Branch International Trims Workforce in Nigeria and Kenya Despite Profit Growth

Branch International has cut jobs in Nigeria and Kenya, even as it posted a global profit of some $30 million in the 2025 financial year.

The Visa-backed fintech confirmed the layoffs, saying they were part of larger operational adjustments and not due to financial problems. But a number of affected workers reportedly learned of the news unexpectedly during a global company meeting held April 17.

Some employees reportedly lost access to work systems and company emails soon after the meeting was over.

“We knew there was a company-wide meeting,” said a former employee, “but nobody thought people were going to get laid off.”

The move comes as a growing trend across Africa’s fintech space, where many startups are now taking a back seat on growth and more on profitability and cost control after years of aggressive expansion.

Branch layoffs stir fresh concerns

Despite the layoffs at Branch, the company said its finances remain strong. This was not a financially distressed decision,” the company said. Branch said last year both its Nigerian and Kenyan operations were still profitable. The fintech also stated it has substantial cash reserves on hand presently and no debt.

But the layoffs came as a surprise to some workers who said management had discussed fundraising plans with them internally before the cuts. The company said the job cuts were unrelated to fundraising activities. Branch also declined to say how many workers were affected or what departments were involved.

Meanwhile, the fintech said affected staff will be offered severance packages which include their salary, notice pay and accrued unused leave days. Your health insurance coverage will continue through the end of 2026 as well.

Founded in 2015, Branch has become one of Africa’s leading digital lenders by offering smartphone-based loans across Nigeria, Kenya, Tanzania and India. The company claims to have served more than 13 million customers and processed more than 54 million loans worth over $1.8 billion.

Visa is still one of the company’s big investors. Branch has raised over $274 million in funding over the years, data from Crunchbase shows.

The fintech furthered its banking ambitions in 2022 after acquiring a majority stake in Kenya’s Century Microfinance Bank.