Kenyans may be seeing a significant reduction in the number of commercial banks in the country as a new amendment bill aims to raise core capital requirements for banks to KES10 billion ($77 million) by 2027, up from the current KES1 billion ($7.7 million). This proposed change could lead to the closure of as many as 24 Kenyan banks, which would have eight years to raise their minimum statutory capital to at least KES10 billion.

In other news, Amazon is working on a new and improved version of Alexa AI that can customize responses to real-time user queries about the news. The new version of Alexa is powered by generative AI and will answer complex user queries, such as the status of polls during an election.

In Nigeria, a new report from Duplo reveals that 56% of finance employees are unhappy with their salaries. Only a small number, about 3%, are happy with their pay. The report highlights that compensation satisfaction is closely tied to employee retention, and those dissatisfied with their pay are more likely to look for new jobs. Mid-level professionals earning between ₦500,000 ($302) and ₦1,000,000 ($603) said they are likely to leave their jobs, either for better pay abroad or at more competitive local companies.

In the finance sector, organizations that provide clear pay structures will have a better shot at retaining talent. In 2024, two Nigerian commercial banks, Union Bank of Nigeria and GTBank, increased employee salaries to help them adjust to the country's cost of living crisis.

In startup news, AltSchool Africa is expanding to Europe, adding a new layer to its offerings after receiving applications from companies across the world to help curate courses and build infrastructure for workforce development. The startup claims it has started conversations to offer such services to organizations in Malta, where it will launch its first operations in Europe.

Access Bank, a Nigerian tier-1 commercial bank, is building Access Africa, a payment product that will allow Access Bank account holders to send money across the continent. The bank has been building this payment rail since May 2024 when it announced a partnership with Mastercard.

In clean energy news, the African Development Bank (AfDB) has approved a $170 million loan to help Egypt set up its largest wind energy project, the GW Suez Wind Project. The project will cost about $1.1 billion and is expected to generate 4,111 gigawatt hours (GWh) annually, supplying clean, reliable, and affordable energy to over one million households.

Finally, opportunities are available for startups, including the 2025 Google for Startups Growth Academy: AI for Cybersecurity, a three-month hybrid program for Seed to Series A startups using AI to tackle cybersecurity challenges. Applications are also open for the CcHub-Mastercard Foundation Edtech Fellowship 2025, which offers African edtech startups $100,000 in equity-free funding, expert mentorship, and access to an investor network.