Moniepoint, the Nigerian monetary providers firm, is restructuring its engineering and product groups, with some roles set to change into redundant. The firm is providing affected staff a voluntary exit package deal and plans to full the method by the tip of December, in accordance to two staff with direct information of the matter.
The restructuring, introduced internally to workers on Monday, October 19, introduces smaller groups answerable for constructing and working merchandise from finish to finish, alongside new platform architect roles to oversee shared expertise methods.
Moniepoint has grown from a single product right into a monetary providers group spanning funds, banking, credit score and enterprise administration. It now desires smaller groups with clearer duty for supply and operations, fairly than counting on a number of layers of coordination and sign-off.
A Moniepoint spokesperson mentioned the restructuring shouldn’t be considered a layoff. The firm didn’t disclose what number of staff could be affected.
Staff had been provided 5 months’ wage to resign voluntarily. However, Moniepoint can reject functions from staff whose abilities it nonetheless wants, in accordance to two staff who requested not to be named to communicate freely. The voluntary exit window closed on Friday, October 23, and workers will probably be instructed whether or not their roles are affected between November 2 and November 11.
“As part of Moniepoint’s regular strategic review of operations, the management is restructuring the engineering and product functions for the next stage of growth,” the corporate mentioned in an announcement shared with TechCabal on Monday. “The company is moving to a structure of platform groups made up of small, focused product-area teams, each owning what it builds from end to end.”
Moniepoint closely employed engineers and product managers because it grew to a unicorn valuation, constructing a number of monetary merchandise and a spread of inside instruments. As the groups grew, so did the layers of assessment and sign-off that gradual giant tech corporations down.
The restructuring is Moniepoint’s reply. Small groups will every personal a product from construct to operation, and new platform architects will design and oversee the shared methods beneath them.
Much of a product supervisor’s job is coordination: writing specs, setting priorities, and passing work from design to engineering to high quality assurance. When one group owns a product finish to finish, there are fewer handoffs, and fewer persons are wanted to handle them.
“This model is designed for a business of the company’s size and ambition, giving teams greater autonomy and clearer accountability, while enabling faster product development, greater operational reliability, more consistent service for a growing customer base, and smoother expansion into new markets,” Moniepoint added in the assertion.
Platform possession
Moniepoint mentioned the brand new construction requires fewer roles in some areas whereas creating others. As a outcome, some current roles will change into redundant. The firm mentioned it will contemplate affected staff for open positions elsewhere in the enterprise and would provoke redundancy consultations solely the place it can not determine appropriate roles.
Employees in backend, frontend, cell and quality-assurance engineering, in addition to product administration, are affected. The modifications apply throughout the nations the place Moniepoint operates.
Employees will probably be assessed in opposition to written standards overlaying supply and adaptableness, work high quality, their observe report, and size of service. Engineering leaders will rating workers, and the human assets group will assessment the scores throughout groups. Before any function is confirmed as redundant, the corporate will examine for open roles that might go well with the individual.
The restructuring comes as Moniepoint expands its monetary providers enterprise and decides the place to deploy its assets.
Founded in 2015 as TeamApt, Moniepoint became a unicorn in October 2024 after a $110 million Series C spherical. The firm says its subsidiaries course of greater than $400 billion in digital funds a 12 months. In March, it bought a 78% stake in Kenya’s Sumac Microfinance Bank and, in August, phased out MonieWorld, its UK remittance product, lower than 18 months after launch.
The job cuts come as Moniepoint continues to rent. The firm employed greater than 120 individuals in October, in accordance to one worker, and introduced in a number of heads of division from exterior Nigeria, in accordance to one other. In May, Tosin Eniolorunda, Moniepoint’s chief govt officer, said the company was struggling to fill about 500 vacancies, later clarifying that the scarcity was in senior technical expertise.
Earlier this 12 months, Moniepoint mentioned internally how synthetic intelligence might streamline product administration, in accordance to one worker. While the corporate didn’t title AI a driver of the restructuring, the dialogue displays a wider query of whether or not automation and new methods of organising work will allow expertise corporations to ship extra with smaller groups. In February, Zap Africa, a Nigerian cryptocurrency startup, cut 44% of its workforce as “part of an AI-driven efficiency shift.”
Wider shift
Moniepoint just isn’t the primary expertise firm to argue that smaller groups and clearer possession can enhance productiveness. In February, Block, the father or mother firm of Square and Cash App, cut 4,000 jobs, about 40% of its workforce. Chief govt Jack Dorsey linked the cuts to AI instruments and a transfer in direction of “smaller and flatter teams.”
Across Africa, corporations have additionally decreased workers whereas making an attempt to enhance profitability or refocus operations. Branch laid off employees in Kenya and Nigeria in May, regardless of reporting about $30 million in revenue in 2025. That similar month, Jumia mentioned it would cut about 200 jobs because it integrated AI into operations, logistics, finance, and advertising.
TechCabal Insights discovered that restructuring was the most typical purpose African tech corporations gave for layoffs between January 2023 and March 2026, whereas one cited AI. If smaller groups work for the businesses that attempt them, and AI retains getting higher on the specialised duties these groups used to share, extra African tech corporations will rent fewer individuals to do the identical work.
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