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VC4Africa’s DEMO Africa 2014 Begins Tomorrow

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The all important DEMO Africa 2014 begins tomorrow in Lagos and VC4A Investor Summit at DEMO Africa in Lagos is expected to create opportunities for 14 Nigerian start-ups among 40 from Africa, to meet investors, among other interesting stories from the event.

Dr. (Mrs) Omobola Johnson will lead other guests at the opening of the event.

VC4Africa presents the Investor Summit the “Future of Angel Investing in Africa” the first time angel investors come together from across the continent to connect as a Pan-African network.

Speakers and panelists include Jason Njoku (iROKO, Spark), Tomi Davies (Lagos Angels Network), Baybars Altuntas (European Business Angel Network), Leonard Stiegeler (Ringier), Dipo Adebo (Angel investor), Dehab Ghebreab (US State Department), Collins Onuegbu (Lagos Angels Network), Sylvia Brune (88MPH), Viktor Okigbo (IDEA Nigeria), Dr. Inderpal Mumick (Kirusa), Tope Ajao (Leadpath), Ben White (VC4Africa) and others.

Over thirty investors have confirmed their attendance.

These investors, both local and international, include angel investors, impact investors, venture capital funds, and corporate venture capital actors; all focused on early stage SME investing in Africa.

The Wednesday afternoon Investor Summit will conclude with an exclusive (investor-only) cocktail on the evening of September 24.

After this, on Thursday and Friday, September 25 & 26, Africa’s Top 40 innovative entrepreneurs will launch their new products on stage at the DEMO Africa event. All this takes place at the Oriental Hotel in Lagos, Nigeria.

Entrepreneur and investor community VC4Africa initiates the Investor Summit at DEMO Africa following the Investor Roundtable VC4Africa organized & co-chaired at the 5th EU-Africa Business Forum earlier this year.

Ben White, VC4Africa’s CEO and Founder, said, “Going into the third year of DEMO Africa, we are excited to introduce a new exclusive investor-only event as part of the DEMO Africa 2014 event. This is the next step in making sure the leading innovators from across the continent are going to get the backing they need to achieve scale. At the same time, we see angel networks emerging across the continent. Now is the time to bring them together in a shared conversation about how best to move forward.”

The program of the Investor Summit focuses on knowledge exchange between the continent’s various angel investors and angel investor networks and focuses on the road-map of the future of angel investing in Africa.

The event is then followed by 40 demo presentations by the continent’s top up and coming entrepreneurs at DEMO Africa.

After a word of welcome by DEMO Africa’s executive producer Harry Hare (DEMO Africa), David van Dijk (VC4Africa) will set the scene for the Investor Summit afternoon, followed by Jason Njoku (iROKO, SPARK) who will deliver the key note “Lessons learned from investing in Africa”.

A case study of a recent angel investment deal will be presented by entrepreneur Tunji Owolabi (CEO of Hutbay) together with his lead investor Dipo Adebo (Nigerian angel investor).

This is an exciting opportunity to hear about the process of closing a deal both from the viewpoint of the involved investor and entrepreneur!

Two Sage Panels will focus on “The Current State of Angel Investing in Africa” and “Moving Forward – The Roadmap for the Future”. The panelists of the first panel are Collins Onuegbu (Lagos Angels Network), Sylvia Brune (88MPH), Dr. Inderpal Mumick (CEO Kirusa), Tope Ajao (Leadpath).

The panelists of the second panel are Viktor Okigbo (IDEA Nigeria), H. Tomi Davies (Lagos Angels Network), Baybars Altuntas (EBAN), Leonard Stiegeler (Ringier). Both panels are moderated by Ben White (VC4Africa).

Also part of the program is a presentation by Baybars Altuntas of the European Business Angel Network.

He will share best practices from European angels and present an exciting initiative to launch a Pan-African Business Angel Network, following the successful launch of similar regional networks in the Middle East and Eastern Europe.

After final conclusions the participants are invited to a closed (investor only) cocktail to talk more.

