Price Index declined by 2.1 percent in February - ITREALMS

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Benchmark for world food commodity prices fall in March for the twelfth month in a row FAO Food Price Index declined 2.1 percent from February and 20.5 percent from a year earlier, reports ITREALMS.

The benchmark index of international food commodity prices declined for the 12th consecutive month in March, driven by declines in world quotations for cereals and vegetable oils, the Food and Agriculture Organization of the United Nations (FAO) reported.

Digital siege: Before we reject press freedom index - ITREALMS

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A few days ago, Nigeria joined the information world to commemorate the 2022 World Press Freedom Day. REMMY NWEKE in this piece underscored some highlights the country must scale to come out of the digital siege "... As one of West Africa’s most dangerous and difficult countries for journalists, who are often watched, attacked, arbitrarily, arrested and even killed."

FG rejects press freedom index

Recently, the Federal Government of Nigeria said it rejected the 2021 World Press Freedom Index (WPFI) which identified Nigeria as a country not conducive to journalism practice, according to the Minister of Information and Culture, Alhaji Lai Mohammed argued that the Nigerian press is among the most vibrant and freest in the world.

FG, IPI disagree over 2021 World Press Freedom Index - ITREALMS

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The Federal Government (FG) and the International Press Institute (IPI) are in disagreement over the 2021 annual World Press Freedom Index, reports ITREALMS.

FG in its character, rejected that Nigeria as a country not conducive to the practice of journalism, saying Nigerian press remains among the most vibrant and freest in the world.

ADI ranks Nigeria 18th in affordable internet access - ITREALMS

ITREALMS:

Nigeria has been ranked 18th in this year's Affordability Drivers Index (ADI) by the Alliance for Affordable Internet (A4AI), reports ITREALMS.

This was contained I the 2018 Affordability Report made available to ITREALMS, which assesses and scores countries based on the policies they have in place to advance affordable access.

ITREALMS also gathered that Nigeria alongside Mauritius have been the two highest-scoring Sub-Saharan African countries on the ADI for the past 3 reports.

Reacting to the report findings, A4AI Executive Director Sonia Jorge noted that while they have seen a few bright spots of the policy leadership needed to advance affordable internet access, they are deeply concerned to see that policy progress has largely stagnated.

“Failure to prioritise needed broadband policy reforms has left billions of people offline, and has contributed to a significant slowing in the rate of people coming online. Every moment that these billions are unable to participate in digital development is a lost opportunity for economic, social, and political growth. Policymakers, the private sector, and civil society must come together to take immediate action to develop and implement the policies needed to connect everyone and accelerate internet growth,” she said.

ITREALMS gathered that the report finds that policies to expand infrastructure to underserved locations and populations have particularly faltered, resulting in stubbornly high costs for internet providers and consumers alike.

The ADI therefore, recommended that policymakers prioritise the time and resources needed to support the development of infrastructure critical to reducing internet costs.

Honorary Chair of A4AI and former Communications Minister of Nigeria, Dr Omobola Johnson, said that Internet access is a critical driver of economic growth.

“Good, stable infrastructure is, quite literally, the backbone of internet access. As it is today, many of the policies in place conspire to make the building and upkeep of internet infrastructure more difficult and expensive than it should be. Policymakers must focus on implementing policy frameworks that work to support the smart, coordinated development of infrastructure needed to ensure high-quality, affordable connectivity for all people — no matter whether they are in the city, a rural village, or a remote island community,” she declared.

Chuks Egbune/GEE

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Accenture Nigeria to unveil Innovation Index 2018 - ITREALMS

ITREALMS:

Accenture Nigeria has concluded survey for the maiden edition of its Innovation Index which focuses on disruptive business, market and technology trends in the Nigerian financial services industry, reports ITRealms.

The Index will highlight and showcase innovation evangelists who are weaving innovation into the very fabric of culture in their organisations—as well as creating product, process, people and service novelties which are changing the way people live and work.

Accenture during the survey reached out to banking and fintech companies in order to showcase their innovations. In collaboration with Lagos Business School as local research partner, a rigorous adjudication process that examined entries in order to identify innovation leaders based on five categories of the innovation value chain for the banking and fintech space in Nigeria.

“As Nigerian banks and FinTech companies continue to grow and expand their businesses through innovation, index will offer insight on the effect these innovations have had in enabling competitive advantage in the marketplace” said Toluleke Adenmosun, Accenture Nigeria’s Managing Director Financial Services. “We are appreciative of all organizations who participated in the survey. 

