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2022 and the evolving threat landscape (By Quentyn Taylor)

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4 years ago

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Whilst 2021 was defined by its exponential growth, 2022 will be focused on the increased sophistication of ransomware and the techniques used to extort companies

DUBAI, United Arab Emirates, April 11, 2022/APO Group/ — 

By Quentyn Taylor, Senior Director, Information Security and Global Response, Canon EMEA (www.Canon-CNA.com)

Ransomware is here to stay

Cyber criminals are adapting every single day. In 2021, hackers realised the recipe for ransomware was simple and delivered an exceptionally high return: exploit one weakness and force companies to pay millions for that mistake. Whilst 2021 was defined by its exponential growth, 2022 will be focused on the increased sophistication of ransomware and the techniques used to extort companies.

What’s more, following the equation of low risk with a high return, attackers will continue to use email compromise and payment fraud techniques. Payment fraud requests a bank account update to the one the fraudster controls. As this process is predominantly controlled by finance in many large corporates, it can slip through the net of the tight security measures implemented company wide.

By the first half of 2021, businesses had seen a 36% growth of ransomware attacks across Europe, the Middle East and Africa (EMEA), the highest growth of any global region during that time period. [1] While ransomware incidents in Europe are likely to stabilise in 2022, it is predicted that they will continue to grow dramatically in other EMEA regions, most notably in Africa and the Middle East. As these two regions move towards a more digital economy, they are increasingly exposed to cyber-attacks. Cyber criminals are taking what they have learnt from Europe and are applying these lessons to a new ground.

Cyber insurers will scale back to mitigate the risks

Cyber insurance is designed to protect companies from the worst financial consequences of cyber-attacks, but, actually, it’s inadvertently driving the ransomware explosion. The last thing cyber criminals want is to go after an uninsured company and risk their pay out not coming through. Insurers provide them with the assurance they need to carry out the attack and demand more from it. As a result, in 2021, more cyber insurance providers were running at a loss and now they have become more wary.

The UK is the most likely in the world to pay cyber criminals. Recent research by security firm Proofpoint’s found that 82% of British firms that have been victims of ransomware attacks paid the hackers to get back their data, compared to a global average of 58%.[2] It’s obvious cyber insurers cannot take the load of the majority of multimillion ransomware operations, so they are cutting back as a result.

This year, we will likely see a larger scale back of cyber coverage and insurance will get more prescriptive to mitigate the risks. Insurers are waking up to the fact that it’s a losing game. Once weaknesses that can be easily exploited present themselves, insurers will start to exclude the vulnerability of the day; and cyber insurance will not provide companies with the mitigation they would have hoped.

Security teams could pay the price for the hyperverticalisation of the IT industry

Hyperverticalisation of the IT industry, where IT professionals increasingly specialise in one area, will continue to be the standard framework for the industry. The benefits of this to enterprise IT teams are obvious, yet, in 2022, security teams may continue to pay the price.

Intensely specialised IT teams may seem like an advantage as it allows more depth of expertise to a role, but it can be a significant disadvantage in that the management between teams becomes increasingly critical. In the past, more generalist teams were able to understand each other’s role so they could detect and resolve problems reactively. Now, there is the risk they can fall between the cracks. For example, the recent issue in the Java package Log4j, meant increasingly specialised operational and development teams were faced with a significant workload for them to work out where they had this package deployed. Hyperverticalisation may seem attractive, and it is but we must also remember it can come with significant risks from a security perspective.

The modern IT landscape is increasingly complicated, and this increased specialisation is needed to meet new demands. However, a balance must be found. Companies should look to ensure that there is a general management layer over the top, blending all these elements together. This is critical to prevent businesses from unintentionally opening themselves up for attack, just because there are gaps in their internal infrastructure.

Legislation will be key for bolstering B2B security postures

We have already seen government legislation enhance IoT security measures in the consumer tech industry. In 2021, the European Commission adopted the Delegated Act on Cybersecurity to the Radio Equipment Directive that aims to secure all IoT devices before they are sold on the EU market.[3] The Act sets out the legal requirements that must be met for manufacturers to ensure products are more secure and the personal data of citizens is protected. Similarly, the UK recently enforced a Product Security and Telecommunications Infrastructure Bill that requires consumer tech companies to strengthen their security stance by banning default passwords and providing transparency to customers in fixing security flaws.[4] These are steps in the right direction, to curb the growing security problems caused by the rise of IoT that make consumers increasingly vulnerable to attack.

