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Businesses Reel From Massive IT Outage As Experts Warn Of Looming Second Wave Of Disruption

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Businesses Reel From Massive IT Outage As Experts Warn Of Looming Second Wave Of Disruption

A widespread IT outage has brought businesses to a grinding halt, leaving many scrambling to recover from the devastating disruption. As companies slowly regain their footing,
experts warn of a potential second wave of disruption, heightening concerns about the vulnerability of digital systems.

The outage, which began earlier this week, has affected businesses across various sectors, including finance, healthcare, and retail. Reports indicate that the disruption was caused
by a software glitch, which spread rapidly through interconnected systems.

While some businesses have managed to restore their operations, many others remain offline, struggling to recover lost data and regain customer trust. The economic impact of the outage is still
being assessed, but experts predict significant losses for affected companies.

As businesses race to get back online, cybersecurity experts warn of a potential second wave of disruption. “This outage has exposed vulnerabilities in our digital infrastructure, making
us more susceptible to cyber attacks,” said Dr. Jane Mwangi, a cybersecurity expert at the University of Nairobi. “We urge businesses to take immediate action to bolster their defenses and prevent further
disruption.”

The warning comes as reports emerge of criminals seeking to exploit the outage for financial gain. “We’ve seen an uptick in phishing scams and ransomware attacks, targeting businesses affected by the outage,” said Detective Jameson Mwangi, a cybercrime investigator with the Kenyan Police Service. “We urge businesses to be vigilant and report any suspicious activity to the authorities.”

As the situation continues to unfold, businesses are advised to take proactive measures to protect themselves from further disruption. This includes conducting thorough system audits, implementing robust cybersecurity measures, and engaging with customers to rebuild trust.

In the meantime, experts are calling for a comprehensive review of digital infrastructure to prevent similar outages in the future. “This incident highlights the need for a more resilient and secure digital framework,” said Dr. Mwangi. “We must learn from this experience and work towards building a more robust digital ecosystem.”

Diapora Watch will continue to monitor the situation and provide updates as more information becomes available.

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Business

Foreign Investment Outflow from NGX Rises by 250.86% in Q1’25

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Foreign investment outflow from the Nigerian stock market (NGXchange) has risen by 250.86 percent, Quarter-on-Quarter, QoQ, to N420.37 billion in the first Quarter, Q1’25, from N119.81 billion in the corresponding period of 2024, Q1’24.

The Nigerian Exchange Limited, NGX, disclosed this in its foreign portfolio report.

According to the report, foreign investment outflow also exceeded inflow by 20 percent or N20.11 billion in Q1’25. Despite the outflow, foreign investment inflow rose by 275 percent, Year-on-Year, YoY, to N349.97 billion in Q1’25 from N93.37 billion in Q1’24.

The NGX also revealed that N2.23 trillion equity transactions were recorded by both domestic and foreign investors in Q1’25.

The figure surpassed the N1.54 trillion recorded in the same period of 2024, representing an increase of N690 billion or 44.8 percent.

In March 2025, foreign transactions outperformed domestic transactions by circa 26 percent.

According to the NGX, foreign transactions increased significantly by 1,541 percent to N699.89 billion in March 2025 from N42.65 billion in February 2025.

On the other hand, domestic transactions decreased by 10.98 percent Month-on-Month, MoM, to N415.62 billion in March 2025 from N466.82 billion in February 2025.

Domestic inflow and outflow also declined in the reviewed period.

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Business

Liberia Woos Investors at 2025 Investment Conference

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Liberia’s Minister of Commerce and Industry, Magdalene E. Dagoseh, has highlighted the country’s immense investment potential at the 2025 Liberia Investment Conference.

The two-day forum, which brought together investors, policymakers, and business leaders, aimed to explore investment opportunities in Liberia.

Minister Dagoseh emphasized Liberia’s commitment to creating a conducive business environment, citing minimal financial barriers and a welcoming regulatory framework.

“Liberia is a place of authority of opportunity, where transformation can take place at all levels,” she stated.

The conference showcased Liberia’s investment potential in various sectors, including agriculture, mining, infrastructure, and services.

The agriculture sector, for instance, offers opportunities for investment in crop production, livestock farming, and agro-processing.

She remarked that by investing in Liberia, companies can tap into the country’s growing market and contribute to its economic development.

Diaspora Watch reports that Liberia aims to attract foreign investment, stimulate economic growth, and reduce poverty by showcasing its investment potential.

With its strategic location, natural resources, and growing economy, Liberia is an attractive destination for investors.

The 2025 Liberia Investment Conference marked a significant step towards achieving these goals, highlighting Liberia’s investment potential to a global audience.

Liberia’s investment potential is enormous, and the country is committed to creating a conducive business environment to attract investors and drive economic growth.

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Business

$5 Billion African Energy Bank Enters Final Phase

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The Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced that preparations for the launch of the $5 billion African Energy Bank (AEB) have entered their final phase.

Lokpobiri made the disclosure after a high-level review meeting in Abuja with President of Afreximbank, Professor Benedict Oramah, and Secretary-General of African Petroleum Producers’ Organisation (APPO), Dr Farouk Ibrahim.

According to Lokpobiri, key legal and governance frameworks have been concluded, while capital mobilisation discussions have recorded encouraging commitments from both member nations and private investors.

The AEB, headquartered in Abuja, seeks to mobilise capital for energy infrastructure projects across Africa.

“The AEB is poised to become a transformative financing platform for energy projects across the continent,” Lokpobiri said.

“This review confirms that every critical milestone is either completed or on schedule, and we remain fully aligned with our continental partners.”

APPO’s Ibrahim commended Nigeria’s dedication to meeting the stringent requirements for bank establishment, while Afreximbank’s Oramah stated that the bank was ready to deploy its structuring expertise and capital base to ensure AEB’s successful launch.

A definitive launch timeline and inaugural board meeting date have been fixed and will be announced shortly.

The AEB has an initial capital target of $5 billion, with plans to scale up to $120 billion subsequently.

In a separate event, Lokpobiri flagged off construction of the permanent site for Bauchi Oil and Gas Academy, Alkaleri (BOGAA), saying the move will contribute to the federal government’s human capacity development plan in the energy sector.

The minister highlighted President Bola Tinubu’s broader agenda to harness the full potential of Nigeria’s energy sector in driving economic prosperity, creating jobs, and enhancing national revenue.

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