Accenture will provide a custom diagnostic report to each participant to aid them on their innovation journey.”

Accenture is looking forward to announcing the winners of the Nigeria maiden Innovation Index with stakeholders in the country in conjunction with its media partners, The Guardian Newspapers and Techcabal.

It is the company’s wish that findings from the survey will spur further innovation that will help to improve products and service creation in the financial sector that will significantly impact lives and also guide other sectors in making informed decisions towards developing Nigeria’s economy.

Chuks Egbune/GEE

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Accenture Innovation Index 2018 entry opens

ITREALMS:

The call for entries into the Accenture Innovation Index for the year 2018 is now open, reports ITRealms.

Resources close to Accenture in Lagos, informed ITRealms that the rapid changes in the world are increasingly rewarding those who are innovating. 

Also, they noted that adoption of new ways of doing things is driving growth in companies, expanding opportunities in economies and increasing the quality of life in nations that embrace it.

The outliers in innovation and those who are improving their position have some things common - they bolster their innovation capacities through positive-sum policies such as investments in Research & Development, Education, Tax incentives for innovation that contribute positively to the global body of knowledge and stock of innovation.

The Accenture Nigeria’s Managing Director Financial services, Toluleke Adenmosun, told ITRealms that in partnership with The Lagos Business School and select C-Suites from tier one companies who are judges in the process, Accenture applies best practice research approaches to provide a confidential customized innovation diagnostic report that identifies each participant's innovation strengths and weaknesses; benchmarks their innovation within their industries; and presents strategies that may help them gain competitive advantage.

“The banking industry is evolving right now, requiring banks to navigate through significant challenges to not only maintain their profitability but to also increase their revenue and meet the customers dynamic demands.  The topic of “Innovation” is a critical discussion among the Banking C-Suites right now, as Banks are being pushed to think about innovation in new ways that were unimaginable just a decade ago,” said Adenmosun.

in addition, Accenture, he said, believes the biggest challenge banking in Nigeria is facing is keeping up with the changes in digital technology, consumer expectations and governmental regulations. Accenture has received a significant number of requests from banks asking for greater insight and assistance on Innovation in the first few months of 2016. And with a rapidly evolving ecosystem, banks must make innovation a part of their culture and rotate to the new.”

"The Accenture Innovation Index 2018 will survey nearly 100 companies in banking and Fintech space – this will include interactions with these executives. This year’s index will focus on banking and the fintech industry that is driving an increasing number of solutions to customers in the financial services space. As companies in this space are pressured to innovative and create new products and services, their impact is shaping people’s lives and contributing to the improvement of living standards in the country. In subsequent editions other industries and their impact will be indexed to give an even broader view of the various industries strengths and the nation’s most advantageous attributes.

"Collaborating with us on this journey to document and highlight the topic of innovation, we are partnering with The Guardian newspapers and Techcabal to share the insights with you. This Index is designed to provide a national benchmark for innovation, providing businesses and policymakers with an authoritative and objective snapshot of the state of innovation within their organisations and in Nigeria," Adenmosun said.

Stressing, "We look forward to sharing the report and its findings with you once the process is completed. We are excited to see how our industry leaders compare with peers in other countries where we have conducted the survey."

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Yudala to top Africa’s eCommerce profitability index

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The Vice President of Yudala, pioneer online and offline e-commerce outfit, Prince Nnamdi Ekeh, has predicted that the company is set to top Africa’s electronic commerce (eCommerce) industry on the path of profitability by 2020, reports ITRealms.

This, ITRealms gathered would mark the first five years of operations of Yudala.

Speaking on the sidelines of Unusual Praise 2017, a gospel concert hosted by the Catholic Church of Divine Mercy in Lekki, Prince Ekeh noted that the facts and figures on ground show that Yudala is on track to set another record in its journey in the Nigerian e-commerce industry.

“At Yudala, our strategy is clear and distinct from anything else on offer in the market today. Our fusion of online and offline is not only futuristic, but one that has being copied by other global e-commerce giants. On the back of this, we have seen a consistent growth trajectory that will see Yudala emerge as the first profitable Nigerian e-commerce company by 2020,” Prince Ekeh said.

He further said, “… We are renowned as arguably the most credible source of genuine products in the e-commerce sub-sector today. Every item on the Yudala platform, online or offline, is sourced directly from the manufacturers and this has clearly distinguished the Yudala brand in the marketplace.

