Digital lending platform Branch has reduced its workforce in Nigeria and Kenya despite reporting an estimated $30 million global profit for the 2025 financial year, raising fresh concerns over job security within Africa’s fintech sector.
The company confirmed that the layoffs affected employees across its African operations as part of an internal restructuring process aimed at streamlining operations and improving long-term efficiency.
Affected staff members were reportedly informed during a company-wide virtual meeting before receiving termination notices that took immediate effect on the same day.
Brandspur Banking News Desk gathered that Branch maintained the decision was not linked to financial distress, insisting that both its Nigerian and Kenyan businesses remained profitable throughout the 2025 financial year.
The fintech company also disclosed that it retains strong liquidity levels across its African operations and currently operates without debt within the region.
Sources familiar with the development said employee access to company systems and official communication platforms was disabled shortly after the layoff announcements were communicated internally.
Despite the workforce reduction, the company confirmed that affected workers would receive severance packages that include a minimum of four months’ salary, notice compensation, payment for unused leave days, and continued health insurance coverage through the end of 2026.
Branch, founded in 2015, has grown into one of Africa’s largest digital lending platforms, providing mobile-based loans and financial services across Nigeria, Kenya, Tanzania, and India.
The fintech company says it has served more than 13 million customers globally and processed over 54 million loans valued at more than $1.8 billion since inception.
Industry data also shows that Branch has raised more than $274 million from international investors across multiple funding rounds to support its expansion within emerging markets.
The latest layoffs come at a time when Africa’s technology and fintech sectors continue to witness operational restructuring, cost optimisation strategies, and changing workforce priorities despite sustained growth in digital financial services adoption across the continent.
