• The rising popularity of cryptocurrency has attracted a surge of scammers preying on both new and experienced investors.
• Common scams include fake exchanges, phishing emails, Ponzi schemes, impersonation fraud, and malware attacks, leading to significant financial losses.
• Online security expert Richard D. advises using reputable exchanges, enabling VPN protection, and staying vigilant to navigate the crypto market safely.

Cryptocurrency has never been more popular. Bitcoin continues to hit record highs, and even public figures like Donald and Melania Trump are launching their own coins. 

With millions joining the crypto frenzy, scammers are seizing the opportunity to exploit the uninformed. “Scammers thrive on hype,” says Richard D, an online security expert at VPN Pro. “The more people rush into crypto, the easier it is for bad actors to exploit their lack of knowledge.”

From fake exchanges to phishing schemes, here are some of the most common crypto scams and how to avoid them.

8 Common Crypto Scams and How to Avoid Them

1. Fake Cryptocurrency Exchanges

Scammers create convincing replicas of legitimate crypto platforms, luring users to deposit funds that become impossible to withdraw. These fake exchanges are usually promoted through phishing links and social media ads, making them seem authentic.

How to Stay Safe:

Verify exchanges through independent reviews.

Ensure the platform is registered with relevant regulatory authorities.

Stick to reputable exchanges like Coinbase, Binance, or Kraken.

2. Phishing Emails

Fraudsters send emails that mimic official crypto platforms, tricking users into clicking malicious links or sharing private keys. These emails often contain urgent warnings to pressure victims into taking action.

How to Stay Safe:

Double-check email senders and website URLs.

Never click on unsolicited links.

Remember, legitimate platforms will never ask for private keys via email.

3. Ponzi Schemes

These scams promise guaranteed high returns by using funds from new investors to pay earlier participants. They rely on testimonials, influencers, and hype to attract victims before ultimately collapsing.

How to Stay Safe:

Be sceptical of investments that promise high, consistent returns.

Research thoroughly and avoid schemes that depend on recruitment.

4. Fake Initial Coin Offerings (ICOs)

Scammers create elaborate websites, whitepapers, and marketing campaigns to promote non-existent blockchain projects. They collect funds from investors before vanishing.

How to Stay Safe:

Research the project’s team, partnerships, and technology.

Look for verified information on trusted blockchain platforms.

5. Pump-and-Dump Schemes

Scammers buy large amounts of a low-cost cryptocurrency, artificially inflate its value through hype, then sell off their holdings, leaving other investors with worthless coins.

How to Stay Safe:

Avoid investments driven by social media hype.

Focus on cryptocurrencies with transparent teams and real-world use cases.

6. Impersonation Scams

Fraudsters create fake profiles of celebrities, influencers, or crypto companies, promoting fake giveaways or investment opportunities. Victims send funds, only for the scammer to disappear.

How to Stay Safe:

Verify accounts with blue checkmarks.

Remember, legitimate figures never ask for upfront payments for giveaways.

7. Social Media Scams

Scammers use fake accounts or groups on platforms like Twitter, Facebook, and Telegram to promote fraudulent token giveaways, phishing links, and fake ICOs.

How to Stay Safe:

Always verify the authenticity of social media accounts.

Never share wallet details, private keys, or sensitive information.

8. Malware Attacks

Some malware can infiltrate devices via fake crypto apps, phishing links, or malicious downloads. Hackers use these tactics to steal private keys or redirect transactions to their own wallets.

How to Stay Safe:

Keep antivirus software updated.

Download apps only from trusted sources.

Double-check wallet addresses before confirming transactions.

Why a VPN is Essential for Crypto Security

Beyond avoiding scams, protecting online activity is neccessary for crypto users.

A VPN (Virtual Private Network) creates a secure, encrypted connection, hiding users’ IP addresses and safeguarding their online transactions. Public Wi-Fi networks are especially risky, as hackers can intercept data—but a VPN protects against these threats.

Some VPNs, like VPN Pro, offer malware blocking, ad blocking, and phishing protection, providing an extra layer of security against crypto-related scams.

