Welcome to a new month! 
Artificial intelligence continues to evolve in fascinating ways. Just yesterday, I experimented with Google’s AI Studio by uploading a simple photo and was amazed as it effortlessly transformed my hairstyle and facial features. This platform also excels at generating immersive visuals, from bustling urban landscapes to nostalgic retro aesthetics. Meanwhile, Meta is reportedly planning to integrate Google’s Gemini and OpenAI’s AI models into WhatsApp, Instagram, and Facebook, as it prepares the next iteration of its Llama AI.
Have you explored AI Studio yet? What are your thoughts?
– Emmanuel
Let’s get started.
- Kenya’s eBee announces widespread staff reductions
- GTCO injects $236 million capital into GTBank
- FAAN and Pastack unveil tap-to-pay card solutions
- South Africa challenges new US parcel regulations
- Exploring the future of the World Wide Web 3
- Latest job opportunities
Industry Updates
Kenya’s eBee Africa Implements Company-Wide Layoffs Amid Financial Struggles
Kenya’s eBee Africa has faced a turbulent 2025, marked by the unexpected departure of its CEO and co-founder in March, followed by a contentious tax dispute with the Kenya Revenue Authority regarding the classification of imported electric bicycles.
Most recently, the company has executed significant layoffs across all departments. By mid-2025, many remaining employees voluntarily resigned, leaving eBee operating with a minimal workforce.
Reasons cited for the downsizing include declining revenue streams, escalating operational expenses, and unsustainable payroll costs. The company is also restructuring to adopt a more streamlined business model.
Originally, eBee was hailed as a pioneer in Kenya’s green transportation sector. It launched partnerships with major delivery platforms such as Jumia, Glovo, and Bolt, expanded operations into Uganda and Rwanda by mid-2024, and ambitiously aimed to deploy one million electric bicycles across Africa by 2030.
Why this matters: The electric mobility market in Kenya is at a critical juncture. Many consumers, constrained by limited disposable income, are opting for more affordable used motorcycles, leaving electric bicycles struggling to gain traction.
While eBee remains operational, the future of electric mobility in the region hinges on overcoming affordability and demand challenges to avoid stagnation.
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Financial Sector
GTCO Infuses $236 Million into GTBank to Comply with Central Bank of Nigeria Capital Mandate
Guaranty Trust Holding Company Plc (GTCO) has recently injected ₦365.85 billion (approximately $236 million) into its subsidiary, GTBank, to satisfy the Central Bank of Nigeria’s (CBN) capital adequacy requirements. This capital boost enables GTBank to retain its international banking license, expand its lending capacity, grow its branch network, and upgrade its technological infrastructure.
Background: In March 2024, the CBN mandated Nigerian banks to raise additional capital to mitigate the impacts of the naira’s depreciation and ongoing inflationary pressures. The directive set a minimum capital threshold of ₦500 billion (around $325 million) for banks with international licenses, including GTBank, with non-compliance risking license revocation.
Current status: GTCO has successfully surpassed this requirement by raising ₦504 billion ($327 million) through the issuance of nearly 7 billion new shares. The recapitalization was executed in two stages: a domestic public offering in 2024 and a $105 million listing on the London Stock Exchange this year. These funds facilitated GTCO’s participation in GTBank’s rights issue, ensuring the bank’s capital base exceeds the CBN’s stipulated minimum.
Industry outlook: GTCO is among at least eight Nigerian banks that have met the CBN’s recapitalization deadline ahead of the March 2026 cutoff. Banks that fail to meet these requirements may face consolidation or mergers to strengthen the sector’s stability.
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Fintech Innovations
FAAN and Paystack Introduce Contactless Payment Cards at Lagos and Abuja Airports
The Federal Airports Authority of Nigeria (FAAN) has teamed up with Paystack to launch prepaid tap-and-go cards at the entry and exit points of Lagos and Abuja international airports. This initiative allows drivers to simply tap their cards for swift access, with plans to extend the system to all FAAN-operated airports nationwide by the close of 2025.
