Flutterwave Cuts Half of Kenya, South Africa Staff Amid Profit Push, IPO Plans
- Flutterwave has laid off 50% of its staff in Kenya and South Africa.
- The layoffs began in March 2025 and primarily affected compliance, legal, and HR teams.
- The company is rehiring for similar roles in Nigeria, its strongest market.
The significant layoffs at Flutterwave indicate a troubling trend in the fintech sector, where companies are under immense pressure to cut costs and achieve profitability. While focusing on core markets like Nigeria may stabilize operations, the loss of talent and resources in other regions could hinder long-term growth and innovation.