“The rapid rise of cryptocurrency has transformed the way we think about money, but it has also opened the door to unprecedented levels of online fraud,” says Richard D.

“Staying ahead of these threats requires a proactive mindset. Educate yourself about the risks before entering the crypto market. Use trusted sources to research platforms, and never rush into an investment based on pressure or promises of quick returns. 

“Secure your online presence by avoiding public Wi-Fi when accessing trading accounts, or better yet, use a VPN to safeguard your activity. By staying informed and cautious, you can navigate the crypto space confidently and minimize your risk of falling victim to scams.”

The crypto market brings incredible opportunities but also huge risks. Scammers prey on fear, urgency, and misinformation—so staying informed is the best defense. 

In using reputable exchanges, verifying sources, and securing your online presence with tools like VPN Pro, you can trade safely and protect your investments.

The post How to Outsmart Crypto Fraud and Safeguard Your Investments appeared first on Tech | Business | Economy.

These 2024 high-growth sectors are expected to continue driving economic expansion into 2025, making them focal points for investors, business leaders, and policymakers. 

Understanding the key drivers behind these trends — technological advancements, market demand, and policy support — is essential for stakeholders aiming to capitalise on investment opportunities.

In 2024, the global investment sector has been impacted by innovations in technology, healthcare, the push for sustainability, and the digital transformation of industries. 

Overview of 2024 High-Growth Sectors

Several sectors have become unignorable growth drivers in 2024, each receiving huge investment gains. These sectors include:

1. Technology

Growth Factors: With venture capital funding in AI startups reaching over $4.7 billion globally, the technology sector has been a great performer in 2024, driven by accelerated digital adoption across industries. 

The global AI market is projected to reach $190 billion by 2025, while overall spending on digital transformation is expected to hit $3.4 trillion by 2026, growing at a CAGR of 16.3% from 2023 to 2026. 

Key areas like artificial intelligence (AI), cloud computing, and cybersecurity are seeing huge investments and AI alone is projected to contribute over $15.7 trillion to the global economy by 2030. 

The semiconductor industry, a big enabler of AI and high-performance computing, has also seen huge investments. Nvidia, for example, reached a market valuation of over $1 trillion in 2024. This surge in semiconductor demand is expected to continue into 2025, particularly as industries such as automotive, healthcare, and telecommunications increase their reliance on AI technologies.

Major Players: Globally, companies like Microsoft, Meta, Google, and Nvidia have been at the forefront and have continued to invest heavily in AI research and development, focusing on areas such as generative AI, autonomous systems, and AI-driven analytics.

Locally, companies like Paystack, Flutterwave, Interswitch, Jumia, Konga and many others are leading growth in the technology sector. 

Investor Opportunities: Investors can tap into this sector by investing in tech startups, venture capital funds focused on technology, or established companies leading the AI, cybersecurity, and cloud computing spaces.

2. Renewable Energy

Growth Factors: The need for sustainability has kept the renewable energy sector growing in 2024, with investments surpassing $1.3 trillion. Global initiatives to transition to a low-carbon economy, supported by government policies, are driving this expansion. Solar and wind power remain the leading contributors, with battery storage and electric vehicles (EVs) gaining traction.

The U.S. Inflation Reduction Act (IRA), along with similar initiatives in Europe and Asia, has ensured this move toward clean energy. Global investments in solar power alone are expected to surpass $500 billion by the end of 2024, driven by corporate commitments to reducing carbon emissions and meeting sustainability goals.

In addition, energy storage solutions, particularly battery technologies, have attracted over $90 billion in investment globally. With electric vehicles (EVs) and renewable energy generation increasing, the demand for energy storage is expected to grow exponentially in 2025.

Major Players: Tesla, Vestas, and NextEra Energy are among the leaders globally. In Nigeria, Arnergy, TotalEnergies and Daystar Power, among others are leading renewable energy innovations. Tesla continues to expand its solar energy division, while Vestas secured contracts worth over €2 billion in 2024.

Investor Opportunities: Opportunities for investors include green energy projects, renewable energy stocks, or funds focused on sustainability. Local initiatives in regions like Nigeria provide additional growth potential.

