Kaspersky, a global leader in next-generation cybersecurity solutions and services, has ranked South Africa and Nigeria as the most attacked nations online in Africa.

In its latest report, Kaspersky listed South Africa as the 82nd most attacked nation globally while Nigeria and Kenya were ranked as the 50th and 35th, respectively.

According to the leading cybersecurity company, these three nations are becoming key targets for cyber threats.

Speaking on the development, the Head of the Global Research & Analysis Team (GReAT) for META at Kaspersky, Dr. Amin Hasbini explained businesses in the African region need to be cautious.

He said “Criminal attacks are mainly driven by the pursuit of financial profit, whereas advanced attacks indicate how cyber threat actors continually adapt their tactics and tools to breach security measures. A significant portion of the attacks witnessed across Africa are shaped by the rapidly changing geopolitical landscape. However, a growing concern is that cybercriminals are learning from successful advanced attacks to refine their craft.

“Threats to critical infrastructure, financial institutions, government entities, and service providers have predominated the cyber threat landscape over the past year. We have witnessed different threat actors target various businesses across industries.”

The report further disclosed that in the first quarter of 2023, South Africa received 106,000 attack attempts via backdoor and spyware, the two main types of attack in Africa.

While in Nigeria, total attempts of 46,000 were made and 143,000 were recorded in Kenya.

Hasbini added, “Threats to critical infrastructure, financial institutions, government entities, and service providers have predominated the cyber threat landscape over the past year. We have witnessed different threat actors target various businesses across industries.

“Businesses should consider leveraging advanced technologies such as threat feeds, security information and event management systems, endpoint detection and response solutions, and tools with digital forensics and incident response features. It is vital to understand that cyber security measures are an ongoing endeavour – and that there is no universal solution to secure a corporate network or data.”

Nigerian fintech company Flutterwave has partnered with Token.io, Europe’s leading account-to-account payment infrastructure provider, to make it easier and faster for Africans in the UK and EU to transfer money back home.

This partnership will see Flutterwave integrate Pay By Bank transfer functionality on its platform to enable African e-commerce merchants to reach a wider audience. Pay By Bank commonly known as A2A payments is a fast and secure way to money between bank accounts.

Similarly, Token.io can now leverage Flutterwave’s presence in Africa to roll out its Pay By Bank option for companies across the continent. The A2A payments also offer merchants cost savings compared to traditional payment methods and settle instantly to improve cash flow.

Speaking of its partnership with Token.io, Flutterwave CEO Olugbenga Agboola said,

“Our partnership with Token.io will make it even faster and easier for individuals and businesses to pay and receive money. By partnering with Token.io to provide Account-to-Account payments to our customers, Flutterwave will advance its mission of connecting Africa to the global economy.”

Also commenting on its collaboration with Fluttewave, CEO of Token.io Todd Clyde said,

“We are confident that Token.io’s infrastructure will help Flutterwave offer its customers a more comprehensive payment solution, with A2A payments being a key part of this for UK, Europe, Middle East, and Africa corridors. This partnership underscores our commitment to enabling payment providers to grow with open banking powered A2A payments, which are projected to exceed 6.5 billion in annual global volumes by 2027.”

Powered by open banking, Token.io’s A2A infrastructure enables payment provider to launch their own A2A payment capabilities to grow their market share. Token.io offers the highest performing and deepest connectivity for open banking-powered A2A payments in the industry, reaching over 567 million bank accounts (80%+ of accounts per market) in 16 European countries.

Investors King understands that Pay By Bank functionality will soon be available on Send by Flutterwave, Flutterwave’s cross-border payment platform. 

Unlimit, the leading global fintech and payment solutions company, is thrilled to announce its entry into the Kenyan market and the receiver of the Central Bank of Kenya license, marking a significant milestone in its ongoing expansion throughout Africa.

This strategic move follows Unlimit’s recent acquisition of the Central Bank of Nigeria license, solidifying the company’s official recognition as a reputable provider of payment solutions within the region.

As part of its strategic expansion, Unlimit is committed to delivering an unparalleled payment experience by integrating internationally acclaimed payment best practices, industry-leading security protocols, comprehensive merchant analytics, and a customer-friendly interface.

By offering diverse payment solutions, Unlimit will cater to the preferences and support the unique requirements of local enterprises in Kenya. This milestone demonstrates Unlimit’s dedication to advancing the payment landscape in Africa and empowering businesses with cutting-edge payment solutions.

Trevor Goott, Director for Africa, and India at Unlimit, expressed immense enthusiasm about the company’s African expansion and its entry into the Kenyan market. “It gives me great pleasure to bring on board Kenya as our second African country, following the recent announcement of the awarding of our Nigerian license,” said Goott.

“We are also pleased to add Kenya to our global portfolio for our foreign merchants seeking access to the Kenyan market. The high demand from our international merchants to establish local operations in Kenya has further motivated us to enter the market. Also, given its strategic location in East Africa, Kenya serves as an ideal hub for the expansion of our operations in the region.”

Commenting on the expansion, Unlimit’s CEO, Kirill Evstratov, said: “We have ambitious plans for Kenya and East Africa, and are looking forward to supporting local businesses on their expansion goals. For 14 years we have successfully been aiding companies worldwide to enter new markets and go beyond borders, strengthening their business outreach and expanding their customer base. Now, we are bringing those years of expertise to Africa. Our unwavering ambition is to establish ourselves as the benchmark in the payments processing industry, setting the standard for excellence and innovation, and allowing companies around the globe to go borderless with their payments. ”

Over the last 15 years, Kenya has emerged as a leading force in the African payment ecosystem, gaining global recognition for its ground-breaking mobile money revolution. This

innovation has not only propelled Kenya’s economy forward but has also facilitated business expansion for numerous companies. Leveraging mobile payment technology, Kenya has created a robust payment infrastructure that presents promising opportunities for domestic and foreign enterprises seeking to establish a presence there. By expanding its operations to Kenya, Unlimit strengthens its position in the continent’s payment landscape as part of its mission to lead Africa’s payment evolution in the coming years.