Flutterwave Lays Off Half Of Its Staff In Kenya & SA
This suggests that Flutterwave may be reevaluating its operations amid pressure from investors to deliver profits.
African fintech unicorn, Flutterwave has cut 50 percent of its staff in Kenya and South Africa, in an effort to reduce costs and move closer to profitability ahead of a potential public listing.
This moves comes barely a year after the company laid off 3 percent of its workforce. This round of layoffs will affect multiple departments, with the most impact seed in legal, human resources (HR), and compliance teams, according to TechCabal. This suggests that Flutterwave may be reevaluating its operations amid pressure from investors to deliver profits.
According to TechCabal, the company began downsizing in March 2025. In Kenya, where the company had 20 employees, roughly half were laid off. Three other employees left voluntarily in the weeks that followed. One person disclosed that while some roles were eliminated, similar positions are now being rehired in Nigeria, Flutterwave’s largest and most established market.
Flutterwave confirmed the cuts in a statement but said they were part of a broader performance and strategy-led review.
“These actions are a normal but necessary part of ensuring we operate at the highest level across every part of the business,” Flutterwave said. “We recognise and reward impact, and we make changes when expectations are not met.”
More than half of the South African team, mostly in sales, was also cut. Flutterwave has not commented on the exact number of affected staff.
Fewer than eight employees are now believed to remain for Kenyan operations, mainly focused on compliance matters. Among those who voluntarily exited are Leon Kiptum, the company’s former regional manager for East Africa, and Saruni Maina, associate VP for stablecoins. Both joined Flutterwave in June 2023 as part of a bullish push into the Kenyan market.
Flutterwave said it issued bonuses and promotions to high-performing staff during the same review cycle.