Businesses must continue to evolve their cyber security posture in line with the rising ambitions of attackers

2022 must be the year we see this level of security legislation coming into force in the B2B space. With many businesses planning to continue offering hybrid working options for employees, their risk landscape becomes larger and more complex. Accordingly, organisations need to focus on improving end point security in line with their evolving ways of working. Legislation will provide national guidelines for security teams to adhere to, making it easier for organisations to meet the latest standards. The same legislation will benefit consumers too, perhaps even more so, given it will tighten up security requirements across devices. Whilst businesses will pay more for employees to have a device that has airtight security, most consumers will still opt for a cheaper, less secure device.

Businesses must continue to evolve their cyber security posture in line with the rising ambitions of attackers. Ransomware operations are only set to get more sophisticated and targeted. In response, cyber insurance has been designed to compensate businesses in the event of attacks. However, it is clear organisations won’t be able to rely on it as originally hoped. We must not forget about the other side of the coin to ransomware, payment fraud which is still rampant. While external movers such as government legislation will be key to defining security standards, it is important to consider that small internal changes in lines of communication can make a significant difference. Businesses must be prepared for what is in store and remain committed to deflecting the increasing ambitions of hackers.

[1] bit.ly/3rcVWzS 

[2] bit.ly/3O0ofvg

[3] bit.ly/37BP9sp

[4] bit.ly/37cHjpn

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

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Sierra Leone’s PDSL to Host Strategic Investor Roundtable at Paris Energy Forum

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1 day ago

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March 24, 2026

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Energy Capital

The Petroleum Directorate of Sierra Leone will lead a targeted roundtable at Invest in African Energy 2026, spotlighting upstream potential and cross-regional partnerships

PARIS, France, March 24, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) is set to convene an investor roundtable at Invest in African Energy (IAE) Forum 2026 in Paris, underscoring growing interest in West and North African energy markets and the need for deeper capital engagement across exploration, renewable and offshore services. The session reflects a strategic effort by Sierra Leone to connect its emerging upstream prospects with established operators and project developers as the country moves to unlock the full potential of its emerging oil and gas industry.

 

Sierra Leone is increasingly positioning itself as a frontier oil and gas market with significant offshore potential, and part of the PDSL’s mandate is to catalyze investment interest in its offshore acreage through direct engagement with global capital. Recent data suggest the country holds estimated recoverable resources in the tens of billions of barrels, backed by discoveries and extensive multi‑client seismic datasets that prospective investors are evaluating. The PDSL is actively promoting licensing opportunities and drilling plans, emphasizing fiscal terms and exploration readiness to attract strategic partners.

 

A cornerstone of this strategy is the anticipated launch of the country’s sixth licensing round. Offering a rare early-entry opportunity into a largely untapped deepwater terrain with considerable upside, the upcoming bid round is backed by fresh 3D datasets which de-risk exploration and support new drilling campaigns. Just this month, GeoPartners announced that the final Pre-Stack Time Migration data for its recently acquired 3D multi-client seismic survey in the country was complete and is now available for licensing. The dataset provides a 3D window into the hydrocarbon potential of the underexplored northern Sierra Leone region.

 

Sierra Leone’s licensing drive comes as major operators advance exploration activities. In 2025, Eni signed a Reconnaissance Permit Agreement with the PDSL, securing rights to conduct reconnaissance and technical evaluation activities across offshore blocks G113, G129, G130, G131 and G132. The acreage covers 6,790 square kilometers within Sierra Leone’s territorial waters. Nigeria’s F.A. Oil Limited is pursuing drilling following its award of six offshore blocks through the country’s fifth licensing round in 2023. The company is currently seeking a farm-in partner to advance the project from exploration to production, offering a 40% stake in each of the G Blocks 53, 54, 55, 71, 72 and 73.

 

As these development unfold, the upcoming roundtable at IAE 2026 offers a unique opportunity for operators and policymakers to engage potential investors. The IAE 2026 Forum has become a strategic bridge between African upstream opportunities and global investors, with sessions like the PDSL roundtable designed to foster deeper dialogue and provide clarity on project pipelines and investment prerequisites. Discussions are expected to cover mechanisms for de‑risking exploration activity, optimizing fiscal and contractual frameworks and identifying synergies between hydrocarbon investment and renewable energy commitments.

