Branch International, a San Francisco-headquartered fintech offering digital banking and lending services, has laid off an undisclosed number of employees in Kenya and Nigeria in what it described as “the difficult decision to reduce headcount across some of our markets.”
Several sources familiar with the matter, including affected employees, confirmed the layoffs to TechCabal. An internal email seen by TechCabal outlined the severance terms offered to affected employees.
The job cuts highlight a broader shift across African fintech, where startups are prioritising leaner operations and profitability over aggressive expansion, even as funding conditions improve. Branch said both its Kenya and Nigeria businesses remained profitable last year, while the group posted roughly $30 million in global profit for 2025.
Branch informed affected employees during a global all-hands meeting on April 17 before sending termination notices that took effect immediately. “Your last day of employment will be today, April 17, 2026,” part of the email read.
“This was not a decision driven by financial distress,” Branch told TechCabal in an emailed response on Tuesday. ”Both our Nigeria and Kenya markets were profitable last year, and Branch International declared a global profit of approximately $30 million for the 2025 financial year.”