3. Healthcare

Growth Factors: The healthcare sector, particularly biotech and digital health, is another high-growth sector that saw investment scale in 2024. Global funding in digital health reached $5.7 billion in the first half of the year alone. 

Advances in biotechnology, such as gene editing, personalized medicine, telemedicine, health apps and wearable health tech are bolstering healthcare delivery, with investments expected to exceed $100 billion in 2024.

The total funding for 2024, projected to reach $40 billion, could exceed the year-end totals of 2019 and 2023, which were $8.2 billion and $10.7 billion, respectively.

Major Players: Companies like Moderna, Pfizer, and CRISPR Therapeutics lead globally, while in Nigeria, Axa Mansard Health Insurance, Medsaf, Healthtracka and Helium Health, among others continue to pioneer health innovations.

Investor Opportunities: Investors can focus on biotech firms, healthcare startups, or healthcare funds. Given the ongoing innovation in telemedicine, healthtech platforms are also worth considering.

4. Telecommunications

Growth Factors: Telecommunications has been another high-growth sector, with global 5G connections approaching close to 2 billion by the end of 2024. The sector’s expansion is being driven by the global rollout of 5G and increased demand for faster, more reliable connectivity. The market for 5G is projected to grow at a CAGR of around 60% from 2024 to 2030.

Increased demand for data storage has boosted investments in data centres, with the global data centre market expected to grow from $220 billion in 2024 to $300 billion by 2027. This is particularly strong in regions like Africa and Asia-Pacific.

Major Players: Globally, major firms like Ericsson, Huawei, Qualcomm, MTN, and Airtel among others are driving 5G expansion. Nigeria’s telecommunications sector saw commendable investment, reaching $191.57 million in Q1 2024.

Investor Opportunities: Investors can target 5G infrastructure, telecom companies, or data centre developments. The growth of the Internet of Things (IoT) and smart cities presents further investment avenues.

5. E-commerce and Consumer Goods

Growth Factors: E-commerce has maintained its upward drive in 2024, with global sales expected to hit $6.3 trillion by the end of the year. Emerging markets have contributed to this surge, while advancements in logistics and last-mile delivery solutions have further driven the growth.

Digital marketing, e-commerce innovations, and direct-to-consumer (D2C) models have gained traction in 2024. The focus on efficiency in supply chains and consumer goods strategies is expected to persist into 2025.

Major Players: Amazon and Alibaba continue to lead globally. In Nigeria, Jumia and Konga remain strong e-commerce players. Logistics firms are seeing growth, and in 2024, FMCG and electronics investments surged as consumer goods companies embraced omnichannel strategies.

Investor Opportunities: Opportunities lie in investing in logistics, e-commerce platforms, or consumer goods companies to enhance their digital presence.

6. Financial Services

Growth Factors: The financial services sector is evolving with fintech innovations and digital banking. The global fintech market is expected to grow at a CAGR of 25% to 28% from 2023 to 2028.

Major Players: International and local fintech companies like JPMorgan Chase, Stripe, Revolut, Flutterwave, Paystack Opay, PiggVest and traditional banks adapting to new trends.

Other sectors like agriculture and IT services attracted $15.8 million and $171.7 in Q1 2024 respectively. 

How AI is Transforming Financial Services

What Business Leaders Should Know: 85 Days to 2025 

So many scholars, thought leaders, and philosophers have discussed the subject matter of time. Of profound note among them is Lao Tzu, the ancient Chinese philosopher and writer, who aptly noted that “Time is a created thing.” 

According to him, to say one does not have time is like saying one does not want to. Thus, as we write about the all-important topic of time and how it flies—being used, spent, or invested—we are again face-to-face with the ephemerality of time. In this context, one can easily reflect on and learn from the quality of thoughts of politicians, businesspeople, and entrepreneurs.

For instance, politicians and business leaders approach decision-making differently due to their contexts. While politicians focus on short-term electoral cycles, prioritizing immediate results to secure votes, business leaders engage in longer-term strategic planning for sustainable growth. 

