E-Business
TrafficLite App Offers Lagos Traffic Update

Panthelope Technologies, a software application startup has announced the launch of a new application, TrafficLiteApp, a community-based traffic application aimed at providing real-time traffic updates to subscribers on its platform.
The application aimed at easing traffic on Lagos routes, helps to interactively create personal/custom routes which can be shared with friends and contacts on social media.
It provides real time road traffic status offering individuals the chance to see average speed and the total number of road users, this in turn aids in estimating the time of any journey embarked on.
Speaking on the new application, Ikenna Iloeje, founder, Panthelope Technologies, said that the application was built on the need to ease traffic on roads for Nigerians users, Lagos especially.
In his words, “the application helps users get road alerts along their added routes and also assists in providing updates on accidents, traps and hazards on the road, it also helps in saving time, money and aids in improving daily commuting for all”.
TrafficLite helps in seeing real time and history of added friends movement on the map. Users can also save custom routes and share with friends as well as send automatic traffic route reports/alerts.
It can also be used by Tracking/Fleet Management companies to monitor routes/ movement of their vehicles.
The application, designed for the people of Lagos, Port Harcourt, Abuja, currently, is a free-to-download app and is available on Google Play Store, Blackberry App world and IPhone’s IStore.
The app ensures real time traffic reports are delivered on users mobile phone.
Iloeje also said that Traffic Lite is all about contributing to the ‘common good’ out there on the road. It is a community based traffic solution geared to make daily road commute a breeze.
“By connecting drivers, passengers and pedestrians to one another, we help people create local driving communities that work together to improve the quality of everyone’s daily driving. That might mean helping them avoid the frustration of sitting in traffic, cluing them in on traps or shaving five minutes off of their regular commute by showing them new alternative routes they never even knew about”.
So, how does it work?
Iloeje explains: “Traffic Lite features an ever-increasing list of popular routes around Lagos. Once traffic lite has been downloaded, users simply create their profiles, log in and that’s it! By just driving or walking around with the app running passively on their phone they are immensely contributing to traffic and other road data, but they can also take a more active role by sharing road reports on accidents, traps, or any other hazards along the way, helping to give other users in the area a ‘heads-up’ about what’s to come.
“Most importantly, Traffic Lite boasts at top-notch degree of accuracy of its traffic reports. The report shows the actual cumulative speed on the route, actual number of road commuters present on the route, an estimated travel time, route distance and bottlenecks along the route. You can’t go wrong with its report.
“If for some good reason, your regular route is not listed on the popular routes, users can create their own personal routes using the ease to use Google Map. These routes can be shared with friends and other social networks”.
In addition to the local communities of drivers and road commuters using the app, Traffic Lite also features a lightweight social community where users can find friends on Traffic Lite and share current location and histories.
E-Business
FG Mulls Fibre Optic Layout to Bridge Internet Gaps

President Bola Tinubu said that his administration has initiated a project to install fibre optic cables across the country, aimed at enhancing the socio-economic development of Nigeria.
His plans were contained in a speech he delivered at a joint session of the National Assembly in commemoration of Democracy Day on Thursday, June 12.
He said the fibre optic layout is part of other projects being embarked on.
“In addition, we have embarked on an ambitious project to lay fibre optic cables across the nation, a transformative step toward bridging the digital divide and fostering greater connectivity.
“This initiative promises not only to enhance the speed and reliability of internet access but also to revolutionise how businesses operate, how students learn, and how communities stay connected,” Tinubu stated.
He maintained that by extending this critical infrastructure, his government is empowering entrepreneurs, enabling digital education, and providing the tools for our youth to compete in a globalised world.
In a most recent report on Internet connectivity, The ICIR pointed out how Nigeria has faced setbacks in its deployment of fibre optic cables and needs a transformation.
The challenges revolve around vandalism, inadequate coordination between road construction and telecom infrastructure, and varying right-of-way (RoW) charges across states.
Among industry experts, these issues impact network outages, increase repair costs, and hinder broadband expansion efforts.
It has also further threatened the digital economy, leading to slower Internet speeds, dropped calls, and unreliable connectivity among others.
E-Business
African Startups Raised $345m in Funding in May

