TC Daily

TechCabal Daily – Cyberattack is now a big concern for South African companies

10th June 2020

Global travel industry gets a rare good news since the outbreak of the pandemic
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FLUTTERWAVE, SEAMFIX & DESCASIO		 10.06.2020
Welcome to today’s edition of TC Daily. Please take a moment to subscribe to our newsletter if this email was forwarded to
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PARTNER CONTENT

Medplus – A wholesale & retail pharmacy that not only sells locally manufactured & imported drugs but also your everyday essentials. Now you can order your COVID-19 essentials & have it delivered to you in one click.
CYBERATTACK
Life Healthcare, a South African healthcare company, has suffered a cyberattack. The hospital operator said the breach affected its email servers, admissions and business processing systems. In a statement, the company said it
took the system offline to contain the attack. The full impact of the attack, including data compromise, is not yet known.

South Africa has a history of major breaches. In the last quarter of 2019, the country suffered notable attacks that affected multiple banks and web hosting companies. On two occasions last year, hackers launched a ransomware attack against the City of Johannesburg’s website. Both attacks were launched by the same hackers who demanded payment of 4 bitcoins ($30,000 at the time).

In 2020, the country has now witnessed at least four major cyberattacks. Nedbank, one of the countries biggest banks, suffered a data breach that exposed data of 1.7 million customers. State-owned company, Eskom, witnessed a malware attack and possible data leaks.

With the outbreak of the COVID-19 pandemic, hacking attempts have spiked. According to Kaspersky, a cybersecurity company, attacks have jumped from an average of 21,000 to over 300,000
attempts since the mid-March.
FUNDING
Egyptian mental health platform, Shezlong, has raised an undisclosed round of funding from Asia Africa Investment Consulting (AAIC) and two Egyptian angel investors. Founded in 2014, the platform allows users to find and book voice or video sessions with psychiatrists. It claims to have over
100,000 users and over 500 therapists registered. The company has gone to raise over $666,000 through five funding rounds.
PARTNER CONTENT
An African-tech focused podcast titled ‘Identity and Tech talk’ will arm you with everything you need to navigate the new normal brought to you by Seamfix — a leading technology company in Nigeria.

The 9th episode of the IDT podcast features Chibuzor Onwurah, Co-founder of Seamfix. He shares expert knowledge for entrepreneurs to build resilient mindsets, especially now, in our fast-changing world.

Now, this is a must-hear for you! Click here to listen.
STARTUP CONTEST

The Meltwater Entrepreneurial School of Technology (MEST) has announced the names of country finalists for the 2020 MEST Africa Challenge. The list includes 83 startups from 9 countries. Startups get to pitch at the country level for a chance to present at the MEST Africa Summit which will hold virtually this year. Finalists will receive a $50,000 equity investment and a slot at the MEST incubator. Here is the full list of the selected startups.
FUNDING
South African startup, Sun Exchange has raised $3 million from Africa Renewable Power Fund (ARPF), a fund operated by UK-based ARCH Emerging Markets Partners. The investment is part of Sun Exchange’s $4 million Series A round. The solar panel
leasing company will use the new funds to scale and enter new markets.
PARTNER CONTENT
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AIR TRAVEL
Global travel industry gets a piece of rare good news since the outbreak of the pandemic. Daily flights increased by 30% in May compared to April, according to the International Air Transport Association (IATA). This indicates a slight recovery for the industry. Since March, as the pandemic spread to more countries, governments around the world imposed lockdowns and travel restrictions to
control the spread of infections. Where flights continued, passengers were required to self-isolate for 14 days after their arrival. Air travel demand plummeted and aviation companies across the world cried out for bailouts.

But things are slowly beginning change. Lockdowns are ending in more countries and travel restrictions are reducing too. The latest IATA report sends a positive message across the industry following months of bad news. However, the future remains highly uncertain. Analysts still expect air travel passengers to decrease by 55% this year. Full recovery, at least to pre-pandemic levels, could take up to three years, according to S&P Global Ratings.
That’s all for today,

We’ll be back tomorrow.
– Abubakar

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