FinTech Company Branch Lays off Employees In Kenya and Nigeria Amid $30 Million Profit Returns
Visa-backed fintech Branch International has laid off employees in Kenya and Nigeria despite posting a $30 million global profit in 2025.
Branch, one of Africa’s largest app-based lenders, confirmed it reduced staff across parts of its business. A representative termed the lay off as a “difficult decision” tied to broader operational adjustments rather than financial distress.
But for several employees, the layoffs came without warning. According to multiple sources familiar with the matter, affected workers were informed during a global all-hands meeting on April 17.They then received termination notices that took effect immediately. Some employees reportedly lost access to company systems and work emails shortly after the meeting ended.
A now ex-employee said, “We were aware of the company-wide meeting, but nobody expected people would be laid off.”
The layoffs underscore a growing shift across Africa’s once fast-expanding fintech sector. A sector where companies are increasingly prioritizing profitability, operational efficiency and cost control after years of aggressive hiring and expansion fuelled by investor capital.
Answering whether the company laid off its employees out of financial struggles one of its representatives said, “This was not a decision driven by financial distress. Both our Nigeria and Kenya markets were profitable last year. Branch International declared a global profit of approximately $30 million for the 2025 financial year.”
Still, the decision has raised questions internally, particularly because some employees said management had recently discussed possible fundraising plans. Several staff members said they did not anticipate layoffs would follow.
The company declined to disclose how many employees were affected or which departments experienced cuts. The scale of the layoffs remained difficult to determine because many workers had already been operating remotely. This has made the reductions less visible than traditional office-based layoffs.
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The released employees will receive substantial severance support. It has been confirmed that employees will receive at least four months of compensation, including salary, notice pay and unused leave days. Health insurance coverage will also remain active through the end of 2026.
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Visa-Backed, San Francisco-headquartered Branch!
The San Francisco-headquartered startup, Founded in 2015, is one of Africa’s most prominent digital lending platforms. It offers instant smartphone-based loans to users across Kenya, Nigeria, Tanzania and India.
The company reports to have served more than 13 million customers and issued over 54 million loans valued at more than $1.8 billion.
Branch has raised more than $274 million from investors, including payments giant Visa, according to Crunchbase data. In 2022, the company deepened its push into African banking after acquiring a majority stake in Kenya’s Century Microfinance Bank.
