Robin Capital Hits €15 Million Final Close for Solo GP-Led VC Fund
German-based Robin Capital raises €15 million for its Solo GP-led VC fund, focusing on European B2B mid-market enterprise SaaS startups in the DACH region.
Taylor Brooks
Nigerian government websites are under intense pressure as hackers have stepped up their attacks, with the Nigerian Bureau of Statistics (NBS) being the latest victim. The NBS, responsible for collecting and analyzing statistical data on the country's economy, governance, and development, had its website hacked, with the attackers seizing control of the platform.
This latest incident marks a disturbing trend in Nigeria, where government ministries, financial institutions, and telecom companies have fallen prey to cybercriminals. The Nigerian Communications Commission (NCC) and National Information Technology Development Agency (NITDA) have frequently issued warnings about the increasing threat of cyberattacks, targeting individuals, government entities, banks, and telecom companies.
The financial impact of cybercrime in Africa is staggering, with INTERPOL estimating it to be over $4 billion, equivalent to approximately 10% of the continent's total gross domestic product. The average cost of ransomware attacks has also increased by 13% in 2023, reaching $5.13 million, according to an IBM report.
The NBS incident is not an isolated case. In the past, entities like the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), and National Broadcasting Commission (NBC) have fallen victim to cyberattacks. In 2020, the EFCC reported attempts to breach its website, while hackers seized the NBC's Twitter account and posted messages critical of the government during the ENDSARS protests.
In 2021, the NCC issued a warning about an impending attack by an Iranian group, known as Lyceum, which targets telecoms, Internet Service Providers, and Ministries of Foreign Affairs in Nigeria and other African countries. The same year, servers of the National Identity Management Commission (NIMC) were breached, and over three million National Identity Numbers of Nigerians were stolen.
The surge in cybercrime activity has significant implications for businesses, governments, and individuals across the continent. Recently, Namibia's state-owned telecom company suffered a ransomware attack, leading to the leak of sensitive customer data, including information about top government officials. Other notable cyberattacks in Africa include incidents targeting Porsche South Africa's Johannesburg headquarters, the South African division of the global credit bureau TransUnion, Ghana's largest electricity provider, the Electricity Company of Ghana (ECG), and central banks in Zambia and South Sudan.
As of the time of writing, the NBS website is yet to be recovered. The incident highlights the need for African governments and institutions to prioritize cybersecurity and take proactive measures to protect their digital infrastructure from the growing threat of cybercrime.
The Nigerian government and its agencies must take immediate action to address the vulnerability of their websites and protect the sensitive data of citizens. The alarming surge in cybercrime in Africa demands a collective response from governments, businesses, and individuals to combat this menace and ensure the safety of the digital ecosystem.
German-based Robin Capital raises €15 million for its Solo GP-led VC fund, focusing on European B2B mid-market enterprise SaaS startups in the DACH region.
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