Branch Confirms Layoffs in Kenya and Nigeria After Profit

In Short

• Branch confirmed layoffs in Kenya and Nigeria, but did not share how many roles were affected.
• The company says the decision was not driven by financial distress.
• Branch says its Kenya and Nigeria businesses were profitable last year, and the group made about $30 million global profit in 2025.

What Happened

Branch says it has reduced headcount in some markets, including Kenya and Nigeria. Branch is a fintech that offers digital lending and banking services, meaning customers can borrow money and manage accounts through an app instead of a physical branch.

The layoffs were communicated to staff during a global all-hands meeting on April 17, 2026. After the meeting, affected employees received termination notices that took effect immediately.

Branch said the move was not because it was running out of money. The company told the publication that both its Nigeria and Kenya operations were profitable last year. It also said the wider group posted about $30 million in global profit for the 2025 financial year.

Branch added that its African entities have significant cash on hand and no debt. Debt here means borrowed money the business must repay, which can increase pressure when revenue slows.

Why It Matters

The story is a reminder that layoffs in African fintech are not only happening at struggling companies. Even profitable lenders and digital banks are trimming teams, often to keep costs down and stay profitable as customer acquisition gets more expensive.

For operators and investors, the message is that “profitability” does not always equal “no cuts.” Companies can still restructure to focus on core markets, adjust risk models in lending, or reduce overhead as they plan the next phase of growth.

For employees, immediate terminations and smaller teams can signal a tougher hiring environment in fintech, especially in roles tied to expansion. It also raises questions about how firms balance lean operations with consumer support, compliance, and credit risk management in regulated markets like Kenya and Nigeria.