Branch International, the San Francisco headquartered digital banking and lending platform, has laid off an undisclosed number of employees in Kenya and Nigeria as part of what the company described as a difficult decision to reduce headcount across some of its markets.
Sources familiar with the development, including affected workers, confirmed the layoffs, while an internal communication reportedly outlined severance arrangements for impacted employees. The company, however, did not disclose the exact number of staff affected in both countries.
The development reflects a broader trend within Africa’s fintech industry, where many startups are increasingly shifting attention from rapid expansion to cost control, operational efficiency, and profitability despite signs of improving investment conditions across the sector.
Branch said its operations in both Kenya and Nigeria remained profitable in the last financial year, adding that the wider group recorded an estimated global profit of about $30 million in 2025. Industry analysts say the latest move underscores the growing pressure on fintech firms to maintain sustainable business models amid changing market realities and investor expectations.