Branch lays off staff in Nigeria and Kenya despite a $30 million profit

Visa-backed fintech company Branch International has carried out layoffs affecting employees in Nigeria and Kenya, even though the company posted a global profit of about $30 million in 2025.

The move reportedly caught several employees off guard, with some saying they lost access to company systems shortly after a global meeting where the decision was communicated.

Branch, one of Africa’s prominent digital lending platforms, however, maintains that the layoffs are not linked to financial distress. The company said both its Nigerian and Kenyan operations remained profitable, adding that it continues to hold significant cash reserves and is not under pressure from fundraising constraints.

The firm also clarified that the restructuring is part of broader operational adjustments aimed at improving efficiency, rather than a response to losses or financial instability.

While the exact number of affected employees has not been disclosed, Branch said those impacted will receive severance packages, including at least four months’ compensation, notice pay, and continued health insurance coverage through 2026.

Founded in 2015, Branch has grown into a major player in Africa’s digital lending space, offering instant loans to millions of users across several markets. The latest layoffs highlight a wider shift in the fintech sector, where companies are increasingly prioritising profitability and leaner operations after years of aggressive expansion fueled by venture capital.

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