 

For investors seeking differentiated exposure to African energy markets, the Sierra Leone roundtable represents both a focused exploration of frontier oil potential and a broader conversation about regional infrastructure, partnerships and the evolving demands of energy capital in the years ahead.

 

IAE 2026 (www.Invest-Africa-Energy.com) is an exclusive forum designed to connect African energy markets with global investors, serving as a key platform for deal-making in the lead-up to African Energy Week. Scheduled for April 22–23, 2026, in Paris, the event will provide delegates with two days of in-depth engagement with industry experts, project developers, investors and policymakers. For more information, visit www.Invest-Africa-Energy.com. To sponsor or register as a delegate, please contact sales@energycapitalpower.com

 

Distributed by APO Group on behalf of Energy Capital & Power.

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Cape Town Prepares for African Mining Week 2026 as Draft Program Reveals Continent’s Mineral Drive

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1 day ago

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March 24, 2026

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Energy Capital

African Mining Week returns for its 2026 edition with an expanded three-day program, bringing together African mining leaders and global partners to shape the future of the continent’s mining sector

CAPE TOWN, South Africa, March 24, 2026/APO Group/ –Global economic trends – from record-breaking commodity prices to intensifying geopolitical competition for resources – are reshaping the strategic importance of Africa’s mineral wealth. As global countries race to secure supply chains for energy transition metals – which are expected to triple by 2030 – Africa is positioning its 30% share of the world’s critical minerals as a key pillar of economic growth. African governments are modernizing mining codes, developing industrial corridors and investing in mineral processing facilities to support local beneficiation, job creation, workforce development and regional mineral markets.

 

Against this backdrop, the upcoming African Mining Week (AMW) Conference & Exhibition – Africa’s premier gathering for mining stakeholders – has launched the draft program for its 2026 edition {https://apo-opa.co/3NneKLj}. Scheduled to take place October 14–16 in Cape Town, the event provides a platform where policymakers, global investors, project operators, technology providers, academia and mining service companies examine Africa’s mining opportunities, challenges and long-term strategic direction.

Under the theme ‘Mining the Future: Unearthing Africa’s Full Mineral Value’, the three-day, multi-track agenda reflects the growing urgency among African markets to strengthen value addition across the mining value chain.

Regional Cooperation and Policy Alignment in Focus

A key feature of the agenda is the Ministerial Forum, where African mining ministers will provide updates on regulatory reforms and policy alignment initiatives aimed at unlocking greater value from the continent’s mineral resources. Discussions will examine how harmonized regulatory frameworks and regional cooperation can accelerate investment flows and strengthen Africa’s position in global mineral supply chains.

The inclusion of regional policy integration reflects a growing continental push to leverage frameworks such as the African Continental Free Trade Area (AfCFTA) to enhance cross-border mineral cooperation and trade.

We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group

“Africa’s integration is not only a political objective but a strategic economic vision,” stated Emmanuel Armah-Kofi Buah, Ghana’s Minister of Lands and Natural Resources, in remarks reported by Energy Capital & Power – organizers of AMW – in February 2026. “Our natural resources require coordinated policies. Isolated legal frameworks cannot fully unlock their value. Through integration and initiatives such as the ECOWAS [Economic Community of West African States] Mining Code and the African Mining Vision, we can build a stronger and more competitive mineral economy.”

Nigeria’s Minister of Solid Minerals Development, Henry Alake, echoed this emphasis on regional cooperation and beneficiation.

“We are acting to enhance regional integration through frameworks such as the African Mining Vision and the Africa Mineral Strategy Group,” he stated. “We must develop mineral corridors that connect resources, infrastructure and markets across the continent. Our goal is not to simply export raw materials, but to develop industrial hubs that create jobs and value across borders.”

Connecting Global Investors with African Opportunities

Strategic roundtables and Country Focus sessions form a key part of the AMW 2026 program, connecting African mining jurisdictions with international partners from the U.S, Europe, the Middle East and China. These sessions will provide African stakeholders with a platform to showcase exploration opportunities and project pipelines across the mining value chain.

Meanwhile, technical workshops and the exhibition floor at AMW 2026 will provide a platform for equipment manufacturers, technology providers and engineering firms to showcase innovations designed to enhance operational performance across mining operations.

By combining high-level policy dialogue with technical expertise and investment matchmaking, AMW 2026 positions itself as a critical marketplace where Africa’s mineral potential converges with global capital, technology and strategic partnerships – helping shape the next phase of growth for the continent’s mining sector.

