Employees at fintech company Branch International were caught off guard after the Visa-backed digital lender abruptly laid off workers in Kenya and Nigeria, even as the company insisted it remained profitable and financially strong.
The San Francisco-headquartered startup, one of Africa’s largest app-based lenders, confirmed it had reduced staff across parts of its business, describing the move as a “difficult decision” tied to broader operational adjustments rather than financial distress.
But for several employees, the layoffs came without warning.
According to multiple sources familiar with the matter, affected workers were informed during a global all-hands meeting on April 17, before receiving termination notices that took effect immediately. Some employees reportedly lost access to company systems and work emails shortly after the meeting ended.
“We were aware of the company-wide meeting, but nobody expected people would be laid off,” one former employee stated, according to TechCabal.