 

 


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E-Business

Kaspersky Experts Warn of the Risks Hidden Behind QR Codes

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In today’s digital world, QR codes are placed on almost everything – from yogurt containers and restaurant menus to museum exhibits, and even utility bills and parking lots.

People use them to open websites, download apps, collect loyalty programme points, make payments and transfer money, and even for charity donations. The accessible and practical technology is convenient for many, including cybercriminals, who have already rolled out a variety of QR-based schemes.

Kaspersky experts have identified the top security risks when scanning QR codes:

  • Phishing and redirection to malicious sites: QR codes can direct users to fraudulent websites designed to steal personal or financial information, such as passwords and credit card numbers. Attackers can impersonate legitimate sites, such as banks or streaming services, and trick users into entering their credentials.
  • Malware download: Some QR codes can trigger the download of malicious applications that compromise the security of the user’s device, especially if it is not protected against unauthorised installation.
  • Payment fraud: During special events or sales periods like holiday sales, a fake QR code can redirect users to make payments to fraudulent accounts.
  • Unsafe automatic connections: A QR code can also automatically connect the user to Wi-Fi networks controlled by cyber attackers, allowing them to intercept their communications.

“QR codes are a fertile ground for potential manipulation, especially as they appear in various everyday contexts such as receipts, flyers, and signage. Attackers have nearly endless possibilities to exploit them.

“As these codes have already become an integral part of our daily lives, it is essential for users to know how to use them safely and responsibly,” says Seifallah Jedidi, Head of Consumer Channel for META at Kaspersky.

In order to not fall for a scam when scanning a QR code, Kaspersky experts recommend:

  • Verify the source: Scan QR codes only from trusted and known sources. Avoid scanning codes in public places that may have been tampered with.
  • Check the URL: If you really need to scan a publicly available code, verify that the web address it directed you to is legitimate before taking any action on this website.
  • Don’t share personal information: Avoid entering sensitive information if you’re not completely sure of the origin of the QR code.
  • Protect your digital life: Install a cybersecurity solution with anti-phishing and anti-fraud protection, such as Kaspersky Premium, on all your devices; it will alert you to any danger timely.

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Firm Highlights Top Risks of Quantum Computing

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Kaspersky is addressing one of the most debatable technological challenges of the coming decade: the rise of quantum computing and its potential impact on digital security.

In this context, experts have identified the main quantum threats that demand immediate action from the cybersecurity community.

As classical computers approach their physical limits, their performance growth is slowing — constraining progress in areas that depend on complex computation.

At the same time, quantum computers offer the potential to solve specific problems far faster than classical systems. For now, however, their practical use remains limited to narrow and experimental domains.

Nevertheless, experts estimate that we may see a fully fault-tolerant quantum computer within the next decade — a development that could unlock significant advances, but also unleash a new era of cybersecurity threats.

Supporting this urgency, Deloitte’s 2024 Global Future of Cyber Survey reports that 83% of organizations are already assessing or taking steps to address quantum computing risks, demonstrating growing awareness and proactive strategies in the private sector.

To better understand the scope of the evolving threat, Kaspersky has identified three of the most urgent quantum-related risks that demand action from the cybersecurity community:

The top three risks:

Quantum computers could be used to compromise the traditional encryption methods that currently protect data in countless digital systems — posing a direct threat to global cybersecurity infrastructures.

Threats include the interception and decoding of sensitive diplomatic, military, and financial communications, as well as the real-time decryption of private negotiations – something quantum systems could handle much faster than classical machines, turning secure conversations into open books.

  1. Store now, decrypt later: the key threat of the coming years

Threat actors are already harvesting encrypted data today, with the intention of decrypting it in the future once quantum capabilities advance. This “store now, decrypt later” tactic could expose sensitive information years after it was originally transmitted — including diplomatic exchanges, financial transactions, and private communications.

