Nigerian cryptocurrency startup Zap Africa has reduced its workforce by 44 percent as part of a restructuring aimed at shifting to a leaner, automation driven model. The Lagos based company cut roles across design, operations, marketing, and support teams in February 2026, bringing total headcount from 18 to 10 employees. The move follows earlier job reductions that began in December 2025.
Co founder and Chief Technology Officer Moore Dagogo Hart said the restructuring was targeted rather than company wide, describing it as part of an effort to align operating costs with revenue generating priorities. According to him, the startup remains operationally stable and does not plan further layoffs. Affected staff were provided severance packages in line with their contracts, while core teams across product, engineering, finance, legal, operations, and growth remain intact.
The workforce reduction comes amid a prolonged global crypto downturn that has pressured startups to preserve capital. As digital asset prices retreated sharply from 2024 highs, retail trading activity slowed, pushing firms to rely more heavily on over the counter transactions for revenue. Similar belt tightening was seen during the 2022 downturn when Quidax reduced its workforce to extend runway. For Zap Africa, the restructuring reflects the tension between maintaining growth ambitions and surviving a bear market.
At the centre of the automation push is Martha AI, a tool developed by Dagogo Hart’s other venture, Cognito Systems. Integrated into Zap Africa’s customer support workflow, the system handles first line enquiries, reducing reliance on human agents. Former employees said the shift rendered some roles redundant as the company prioritised artificial intelligence driven efficiency.
Founded in 2023, Zap Africa raised 300,000 dollars in pre seed funding in 2024 and reported processing over 17 million dollars in crypto transactions by 2025. The company has also faced operational pressures and market volatility, alongside a public trademark dispute with Paystack that heightened its visibility. While management insists development of its wallet and exchange products continues as planned, the February restructuring marks a defining moment for a young startup navigating the risks and realities of a highly cyclical industry.