“In addition, we possess superior logistics and delivery timelines that have endeared us to shoppers. As a result, we have consistently seen repeat purchases from our customers. In most cases, we have also been able to win over new shoppers, the majority of whom, having patronized other platforms, have not looked back since their first experience of Yudala. Aligned to the foregoing is the passionate, committed and highly professional team we have in the company, all of whom have continuously displayed the hunger and capacity to deliver on our mandate.

“Finally, we have God. You will agree with me that, with all these factors in place, the sky is just the starting point for us,” he enthused.

When asked if Yudala will follow the example set with Unusual Praise by supporting other religious concerts in future, Prince Ekeh revealed that the company will be sponsoring about five other concerts in 2018.

“We have a budget for these events and in 2018, we will be supporting other religious events, including Islamic ones. Yudala is a platform for all and we respect the diversity of faith we have in the country,” he said.

Launched a little over two years ago, Yudala has more than held its own in Nigeria’s keenly-competitive e-commerce sector, with the company’s futuristic fusion of an online platform with a chain of brick-and-mortar stores located nationwide instantly setting it apart from inception.

And despite the well-known struggles of other established players in the sector, Yudala has continued to post impressive results, a trend that has seen optimism of the company soon turning the corner of profitability.

Continuing, he noted: “We are aware of the challenges faced by players in the e-commerce sector. Research at our disposal indicates that less than 30 per cent of African e-commerce startups are profitable, with many of them hampered by lack of trust, shortage of financing, logistical difficulties and the largely-traditional approach to shopping still in play among these economies.

“Here in Nigeria, the case is hardly different as we have seen many e-commerce start-ups exit the scene prematurely while the older ones have also consistently posted huge losses.

“However, the story is different at Yudala. This is down mainly to our sound business model and approach. Indeed, while our investors expect us to deliver profits by 2022, our ambition is to surprise them by achieving this milestone earlier,” he concluded.

Apart from its ambitious retail roll-out strategy and network of physical stores which has helped the company reach many unserved and under-served members of Nigeria’s over 190 million population, Yudala has also been bold in making a statement of intent with its emphasis on genuine products and best prices, aligned to a number of landmark innovations and eye-catching strategies which has endeared it to an ever-growing audience.

In addition to pulling off the first recorded instance of a product delivery via drone in 2015 – a feat which captured the imagination of the e-commerce world - Yudala has succeeded in building up a steadily growing database of loyal customers, many of whom have come to rely on the company for the assurance of genuine products and unmatched best prices in the market-place which it stands for.

Earlier in 2017, the company acquired Yes Mobile, a cosmopolitan high-value retail outfit with a multiplicity of stores in Lagos in what industry watchers described as a strategic duplex acquisition; one which went a long way in showing the level of ambition and determination to lead in the retail space currently driving the company. 

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Africa ranks 4th in global Internet Users index

ITRealms:

The World Internet Statistics have released its first quarter internet users ranking by regions with Africa ranking fourth in across the globe with 9.4 per cent, reports ITRealms.

The ranking, ITRealms also gathered placed Asia first among other seven continents with 50.1 per cent, followed by Europe with 17.0 per cent, then Latin America and Carribean with 10.3 per cent.

The North America came fifth in the rank of continents with 8.6 per cent; Middle East with 3.8 per cent and Oceania cum Australia with 0.7 per cent.

In the actual world internet usage and population statistics as at March 31, 2017, ITRealms gathered saw Africa Internet users at 353,121,578, Asia 1,874136,654, Europe 636,971,824; Latin America and Caribbean 385,919,382.

In addition, the Middle East has 141,931,765 Internet users as at the period under review followed by North America with 320,068,243 and Ocean cum Australia 27,549,054.

ITRealms gathered that the Internet usage information comes from data published by Nielsen Online, by ITU, the International Telecommunications Union, by GfK, by local ICT Regulators and other reliable

Nonye Dom/GEE 
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ITU’s ICT Development Index 2016

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At the 14th Global Symposium on Information and Communication Technology (ICT) indicators held in Gaborone, Botswana, between November 21 and 23, 2016, the International Telecommunication Union (ITU) released this year’s report. Excerpts:

The International Telecommunication Union (ITU's) flagship annual Measuring the Information Society Report​, was recently released, showing that the world is getting more and more connected and reveals that there are still huge investment opportunities for the private sector to connect the unconnected. 