  1. Sabotage in blockchain and cryptocurrency

Blockchain networks are not immune to quantum threats. Bitcoin’s Elliptic Curve Digital Signature Algorithm (ECDSA), which relies on elliptic curve cryptography (ECC), is especially vulnerable.

Potential risks include forging digital signatures, which threatens Bitcoin, Ethereum, and other cryptocurrencies; attacks on ECDSA that secure crypto wallets; and tampering with blockchain transaction history, undermining trust and integrity.

  1. Quantum-resistant ransomware: a new front

Looking ahead, developers and operators of advanced ransomware may begin adopting post-quantum cryptography to protect their own malicious payloads. So-called “quantum-resistant” ransomware would be designed to resist decryption by both classical and quantum computers — potentially making recovery without paying a ransom nearly impossible.

At present, quantum computing does not offer a way to decrypt files locked by current ransomware. Data protection and recovery still rely on traditional security solutions and collaboration among law enforcement agencies, quantum researchers, and international organisations.

Building quantum-safe defenses

Quantum computers are not yet a direct threat — but by the time they are, it may be too late to respond. Transitioning to post-quantum cryptography will take years. Preparations must begin today.

The cybersecurity community, IT companies, and governments must coordinate to address the risks ahead. Policymakers should develop clear strategies to migrate to post-quantum algorithms. Businesses and researchers need to begin implementing new security standards now.

“The most critical risk lies not really in the future, but in the present: encrypted data with long-term value is already at risk from future decryption. The security decisions we make today will define the resilience of our digital infrastructure for decades.

“Governments, businesses, and infrastructure providers must begin adapting now, or risk systemic vulnerabilities that cannot be retroactively fixed,” states Sergey Lozhkin, Head of Kaspersky Global Research & Analysis Team for META and APAC.


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AI Slows Down some Experienced Software Developers, Study Finds

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Contrary to popular belief, using cutting-edge artificial intelligence tools slowed down experienced software developers when they were working in codebases familiar to them, rather than supercharging their work, a new study found.

AI research nonprofit METR conducted the in-depth study, on a group of seasoned developers earlier this year while they used Cursor, a popular AI coding assistant, to help them complete tasks in open-source projects they were familiar with.

Before the study, the open-source developers believed using AI would speed them up, estimating it would decrease task completion time by 24%. Even after completing the tasks with AI, the developers believed that they had decreased task times by 20%. But the study found that using AI did the opposite: it increased task completion time by 19%.

The study’s lead authors, Joel Becker and Nate Rush, said they were shocked by the results: prior to the study, Rush had written down that he expected “a 2x speed up, somewhat obviously.”

The findings challenge the belief that AI always makes expensive human engineers much more productive, a factor that has attracted substantial investment into companies selling AI products to aid software development.

AI is also expected to replace entry-level coding positions. Dario Amodei, CEO of Anthropic, recently told Axios that AI could wipe out half of all entry-level white collar jobs in the next one to five years.

Prior literature on productivity improvements has found significant gains: one study found using AI sped up coders by 56%, another study found developers were able to complete 26% more tasks in a given time.

But the new METR study shows that those gains don’t apply to all software development scenarios. In particular, this study showed that experienced developers intimately familiar with the quirks and requirements of large, established open source codebases experienced a slowdown.

Other studies often rely on software development benchmarks for AI, which sometimes misrepresent real-world tasks, the study’s authors said.

The slowdown stemmed from developers needing to spend time going over and correcting what the AI models suggested.

“When we watched the videos, we found that the AIs made some suggestions about their work, and the suggestions were often directionally correct, but not exactly what’s needed,” Becker said.

The authors cautioned that they do not expect the slowdown to apply in other scenarios, such as for junior engineers or engineers working in codebases they aren’t familiar with.

Still, the majority of the study’s participants, as well as the study’s authors, continue to use Cursor today.

The authors believe it is because AI makes the development experience easier, and in turn, more pleasant, akin to editing an essay instead of staring at a blank page.

“Developers have goals other than completing the task as soon as possible,” Becker said. “So they’re going with this less effortful route.”

 


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