They also differ in accountability. Politicians answer to voters, influencing decisions based on public opinion, whereas business leaders report to shareholders, allowing for more calculated risk-taking.

Thus, decision-making processes vary, with politicians navigating complex negotiations and public sentiment, while business leaders enjoy greater autonomy. Overall, these distinctions shape their priorities, with politicians often reacting to social issues and business leaders focused on profitability and innovation.

So, what do business leaders, entrepreneurs, and forward-looking individuals need to know as we approach 2025? In the tech world, advancements in artificial intelligence and machine learning, the rollout of 5G networks, increased focus on sustainability and green technology, growing cybersecurity needs, progress in quantum computing, the rise of edge computing, and the growth of remote work technologies are all critical areas to watch.

In the same vein, critical sectors such as renewable energy will benefit from increased government commitments to net-zero emissions and renewable energy targets, stimulating investments and initiatives aimed at expanding renewable sources. Technological advancements in energy storage, grid management, and renewable technologies, such as solar and wind, will enhance efficiency and reduce costs, making these options more competitive.  

Corporate sustainability goals will pressure businesses to adopt clean energy solutions while rising public awareness of climate change will drive consumer demand for renewables. Additionally, investment in infrastructure, including smart grids and electric vehicle (EV) charging networks, will facilitate the integration of renewable energy.

What about the financial services sector? Digital transformation will continue to be a major growth driver, with consumers increasingly favouring online and mobile banking for convenience. Regulatory changes promoting open banking and enhancing consumer protection will encourage innovation and competition. 

Furthermore, the growing interest in environmental, social, and governance (ESG) factors will push financial institutions to develop sustainable investment products. The acceptance and regulation of cryptocurrencies and blockchain technology will create new financial offerings while rising investments in cybersecurity will be crucial as digital services expand.

To capitalize on Africa’s technological landscape, businesses should leverage mobile growth, with unique mobile subscribers projected to reach 623 million by 2025. The fintech sector, which attracted nearly $4 billion in 2021, is expected to reach $10 billion by 2025, addressing the 66% unbanked population. 

With over 300 tech hubs and startup funding rising to $2.4 billion in 2020, ensuring a resilient ecosystem is important. Additionally, investing in education is essential, as Africa needs 230 million new jobs by 2030. By embracing these strategies, entrepreneurs can drive economic growth and improve livelihoods across the continent.

Meanwhile, in healthcare services, the ongoing expansion of telehealth and remote patient monitoring will improve access to care, driven by demand for convenience and safety. An ageing global population will increase the need for healthcare services, particularly in geriatrics and chronic disease management, leading to innovative care delivery models. 

Advancements in health technologies, including artificial intelligence and personalized medicine, will revolutionize diagnostics and treatment. Growing awareness of mental health issues will further drive demand for mental health services and digital therapy platforms.

DG NITDA Pledges Continued Support to Startups Advancing AI Research

A Deep Dive into Regional Specifics

In terms of investment, North America leads in AI research and investment, particularly in health tech and cybersecurity. Europe is focusing heavily on sustainability and digital transformation, while Asia-Pacific is advancing rapidly in IoT, e-commerce, and fintech.

Renewable energy in North America benefits from strong government incentives and a growing commitment to climate goals, providing a favourable environment for investments. Technological advancements in solar and wind energy, along with innovations in energy storage, are set to enhance efficiency and lower costs. Europe is leading the way in renewable energy adoption, supported by ambitious climate targets and significant investment in infrastructure. 

The European Green Deal presents opportunities for innovation and job creation in green technologies. In Asia-Pacific, rapid urbanization and energy demand in countries like China and India present significant opportunities for renewable energy deployment, particularly in solar and wind. Government initiatives aimed at improving energy access in rural areas can drive investment.

Where Do We Go From Here?

Moving forward, the resounding question is: how can business leaders, entrepreneurs, and forward-thinking individuals make sense of this wealth of information? Business leaders can position their organizations to capitalize on opportunities while mitigating uncertainties and challenges through several strategic approaches. 

First, investing in robust market research and analysis is essential for identifying trends, consumer needs, and emerging technologies, which helps anticipate market shifts and informs product development.