This is coming as Nigeria was ranked the 137th out of its 175 members under review for this year, just as the Korea Republic topped the ranking chat, reports DigitalREALMS. This is coming as Nigeria’s economic value within the ICT for Development Index was 2.72, whereas it was 2.48 in 2015, while the ranking was stagnant.

The Measuring the Information Society Report is widely recognized as the repository of the world's most reliable and impartial global data and analysis on the state of global ICT development and is extensively relied upon by governments, international organizations, development banks and private sector analysts and investors worldwide. 

"To bring more people online, it is important to focus on reducing overall socio-economic inequalities," said ITU Secretary-General Houlin Zhao. "Education and income levels are strong determinants of whether or not people use the Internet. ICTs will be essential in meeting each and every one of the 17 Sustainable Development Goals (SDGs), and this report plays an important role in the SDG process. Without measurement and reporting, we cannot track the progress being made and identify areas that require action, and this is why ITU gathers data and publishes this important report every year." 

The Republic of Korea tops the IDI rankings in 2016 for the second consecutive year. The top 10 countries of the IDI 2016 also include two other economies in the Asia-Pacific region, and seven European countries. Three island countries in the Caribbean – St. Kitts and Nevis, Dominica, and Grenada – featured among the most dynamic countries with strong improvements in their IDI value and rank.

"This year's results show that nearly all of the 175 countries covered by the index improved their IDI values between 2015 and 2016," said Brahima Sanou, Director of ITU's Telecommunication Development Bureau, which produces the report each year. "During the same period, stronger improvements have been made on ICT use than access, mainly as a result of strong growth in mobile-broadband uptake globally. This has allowed an increasing number of people, in particular from the developing world, to join the information society and benefit from the many services and applications provided through the Internet."

MEASURING MOBILE ADOPTION 

Mobile phone adoption has largely been monitored based on mobile-cellular subscription data since these are widely available and regularly collected and disseminated by regulators and operators. At the end of 2016, there are almost as many mobile-cellular subscriptions as people on earth and 95% of the global population lives in an area that is covered by a mobile-cellular signal. However, since many people have multiple subscriptions or devices, other metrics need to be produced to accurately assess mobile uptake, such as the number of mobile phone users or mobile phone owners. 

INTERNET POTENTIAL UNDERUSED

An increasingly ubiquitous, open, fast and content-rich Internet has changed the way many people live, communicate, and do business, delivering great benefits for people, governments, organizations and the private sector. However, many people are still not using the Internet, and many users do not fully benefit from its potential. 

Most people have access to Internet services but many do not actually use them. The spread of 3G and 4G networks across the world make the Internet increasingly available to more and more people. In 2016, mobile-broadband networks covered 84% of the world's population, yet with 47.1% Internet user penetration, the number of Internet users remain well below the number of people with network access. While infrastructure deployment is crucial, high prices and other barriers remain important challenges to getting more people to enter the digital world. 

The full potential of the Internet remains untapped. Internet users with higher levels of education use more advanced services, such as e-commerce and online financial and government services to a higher degree than Internet users with lower levels of education and income levels, who predominantly use the Internet for communication and entertainment purposes. This suggests that many people are yet to benefit fully from the opportunities brought by the Internet. 

Access to the Internet is not enough; policy-makers must address broader socio-economic inequalities and help people acquire the necessary skills to take full advantage of the Internet. This is in line with a more integrated development approach, like that adopted in the 2030 Agenda for Sustainable Development, which highlights that development challenges are linked and cannot be achieved in isolation. 

Many people still do not own or use a mobile phone. Household data from developing countries show that a significant part of the population does not use mobile-cellular services at all. In developing economies where recent household data is available, close to 20% of the population, on average, are still not using a mobile phone. 

Most people who do not own or use a mobile phone are among the youngest (5-14 years old) and those more than 74 years old segments of the population. Usage and ownership penetration rates amongst these age groups are much lower than amongst the rest of the population. Among the 15-74 age group, 85% or more of the population owns or uses a mobile phone in the countries where data are available. But this is changing. 

 Progress in Least Developed Countries - Mobile-cellular prices continued to decrease in 2015, and the price drop was steeper than in previous years. For the first time, the average cost of the mobile-cellular basket (which includes 100 SMS and 30 mobile calls per month) in developing countries accounted for less than 5% of GNI per capita. Least Developed Countries (LDCs) saw a 20% fall in mobile-cellular prices, the strongest decrease in five years. The price drop is linked to the increasing availability of prepaid packages that bundle SMS and local calls. 