AMW serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

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Tony Elumelu Foundation Selects Seven North African Entrepreneurs in 2026 Cohort

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1 day ago

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March 24, 2026

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entrepreneurs

Seven North African entrepreneurs in technology, education, professional services and agriculture selected from 265,000 applications at historic Abuja ceremony

Hope is not just a feeling — it is a system we can build

ABUJA, Nigeria, March 24, 2026/APO Group/ —

  • 7 North African entrepreneurs selected from Morocco, Tunisia and Egypt
  • 51% of the 2026 cohort are women, all selected purely on merit, without any quota in place
  • 3,200 total entrepreneurs selected from 265,000+ applications across 54 African countries
  • USD 5,000 in non-refundable seed capital for each selected entrepreneur
  • Selection conducted independently by Ernst & Young

 

The Tony Elumelu Foundation (TEF) (www.TonyElumeluFoundation.org), the leading philanthropy empowering young African entrepreneurs, announced on Sunday, 22 March 2026 the 12th cohort of the TEF Entrepreneurship Programme at a ceremony held at the Transcorp Hilton, Abuja. The announcement was made by Founder Tony O. Elumelu, C.F.R.

 

Among the 3,200 entrepreneurs selected from 265,000 applications received from all 54 African countries: seven from North Africa. Three from Tunisia, two from Morocco, two from Egypt. Spanning technology, education, professional services and agribusiness, they represent a generation of North African founders building businesses that address the urgent needs of their communities. Their selection, which was conducted independently by Ernst & Young, places them among the most rigorously assessed young entrepreneurs on the continent.

 

This year’s cohort carries a historic signal: 51 percent of the 2026 entrepreneurs are women. They were selected purely on merit, without quota. Across hundreds of thousands of applications, women distinguished themselves through the strength of their ideas, the clarity of their business models and the ambition of their vision.

 

In 2026, the Foundation is empowering a total of 3,200 entrepreneurs across all its entrepreneurship programmes:

 

  • 1,751 entrepreneurs through Heirs Holdings Group: Heirs Energies, Transcorp Power, Transcorp Hotels, and United Capital;
  • 1,049 entrepreneurs in partnership with the European Commission, OACPS, BMZ and GIZ;
  • 100 entrepreneurs in partnership with Sèmè City Development Agency;
  • 100 entrepreneurs in partnership with DEG, the German Development Agency;
  • 100 entrepreneurs in partnership with the IKEA Foundation, UNICEF’s Generation Unlimited and the Dutch Government; and
  • 100 entrepreneurs in partnership with UNDP and the Rwandan Ministry of Youth and Arts.

 

 

Each selected Tony Elumelu Entrepreneur will receive USD 5,000 in non-refundable seed capital, access to world-class business management training on TEFConnect, one-on-one mentorship, and entry into a powerful network of investors, partners and fellow entrepreneurs.

 

In his annual letter (https://apo-opa.co/4uOFepM), “A Story of Hope,” Tony O. Elumelu, C.F.R., Founder of the Tony Elumelu Foundation, shared a powerful message to the new cohort:

 

“For a long time, I believed luck was something that simply happened to you. Then I came to understand: luck can be engineered. Opportunity can be democratised. Hope is not just a feeling — it is a system we can build.” — Tony O. Elumelu, C.F.R., Founder, Tony Elumelu Foundation — 2026 Annual Letter

 

The Tony Elumelu Foundation has empowered over 2.5 million young Africans with access to business management training on TEFConnect (https://TEFConnect.com), and disbursed over USD 100 million in seed capital to more than 24,000 selected entrepreneurs.

 

Collectively, these entrepreneurs have generated USD 4.2 billion in revenue and created more than 1.5 million direct and indirect jobs. Through its support for African entrepreneurs, TEF has lifted 2.1 million Africans above the poverty line and positively impacted more than 4 million African households, with 46% of supported entrepreneurs being African women. Eighty percent of TEF-supported businesses survive and scale, against a global average of ten to twenty percent.

 

 

The announcement ceremony was broadcast live in English (https://apo-opa.co/3PWLiML), French (https://apo-opa.co/3PWLiML), Portuguese (https://apo-opa.co/4t4Y7Da) and Arabic (https://apo-opa.co/4bYHlQl).

 

Distributed by APO Group on behalf of The Tony Elumelu Foundation.

 

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