Diversifying product or service lines further reduces dependence on a single revenue stream, allowing the business to tap into multiple growth areas and spread risk across different markets. Forming strategic partnerships and alliances enhances capabilities and provides access to innovative technologies, but clear agreements are essential to manage expectations.

Another point of emphasis is adopting an agile business model, which allows for quick pivots based on market feedback, enhancing responsiveness to opportunities and encouraging continuous improvement. 

Additionally, investing in the latest technologies and infrastructure streamlines operations and positions the business as a leader in innovation, provided investments align with strategic goals. A comprehensive risk management framework is vital for identifying, assessing, and mitigating potential risks, and increasing organizational resilience through regular reviews and updates.

At the organizational and personal levels, focusing on talent development by investing in employee training builds a skilled workforce capable of adapting to new challenges, enhancing engagement and retention. Finally, cultivating a customer-centric approach prioritizes understanding and meeting customer needs, which builds loyalty and informs product development.

In conclusion, Africa presents a unique environment for technological advancement, driven by mobile technology, fintech, and an active startup culture. Leveraging these opportunities will enable businesses to significantly impact the continent’s economic growth and improve livelihoods for millions.

The post 2024’s High-Growth Sectors and 2025 Prospects appeared first on Tech | Business | Economy.

Survey by TechCrunch revealed that various investors have differing tastes when seeking potential startups for investments. Let’s get on a few effective strategies that could help in winning over investors this month.

1. Target the Right Investors:

Begin by identifying investors who align with your startup’s mission and industry. Consider the sectors they focus on and their investment preferences.

2. Build Meaningful Connections:

Networking is invaluable. While cold emails are acceptable, warm introductions through your network can help your pitch stand out. It demonstrates your commitment and preparedness.

3. Showcase Domain Expertise:

If you lack technical knowledge in your field, surround yourself with a team that compensates for this gap. Domain expertise is often highly valued by investors.

4. Effective Communication:

Your pitch materials, whether in the form of pitch memos or completed decks, should clearly convey your startup’s value proposition, market opportunity, and growth strategy.

5. Ask Pertinent Questions:

During investor meetings, ask questions that provide insights into how investors can support your growth, their expectations regarding profitability, and their stance on follow-on funding.

6. Avoid Outdated Pitch Tactics:

Be mindful of outdated pitch tactics. For instance, avoid requesting significant funding without demonstrating sufficient traction, as the bar for startups has risen.

7. Build Trust and Passion:

Investors value trust and founders who are genuinely committed to solving real problems. Ensure your passion for your startup’s mission shines through.

8. Understand Your Investor:

Research your potential investor thoroughly to understand their investment model and how they engage as board members. Compatibility is key for a successful partnership.

9. Prepare for Challenges:

Be ready to discuss how you plan to navigate challenges. Investors who support startups through tough times can be invaluable partners.

10. Stay Informed:

Keep yourself updated by reading industry-relevant books, watching relevant content, and staying informed about the latest trends. This showcases your commitment to staying at the forefront of your field.

Winning investors in September 2023 requires a strategic and well-prepared approach. Trust and passion, along with a clear understanding of your investor, are the cornerstones of a successful investor-founder relationship. Stay informed, adapt to changing dynamics, and keep pushing forward towards your funding goals.

The post Expert’s Advice on Strategies to Attract Investors in September 2023  appeared first on Tech | Business | Economy.

This is according to the “NBS Foreign Trade in Goods Statistics Report for the Fourth Quarter of 2022,” which was released in Abuja on Friday.

NBS said total exports were N6.359 billion, while total imports were N5.362 billion.

According to the report, total trade was N52.387 billion on an annual basis, total imports were N25.590 billion, and total exports were N26.796 billion.

Total exports increased by 7.17 percent and 10.28 percent in Q4 2022, respectively, compared to the amounts recorded in Q3 2022 (N5.934 billion) and Q4 2021 (N5.766 billion).

The report, however, said total imports declined by 15.46 percent in Q4 2022 compared to the value recorded in Q3 2022 at N6.343 billion. Total imports also fell by 9.73 percent compared to the value recorded in the fourth quarter of 2021 at N5.940 billion.

