Nairobi, Kenya — Visa-backed fintech company Branch International has announced layoffs in Kenya and Nigeria, despite reporting a $30 million global profit in 2025.
The layoffs, which the company described as a ‘difficult decision,’are part of broader operational adjustments aimed at enhancing profitability and efficiency. Branch International, a San Francisco-headquartered fintech offering digital banking and lending services, has been a significant player in Africa’s rapidly growing fintech industry.
The layoffs have left employees in Kenya and Nigeria caught off guard, with some workers losing access to company systems immediately following a global meeting.
According to reports, the job cuts are not linked to financial distress or fundraising pressures. Instead, Branch International maintains that the layoffs are a strategic move to streamline operations and focus on leaner, more profitable models. This shift reflects a broader trend across African fintech, where startups are increasingly prioritizing profitability over aggressive expansion.
The layoffs come as the fintech industry in Africa continues to attract significant investment. Despite the layoffs, Branch International has remained committed to its mission of providing accessible financial services to underserved populations.
The company has been actively involved in various initiatives aimed at promoting financial inclusion, including partnerships with United Way to support women entrepreneurs.
The move underscores the challenges and opportunities in Africa’s fintech landscape, as startups balance profitability with social impact.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Segun Adeyemi
