JOHANNESBURG, March 27, 2025 /PRNewswire/ — The IT News Africa BFSI Security Summit 2025 is set to take place on May 7, 2025, at the Radisson Blu Gautrain, Sandton, Johannesburg, bringing together leading cybersecurity experts, IT decision-makers, and industry pioneers to tackle the growing cyber risks facing Africa’s banking, financial services, and insurance (BFSI) sector.

Cybersecurity remains a top concern for financial institutions in Africa. In 2024, the Bank of Uganda fell victim to an offshore hacking group known as “Waste,” resulting in the theft of approximately $16.8 million. Additionally, ZB Financial Holdings in Zimbabwe experienced a ransomware attack in July 2024, leading to significant data leaks affecting customer and operational information. More recently, in South Africa, Standard Bank confirmed that it experienced a data breach that involved limited personal and financial information. These incidents underscore the urgent need for robust cybersecurity strategies within the BFSI sector.

Why Attend?
The BFSI Security Summit is the premier platform for CISOs, CIOs, IT directors, and cybersecurity leaders to explore the latest strategies and technologies to secure Africa’s financial landscape. Key topics on the agenda include:

• Ransomware and Data Breaches: Strengthening cybersecurity resilience in banking and insurance.
• Securing Emerging Tech: Mitigating risks in AI, blockchain, and cloud adoption.
• Data Privacy and Compliance: Navigating Africa’s evolving regulatory landscape.
• Incident Response in BFSI: Best practices in breach management and risk mitigation.

“Cybercrime is evolving at an alarming rate, and financial institutions in Africa are prime targets. The BFSI Security Summit will provide a crucial platform for industry leaders to collaborate, share insights, and implement strategies to safeguard their organizations,” says Abe Wakama, CEO of IT News Africa.

Who Should Sponsor & Exhibit?
The summit offers a unique opportunity for cybersecurity solution providers, fintech innovators, and IT security firms to showcase their expertise and connect with key decision-makers. Sponsors will benefit from high-impact brand visibility, lead generation, and networking with top BFSI executives.

How to Get Involved

• To attend: Register here: BFSI Security Summit Registration
• To sponsor or exhibit: Download the sponsorship brochure: Sponsorship Opportunities
• To speak at the event: Apply here: Become a Speaker

For media inquiries, sponsorship, or speaking opportunities, contact events@itnewsafrica.com. 

Join us in shaping the future of BFSI cybersecurity in Africa!

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Nanoprecise Secures US:38 million in Series C funding in a combined equity & debt round to make industrial maintenance smarter, faster, and more predictable

EDMONTON, AB, March 27, 2025 /PRNewswire/ — Nanoprecise Sci Corp is breaking the reactive cycle that has been a fixture of industrial maintenance for too long. On the heels of triple-digit growth in 2024, Nanoprecise is moving boldly to scale its world leading Energy-Centered Maintenance (ECM) approach and enhance its AI-driven diagnostics that deliver actionable explanations, rather than just alert notifications.

The oversubscribed equity financing led by Yaletown Partners and co-led by BDC’s Industrial Innovation Venture Fund , with participation from Export Development Canada (EDC), BMO Capital Partners, alongside a Credit facility from CIBC Innovation Banking, provides Nanoprecise the resources to rapidly expand its market presence and accelerate its strategic initiatives.

“Predictive maintenance is no longer a ‘nice-to-have’ – it’s a strategic necessity for industrial resilience and efficiency,” commented Hans Knapp, Partner and Co-founder at Yaletown Partners. “Nanoprecise is not just talking about efficiency to the customers but is also displaying the same discipline in its finances, as it has achieved maximum revenue per dollar of investor funds raised in its class. We are excited to support their mission to scale Energy-Centered Maintenance globally.“

“As industries accelerate their digital transformation journey, Nanoprecise delivers a scalable, high- impact solution that simultaneously drives operational reliability and sustainability outcomes. BDC Capital is proud to co-lead this investment in a company that perfectly aligns with our mission to support the next generation of global Canadian technology leaders,” said Erin Sheets, Partner at BDC’s Industrial Innovation Venture Fund. “Nanoprecise’s strength lies in their diverse approach – both in terms of the global markets they serve and their team composition. This diversity, combined with their innovative use of LLM models to generate synthetic data, positions them to outperform much larger competitors in both accuracy of insights and cost-effectiveness of their solution.”