Rationale behind the initiative: This rollout aligns with FAAN Managing Director Olubunmi Kuku’s vision to digitize airport operations and enhance non-aeronautical revenue streams, which currently contribute approximately 8% of FAAN’s total income. The tap-and-pay cards aim to streamline digital transactions and diversify revenue sources.
Paystack’s robust platform manages transaction encryption and fee processing, significantly improving cash collection efficiency, especially during peak traffic hours. For FAAN, this represents both a technological advancement and a strategic revenue enhancement.
Contextual overview: This partnership is part of Nigeria’s wider movement towards cashless payment systems in transportation. For instance, in 2020, the Lagos State Government collaborated with YC-backed Tap-and-Pay Technologies to introduce Cowry cards for public transit. The critical factor now is the adoption rate among airport drivers, which will determine the success of FAAN’s modernization and revenue diversification efforts.
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Economic Developments
South Africa Responds to New U.S. Parcel Duty Regulations
In July, the United States eliminated the duty-free threshold for international parcels valued under $800, mandating that postal services collect and remit U.S. duties before dispatching packages.
South Africa’s countermeasure: The South African Post Office (SAPO) has halted all outbound parcels destined for the U.S. until a compliant system is established. Parcels currently held at SAPO’s Germiston International Mail Centre are being returned to senders. Only letters, official documents, and military mail continue to be processed.
Challenges facing SAPO: This suspension occurs amid SAPO’s ongoing financial struggles. Revenue has plummeted from over $305 million in 2019 to just above $90 million in 2024, pushing the state-owned entity into business rescue. Despite government bailouts exceeding $11 million and debt relief efforts, SAPO remains financially vulnerable.
For many South Africans, the impact may be limited as private courier companies like Aramex, City Logistics, and UPS dominate the country’s Courier, Express, and Parcel (CEP) market, which is valued at approximately $223.6 million.
While SAPO’s response appears pragmatic given the new U.S. regulations, reducing services risks further diminishing the institution’s relevance in an already competitive market.
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CRYPTO MARKET SNAPSHOT
Exploring the Expanding Web3 Ecosystem
Data Source:
| Cryptocurrency | Price (USD) | 24h Change | 30d Change |
|---|---|---|---|
 Bitcoin |
$107,686 |
-0.88% |
-5.50% |
| Ethereum |
$4,391 |
-1.47% |
+24.60% |
| XRP |
$2.71 |
-4.34% |
-10.00% |
| Solana |
$198.02 |
-3.00% |
+19.98% |
* Prices and changes accurate as of 6:30 PM WAT, September 1, 2025.
Current Job Listings
- Palmpay – Head of User Growth – Lagos, Nigeria
- Squads Game – Product Manager – Hybrid (Lagos, Nigeria)
- Tuteria – Performance Marketing Specialist – Lagos, Nigeria
- Flourish Health – Cryptocurrency Marketing Lead – Lagos, Nigeria
- Fairmoney – Growth Marketing Manager – Hybrid (Lagos, Nigeria)
- Busha – Senior Technical Product Manager – Hybrid (Lagos, Nigeria)
- Promasidor – Digital Marketing Specialist – Lagos, Nigeria
- Parcelhero – Senior Performance Marketing Manager – Remote (Lagos, Nigeria)
- Moniepoint – CRM Manager – Lagos, Nigeria
- Reliance Health – Product Manager (Clinical Services) – Remote (Lagos, Nigeria)
- Pharmarun – Growth Associate (B2B Sales – HMO Focus) – Lagos, Nigeria
Discover additional opportunities on TechCabal’s job board. Employers interested in posting vacancies can submit listings via bit.ly/tcxjobs.
Authors: Opeyemi Kareem and Ifeoluwa Aigbiniode
Editor: Ganiu Oloruntade
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