A data breach in Uganda has affected two telcos and one bank
in partnership
with FLUTTERWAVE, ENDEAVOR & CREDIT WAREHOUSE
07.10.2020
Good morning. “Taxpayers money, how can this be development?” One of the reactions after a state in Nigeria named a reality TV star its youth ambassador.
In today’s edition:
-Data breach in Uganda
-Coronavirus & school safety
-Abeg app
PARTNER CONTENT
Bamboo, a Flutterwave merchant, gives you unrestricted access to over 3,000 stocks listed on the Nigerian stock exchange and U.S. stock exchanges, right from your mobile phone or computer. With as little as $20, you can create and fund your Bamboo account with your Dollar or Naira cards and through bank transfers. Start buying and selling shares or stock bundles (called Exchange Traded Funds) in just a few taps, begin here.
DATA BREACH
A data breach in Uganda has affected some of the country’s biggest firms.
How did that happen?
Unidentified hackers gained access to the system of Pegasus technologies. The company’s flagship product, PegPay payments platform, is used by banks and telcos for “financial and billing solutions.”
What did the hackers make away with? Some reports say up to $200,000 from Airtel money alone.
Other companies affected by the hack are MTN Uganada and Stanbic
Bank. As a result of the hack, all financial transactions that go through Pegasus have been suspended.
How is Pegasus attempting to explain this away? “Sadly I can’t comment on that. I can’t speak about it. [Those affected] should be able to tell you whether it is Pegasus or not.” – Ronald Azairwe, MD, Pegasus technologies.
My verdict: pretty transparent.
Makes you wonder why that report claimed data breaches in Africa are under-reported or unsolved.
GETTING KIDS BACK TO SCHOOL SAFELY
After a long break caused by Coronavirus, kids in Nigeria are preparing to go back to school.
Concerns over the safety of kids in school environment are global. How do schools plan to enforce safety standards at all times when it’s a hassle to get adults to even wear masks in public?
It’s one of the questions Kay Uguwede asks in this article. Yet she says there are other concerns.
One such concern is that kids who had no access to edtech or digital tools during the break may find themselves behind on school work. How are schools thinking about remedial assistance for such kids?
Yet, even when schools answer some of these questions, Kay tells me a number of parents are not sending their kids back just yet.
If you have kids, are you letting them go back to school or holding off on that decision until the end of the year?
You can tell me all about your thinking in an email: muyiwa@bigcabal.com
PARTNER CONTENT
The events of 2020 prove that technology can be our most powerful asset to tackle social problems. On Oct 23, join Endeavor for a day of inspiring conversations with forward-thinking entrepreneurs who are building our collective future. Learn more!
ABEG WANTS TO MAKE PAYMENTS FUN
If it looks like CashApp and talks like CashApp, it may actually be a Nigerian app called Abeg
In Nigeria, abeg is the most popular way to ask for handout or a dash. A group of developers have now taken that idea to build an app.
The abeg app lets you ask for and receive money from anyone on your contact list. Although its a pretty simple proposition, the company’s CTO told Alex that, “Abeg’s goal is to sell payment experiences not features.”
While I had to squint at that sentence just a
little, Alex goes all in on some of the ways he thinks the company can find more users in this article.
PARTNER CONTENT
Credit Warehouse, a data company has announced “The Contract Manager.”
It is a platform where friends, family and even small business owners
can sign virtual, yet legally binding contracts of any amount as evidence that the transactions took place. Link.
SHARING IS CARING
If you’re here, chances are that you really enjoyed this newsletter.
So start your day by being super kind and sharing this newsletter to everyone you love. If your friends sent this to you, you definitely mean a lot to them.