Smarter Maintenance, Fewer Surprises

Most predictive maintenance programs count saving downtime as the only major ROI, which is true for roughly 10 to 20% of production critical machinery. However, 80 to 90% of the rotating equipment in any process industry has some form of redundancy, so solely saving downtime does not capture full value. On the remaining 80% of a plant’s equipment, Nanoprecise’s trademarked ECM approach provides maintenance insights alongside energy consumption patterns which, if acted upon, provide energy savings that justify using ECM not just for saving downtime on critical machinery, but also on the “balance of plant” equipment.

Nanoprecise changes the game with AI-driven diagnostics that go beyond detection, to deliver clear, actionable, value-oriented insights. Some of the key differentiating features are fewer false alarms, with less than 1% false positives and negatives, prescriptive value-driven insights and energy efficiency trends. Nanoprecise’s solution is uniquely built for tough environments, with certifications such as Zone 0 and C1D1 requirements, all while being cybersecure by design (SOC II Type II certified).

“Catching failures before they happen is important, but today, that’s just step one,” said Sunil Vedula, CEO of Nanoprecise. With this investment, we’re taking maintenance from a game of guesswork to a strategic advantage. Machines won’t just tell you something’s wrong; they’ll give you the full picture – what’s happening, why it matters, and exactly what to do next. Our vision? To make maintenance teams the most informed, proactive decision-makers in the room.“

Scaling Innovation with New Leadership

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To support its rapid growth, Nanoprecise has recently expanded its leadership team to scale its vision globally:

• Param Desai joins as Chief Product Officer (CPO), driving AI-powered product innovation.
• Kevin Clark joins as Chief Evangelist, helping industries embrace ECM.

About Nanoprecise Sci Corp

Nanoprecise Sci Corp is an AI-powered energy centered predictive maintenance solution combining IoT sensor technology with artificial intelligence and machine learning to improve efficiency of machines and contribute to sustainability. For more information, please visit nanoprecise.io

About Yaletown Partners

Yaletown Partners is a leading Canadian venture capital fund manager that invests in the technologies digitally transforming traditional industries by prioritizing climate-resilient growth. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Edmonton, Toronto, Montréal, and San Francisco. For more information, please visit https://www.yaletown.com/.

About BDC: 80 years as Canada’s bank for entrepreneurs

BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC’s development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. The financial value of BDC’s services is estimated to add $23.6 billion in GDP to Canada’s economy over the next five years. We are one of Canada’s Top 100 Employers and Canada’s Best Diversity Employers and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit bdc.ca or join BDC on social media.

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The Popular AI Trading Giant AlgosOne.ai Declines Massive Acquisition Bids before AiAO Coin Debut

NEW YORK, March 27, 2025 /PRNewswire/ — Since the start of 2025 AlgosOne, a leading AI-driven trading platform has declined a series of acquisition bids from prominent hedge funds, leading cryptocurrency exchanges and AI technology firms based in China, Europe, and the United States. The offers have ranged between $250M and $500M. The AI sector is gearing up for major players trying to invest and purchase AI startups.

According to AlgosOne CMO, Alex Andera, the decision to reject these offers was based on the team’s complete confidence in the project’s potential and future market valuation. AlgosOne is strategically focused on launching its native AIAO token in Q2 2025. In addition to governance rights, AIAO holders will receive regular dividends, with AlgosOne becoming publicly owned by its token holders.

“We appreciate the recent recognition from major industry players,” said Andera. “But, with the upcoming AIAO token launch and our continued focus on AI trading innovation, we believe we can exceed these valuations.

Andera continued “Rather than a large conglomerate, we want our token holders to own the project, because our priority remains delivering long-term value to our community and investors.“

The AIAO token supply will be capped at 1 billion tokens. The high-profile firms that had sought to acquire AlgosOne have now expressed keen interest in participating in the upcoming sale, and receiving sizable token allocations, further validating the project’s massive market potential.

However, by staying independent, AlgosOne aims to ensure that its technology and ecosystem remain accessible to a global audience. AlgosOne’s leadership is dedicated to offering users and investors a unique opportunity to be part of the next step in the evolution of AI-based finance.

About Algosone.ai

AlgosOne is an AI trading platform at the forefront of AI trading. It combines proprietary algorithms with advanced natural language processing models to analyze vast datasets and predict price trajectories across diverse market sectors. Using its capabilities AlgosOne delivers automated trading solutions for retail investors without trading experience or market dynamics understanding. With its upcoming AIAO token launch, AlgosOne is set to redefine the role of AI in the financial markets.

https://algosone.ai/

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