making each incident potentially devastating. Within this evolving landscape, FunkSec has emerged as a particularly concerning threat.

Active for less than a year since its emergence in late 2024, FunkSec has quickly surpassed many established actors by targeting government, technology, finance and education sectors. What sets FunkSec apart is its sophisticated technical architecture and AI-assisted development.

The group packages full-scale encryption and aggressive data exfiltration into a single Rust-based executable, capable of disabling over 50 processes on victim machines and equipped with self-cleanup features to evade defenses.

Beyond its core ransomware functionality, FunkSec has expanded its toolkit to include a password generator and a basic DDoS tool — both showing clear signs of code synthesis using large language models (LLMs).

FunkSec’s approach reflects the evolving landscape of mass cybercrime, combining advanced tools and tactics. Kaspersky’s GReAT experts highlight the key features that define their operations:

Password-Controlled functionality

GReAT experts discovered that FunkSec ransomware features a unique password-based mechanism that controls its operation modes. Without a password, the malware performs basic file encryption, while providing a password activates a more aggressive data exfiltration process in addition to encryption to steal sensitive data.

FunkSec packs full-scale encryption, local exfiltration and self-cleanup into a single Rust binary—without a side-loader or a companion script. That level of consolidation is uncommon and gives affiliates a plug-and-play tool they can deploy almost anywhere.

Use of AI in development

Code analysis shows that FunkSec is actively using generative artificial intelligence to create its tools. Many parts of the code seem to be automatically generated rather than manually written. Signs of this generic placeholder comments (such as “placeholder for actual check”) and technical inconsistencies, like commands for different operating systems that don’t align properly. Additionally, the presence of declared but unused functions—such as modules included upfront but never utilised — reflects how large language models combine multiple code snippets without pruning redundant elements.

“More and more, we see cybercriminals leveraging AI to develop malicious tools. Generative AI lowers barriers and accelerates malware creation, enabling cybercriminals to adapt their tactics faster.

By reducing the entry threshold, AI allows even less experienced attackers to quickly develop sophisticated malware at scale,” comments Marc Rivero, Lead Security Researcher at Kaspersky’s GReAT.

High-volume, low-ransom strategy

FunkSec demands unusually low ransom payments, sometimes as little as $10,000, and pairs this with the sale of stolen data at discounted prices to third parties. This strategy appears designed to enable a high volume of attacks, helping the group quickly establish its reputation within the cybercriminal underground. Unlike traditional ransomware groups that seek million-dollar ransoms, FunkSec employs a high-frequency, low-cost model — further underscoring its use of AI to streamline and scale operations.

Expands beyond ransomware

FunkSec has expanded its capabilities beyond the ransomware binary. Its dark leak site (DLS) hosts additional tools, including a Python-based password generator designed to support brute-force and password-spraying attacks, as well as a basic DDoS tool.

Advanced evasion

FunkSec employs advanced evasion techniques to avoid detection and complicate forensic analysis. The ransomware is capable of stopping over 50 processes and services to ensure thorough encryption of targeted files. Additionally, it includes a fallback mechanism to execute certain commands even if the user launching FunkSec lacks sufficient privileges.

 


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IMF Raises Nigeria’s 2025 GDP Growth Forecast to 3.4%

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International Monetary Fund (IMF) has projected a 3.4 percent expansion in Nigeria’s real Gross Domestic Product (GDP) for 2025, following the conclusion of its annual Article IV consultation with the country.

The IMF announced the forecast in a statement on Wednesday, highlighting progress in macroeconomic reforms while cautioning about persistent vulnerabilities.

The Article IV consultation is a regular assessment of a country’s economic performance and policy framework by the IMF’s executive board. The latest review reflects cautious optimism about Nigeria’s economic trajectory amid ongoing reform efforts.

According to the IMF, Nigeria’s growth in 2024 reached 3.4 percent, mainly driven by increased hydrocarbon production and a robust services sector. However, agricultural output remained subdued due to security challenges and falling productivity.

The IMF expects the positive momentum to continue into 2025, supported by the start of operations at a new domestic refinery, higher oil production, and sustained performance in services. It projected that medium-term growth would remain around 3.5 percent, buoyed by domestic reforms despite an uncertain global environment.

“The Nigerian authorities have implemented major reforms over the past two years which have improved macroeconomic stability and enhanced resilience,” the Fund stated. “The authorities have removed costly fuel subsidies, stopped monetary financing of the fiscal deficit, and improved the functioning of the foreign exchange market.”

The IMF said investor confidence has improved, noting Nigeria’s successful re-entry into the Eurobond market and the resumption of portfolio inflows. However, it acknowledged that poverty and food insecurity have worsened, pushing the government to prioritize inclusive growth.

The report also highlighted positive trends in external reserves, foreign exchange market stability, and inflation. It noted that inflation dropped to 23.7 percent year-on-year in April 2025 from an annual average of 31 percent in 2024, based on the rebased Consumer Price Index released by the National Bureau of Statistics.

“Naira stabilization and improvements in food production brought inflation to 23.7 percent… Inflation should decline further in the medium-term with continued tight macroeconomic policies and a projected easing of retail fuel prices,” the IMF said.

On the fiscal front, the Fund said revenue gains from currency depreciation, improved administration, and higher grants helped offset rising interest payments and administrative costs, leading to improved fiscal performance in 2024.

Despite the progress, the IMF warned of growing risks. It said falling global oil prices or rising financing costs could negatively impact Nigeria’s economic stability. “A further decline in oil prices or increase in financing costs would adversely affect growth, fiscal and external positions, undermine financial stability and exacerbate exchange rate pressures,” it said.

The IMF further cautioned that any deterioration in domestic security could derail growth and worsen food insecurity across the country.


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