Affordability is the main barrier to mobile-phone ownership. It is the cost of the handset, rather than the cost of the service itself, which is often reported as the main barrier to owning a mobile phone. Another important barrier is the lack of perceived benefits. In communities where overall mobile uptake is low, mobile phone use is perceived to have fewer benefits since fewer community members are also using this mode of communication. Other barriers include lack of ICT skills necessary for accessing the Internet through a mobile phone.     

Asia and the Pacific has the lowest average purchasing power parity (PPP) $ price for mobile-cellular services of all regions. The region is home to countries with the lowest mobile-cellular price baskets worldwide: Sri Lanka and Bangladesh, where prices stand out at PPP$ 2.45 and PPP$ 4.14 per month. 

Fixed-broadband prices continued to drop significantly in 2015 but remain high – and clearly unaffordable - in a number of LDCs. Globally, the price of a basic fixed-broadband connection has fallen from around USD 80 per month in 2008, to USD 25 in 2015, corresponding to a drop in the ratio of price to average GNI p.c. from over 90% to 14%. In LDCs, a fixed-broadband plan with a minimum of 1GB of data per month still corresponds to over 60% of GNI per capita. 

Mobile-broadband is cheaper and more widely available than fixed-broadband, but still not deployed in the majority of LDCs. Globally, handset-based mobile-broadband prices have fallen from an average of PPP$ 29 per month in 2013 to PPP$ 18 in 2015. Mobile-broadband services are only offered in 38% of the LDCs; however, in those countries where the service is offered, handset-based prices have more than halved in PPP terms during the period 2012-2015 and prices now account for 11% of GNI per capita. Still, mobile-broadband cannot always replace fixed-broadband Internet access, especially the business sector and a growing number of applications require higher speeds and better connection quality.

REGIONAL COMPARISONS 

Europe continues to lead the way in ICT development. It had the highest average IDI value among world regions (7.35).  Countries in Europe generally have liberalised communications markets with high levels of ICT access, use and skills. 

A number of countries in the Americas significantly improved their performance in the IDI. Several countries in Latin America, notably Bolivia and Mexico, also made noticeable progress in their IDI performance. Similar to other regions, the growth of mobile-broadband subscriptions was particularly influential on these outcomes. 

The Commonwealth of Independent States (CIS) region is the most homogeneous in terms of ICT development. Nearly all countries in the CIS region have IDI values above the global average. All countries also improved their IDI values as a result of improvements in mobile-cellular and mobile-broadband penetration. 

The Asia-Pacific region is, by contrast, the most heterogeneous. The top seven economies in the Asia-Pacific region have IDI values above 7.50 and rank within the highest quartile of IDI 2016.  The region also includes a number of countries which significantly increased their IDI value and rank over the year, including Bhutan, Myanmar and Malaysia. However, nine out of 34 countries in the region, including several with large populations, are least connected countries (LCCs). 

There is great diversity in ICT development across the Arab States. The five highest performing countries in the Arab States region are oil-rich high-income economies, but the region also includes a number of low-income countries, three of which are LCCs. This illustrates that the digital divide between the LCCs and the more prosperous countries in the region may be growing. 

Africa is working on pushing up its IDI performance. The average IDI 2016 value for the Africa region was 2.48 points, just over half the global average of 4.94. The majority of the 39 African countries in IDI 2016 are LDCs. This reflects the lower level of economic development in the region, which inhibits ICT development. The highest growth achieved was in the number of mobile-cellular subscriptions, in contrast to other regions, in which the number of mobile-broadband subscriptions experienced the highest growth​.

ITU's Africa region does not include the North African Arab States.​

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ICANN updates gTLD Marketplace Health Index 2016

ITRealms:

The Internet Corporation for Assigned Names and Numbers (ICANN) has published an update to the generic Top Level Domain (gTLD) Marketplace Health Index trial version, reports ITRealms.

This, ICANN also said that the index presents statistics and trends related to generic top-level domains (gTLDs).

ITRealms recalls that the gTLD Marketplace Health Index (Beta) was first published in July 2016.

ICANN plans to publish these statistics twice a year to track progress against its goal of supporting the evolution of the domain name marketplace to be robust, stable and trusted.

Even as a community Advisory Panel is working with ICANN to refine the Index in preparation for publishing version 1.0.