African startups raised more than $345 million across 65 deals in May, more than double the amount raised in the same period of last year, according to a report by Briter, a research and business intelligence firm.
The report disclosed that both the number of deals and participating companies declined, confirming a growing trend of fewer companies raising funds in larger sizes.
It said fintech attracted the highest share of funding in May, accounting for 34 percent of the total, while cleantech followed closely, driven by a debt deal from Sun King. The company raised $80 million (in local currency) to expand clean energy access in Nigeria.
“Equity remains the primary instrument in terms of total value. There’s no doubt about it; in fact, equity deals with disclosed amounts captured more than half of the total funding volume in May.
“However, debt financing is increasingly proving its weight. Although it accounted for only 8 percent of all deals, it represented 32 percent of the total funding, highlighting the typically larger size of debt transactions. With the rise of specialised vehicles targeting early-stage businesses, debt is becoming an increasingly important part of Africa’s innovation funding landscape,” it said.
Briter’s report added that grants continued to play a vital role in early-stage support, especially in the education technology (EdTech) sector. The Mastercard Foundation led the pack in grant activity, funding a new cohort of EdTech innovators in Nigeria and Kenya. Each selected startup is set to receive $100,000 in grant funding, in addition to mentorship and business development support.
Multilaterals also made a strong showing in May, it said. The Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, issued a $179.6 million guarantee to CleanTech firm KOKO Networks. The support will help scale its clean energy solutions across Kenya.
“This deal not only demonstrates growing international confidence in African climate ventures but also signals a promising pathway for other asset-intensive startups in clean cooking, agriculture, and renewable energy,” the report said.
From a geographic perspective, Egypt emerged as the continent’s fundraising powerhouse for the month, contributing 51 percent of all funding raised. The country recorded 12 deals across equity, debt, and bond instruments. Notably, FinTech platform MNT-Halan raised $50 million through a bond issuance, further illustrating the diversification of capital-raising mechanisms in the region.
Outside Egypt, funding was distributed across Africa’s three other key markets, which are Egypt, Nigeria, and Kenya, with limited activity recorded in countries such as Ghana, Tunisia, Morocco, and Uganda, each registering between one and three deals.
In terms of exits, the African tech landscape continues to mature. Three companies—Baobab+, Qardy, and Shopa—were acquired in May, bringing the total number of exits this year to 22. This already surpasses last year’s count for the same period. Qardy was acquired by Catalyst Partners Middle East (CPME) in a disclosed deal valued at $23 million, the report added.
E-Business
Human Hacking: When Cyber Criminals Target You

By Nancy Werteen
When you get anti-hacking advice, you’ve probably heard “Don’t use a simple password,” or “Don’t plug in that USB you found on the ground.”
But there’s one form of hacking that doesn’t always require a computer, and it costs businesses about 4.88 million dollars a year.
Modern hackers aren’t trying to get into your computer; they’re trying to get into you.
“They’ll try to learn about you a little bit, and they’ll try to use that information against you to try to get you to complete some action, maybe to send somebody some money,” said Kevin Moran, PhD, Assistant Professor of Computer Science, Cyber Security and Privacy Cluster, University of Central Florida.
IBM calls this human hacking, because it exploits human error instead of system error.
“With people just being busy and maybe not very carefully checking some of the emails or the phone calls that they get, can be something unfortunately that people can fall victim to,” said Moran.
Also known as social engineering, this often takes the form of phishing, where the hacker tries to “fish” the information out of you by impersonating family, friends, or even your bank.
There’s also baiting, where the hacker baits you with something of value. Remember the Nigerian prince scam?
That’s a famous example of baiting. There’s also pretexting, where the hacker will claim the victim has already been hacked, and that the hacker can fix it if you just send over your passwords. So, what can you do?
“Just as a rule of thumb, instead of clicking on links and emails, just go to the website yourself. And that will prevent, a lot of these types of attacks from happening,” explained Moran.
Phishing can take many forms.
Spear phishing targets people with access to confidential information, often to get access into an entire business, and whale phishing targets CEOs or political figures.
Search engine phishing is when hackers create fake websites promising services or goods you’ll never receive.
Angler phishing is when hackers create fake social media accounts impersonating famous people or companies.
Finally, vishing and smishing is phishing done through phone calls and texts respectively.
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