The NBS said re-exports value in the quarter under review stood at N199.59 billion representing 3.14 percent of total exports.

“Namibia, Equatorial Guinea, Cameroun, Ghana, and Togo were the top five re-export destinations.” It said the most re-exported commodity was ‘floating or submersible drilling or production platforms, recorded at N142.02 billion.

“This was followed by cruise ships and similar vessels for transporting persons or goods worth 500 tonnes valued at N14.78 billion, refrigerated vessels, other than those of subheading 8901.20, of a capacity of 500 tonnes amounting to N13.16 billion.”

The report said the top five export destinations in Q4 2022 were Spain, Netherlands, India, France, and Indonesia, accounting for 9.70 percent, 9.03 percent, 7.71 percent, 7.70 percent, and 7.44 percent, respectively, of total exports.

Altogether, exports to the top five countries amounted to 41.59 percent of the total value of exports, NBS stated. It said the commodity with the largest export values in the period under review was petroleum oils and oils obtained from bituminous minerals, crude at N4.911 billion representing 77.24 percent.

This was followed by natural gas, liquefied at N704.88 billion, accounting for 11.08 percent, and urea, whether or not in aqueous solution, at N160.56 billion or 2.52 percent of total exports.

The top five countries of origin of imports to Nigeria in Q4 2022 were China, Belgium, India, the Netherlands, and the United States.

It stated that the value of imports from the top five countries amounted to N2.993 billion, accounting for 55.82 percent of the total import value.

The post [REPORT] Nigeria’s Total Trade for Q4 2022 Stood at N11.722b appeared first on Tech | Business | Economy.

The capital market regulator, the Securities and Exchange Commission (SEC) has given FCMB the go-ahead to approach the local capital market for a N30 billion loan.

The N30 billion will be obtained through a bond issuance program under its N300 billion debt issuance program, leaving room for the company to request additional funding as needed.

The financial institution commenced the book build in respect of the Series I Bond on Tuesday, January 24, 2023, after receiving the Central Bank of Nigeria (CBN) approval for the fundraising.

The N30 billion is a Series I Perpetual Fixed Rate Resettable NC5.25 Additional Tier 1 Bond, according to a document issued to the investment community on Wednesday.

“FCMB Group Plc (“FCMB Group”) has completed the registration of its N300 billion debt issuance program with the Securities and Exchange Commission (“the Commission”) and received the Commission’s approval to launch the Series I up to N30 billion perpetual fixed rate resettable NC5.25 billion additional tier 1 bond (“the issuance” or “Series I bond”) thereunder.

“The issuance represents the first non-sharia local currency AT1 instrument to be issued in Nigeria and has received the CBN’s no-objection.”

“FCMB Group will commence the book build in respect of the Series I Bond on January 24, 2023,” the document signed by FCMB’s Company Secretary, Funmi Adedibu, reads.

The post CBN Backs FCMB to Seek Local Investors appeared first on Tech | Business | Economy.

The two facilities are Working Capital Solutions (WCS) ($20 million) and the Global Trade Finance Program ($10 million) (GTFP).

The post FSDH Merchant Bank gets $35m Financing from IFC to Support Enterprises in Nigeria appeared first on Tech | Business | Economy.

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President Muhammadu Buhari on Tuesday approved the appointment, according to a statement by Garba Shehu, the Senior Special Assistant to the President on Media and Publicity.

She holds a Bachelor of Science degree in Economics from Ahmadu Bello University and an MBA in Finance and Banking. She is trained locally and internationally in all core aspects of her career, as well as in leadership, strategy, general management, risk management and corporate governance.

Saratu Umar is a technocrat, reformer, strategist, economist, investment promotion expert, export development specialist, with experience in banking and finance, investment and consulting segments of the public and private sectors of Nigeria.

In the short period of her service as Executive Secretary, she transformed the NIPC into a world-class investment agency and minimized revenue leakages, saving the country N500 billion, for which she received a commendation from the Revenue Mobilization Allocation and Fiscal Commission, RMFC.

The appointment is with immediate effect.

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