ITRealms further recalls that ICANN's mission is to help ensure a stable, secure and unified global Internet.

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ITU ranks Nigeria 137th in ICT Development Index 2016

ITRealms:

The Information and Communication Technology (ICT) Development Index 2016 has ranked Nigeria, the 137^th out of its 175 members under review for this year, just as the Korea Republic tops the ranking chat, reports ITRealms.

This is coming as Nigeria’s economic value within the ICT for Development Index was 2.72, whereas it was 2.48 in 2015, while the ranking was stagnant, that is 137^th in the International Telecommunication Union (ITU)-organised indexing.

ITRealms gathered that the index was unveiled at the just concluded 14th Global Symposium on ICT indicators held in Gaborone, Botswana, between November 21 and 23, 2016.

The ICT Development Index (IDI) is the official instrument by which we measure globally the level of development of the ICT sector. This index uses 11 indicators among which are the number of mobile phone subscriptions, the number of households with a computer the number of Internet users, the number of subscriptions to fixed broadband internet and mobile broadband, the literacy rate, etc.

According to ITU Secretary-General Houlin Zhao, the Measuring the Information Society Report is widely recognized as the repository of the world's most reliable and impartial global data and analysis on the state of global ICT development and is extensively relied upon by governments, international organizations, development banks and private sector analysts and investors worldwide. 

"To bring more people online, it is important to focus on reducing overall socio-economic inequalities. Education and income levels are strong determinants of whether or not people use the Internet. ICTs will be essential in meeting each and every one of the 17 Sustainable Development Goals (SDGs), and this report plays an important role in the SDG process. Without measurement and reporting, we cannot track the progress being made and identify areas that require action, and this is why ITU gathers data and publishes this important report every year," he said. 

The Republic of Korea, he said, topped the IDI rankings in 2016 for the second consecutive year. The top 10 countries of the IDI 2016 also include two other economies in the Asia-Pacific region, and seven European countries. Three island countries in the Caribbean – St. Kitts and Nevis, Dominica, and Grenada – featured among the most dynamic countries with strong improvements in their IDI value and rank.

For Brahima Sanou, Director of ITU's Telecommunication Development Bureau, this year's results showed that nearly all of the 175 countries covered by the index improved their IDI values between 2015 and 2016, which produces the report each year.

"During the same period, stronger improvements have been made on ICT use than access, mainly as a result of strong growth in mobile-broadband uptake globally. This has allowed an increasing number of people, in particular from the developing world, to join the information society and benefit from the many services and applications provided through the Internet," he said.

Nenye Dom/GEE

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Pix: ITU Sec-Gen Houlin Zhao

CheckPoint cyber-threat index ranks Nigeria 19th

ITRealms:

The latest threat index by CheckPoint Software Technologies, has ranked Nigeria 19^th, showing that most African countries are volatile in threat ranking, just as the number of active global malware families increased by 15 per cent  by the end of May 2016, reports ITRealms.

The company also said May Threat Index presents a mixed view of Africa, with several countries making quite strong moves up and down the index - the higher their relative ranking in the index, the greater the threat of cyber-attack.

The Area Manager for East and West Africa at Check Point Software Technologies, Mr. Rick Rogers, said there are four African countries in the top ten of the index, including Malawi who currently sits at third thereby improving by one position from the previous month.

“The others include Djibouti, Namibia and Angola. Just outside of the top ten, at eleventh, sits Botswana. There are 112 countries on the overall Index,” he said.

The West African technology and economic hub, Nigeria, Rogers said, is currently ranked 19^th; a significant improvement on April’s 11th position.  Stressing that in a reversal of fortunes of sorts, east African powerhouse, Kenya shifted a massive 46 positions to sit at just 37th.

He also said, globally, Check Point detected 2,300 unique and active malware families attacking business networks in May, pointing out that it was the second month running that Check Point observed an increase in the number of unique malware families, having previously reported a 50 per cent increase from March to April.

“The continued rise in the number of active malware variants highlights the wide range of threats and scale of challenges security teams face in preventing an attack on their business critical information,” he said.

Precisely, the May checklist by CheckPoint noted that banking malware Tinba became the fourth most prevalent form of infection last month in Kenya, and ninth in Nigeria.

“This Trojan allows hackers to steal victims’ credentials using web-injects, activated as users try to log-in to their banking website. Tinba ranked second in the overall international threat list,” he said.

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