Moniepoint, the Nigerian monetary products and services corporate, is restructuring its engineering and product groups, with some roles set to transform redundant. The corporate is providing affected staff a voluntary go out bundle and plans to finish the method via the tip of December, in step with two staff with direct wisdom of the subject.
The restructuring, introduced internally to body of workers on Monday, October 19, introduces smaller groups answerable for construction and working merchandise from finish to finish, along new platform architect roles to supervise shared era methods.
Moniepoint has grown from a unmarried product right into a monetary products and services team spanning bills, banking, credit score and trade control. It now needs smaller groups with clearer accountability for supply and operations, fairly than depending on a couple of layers of coordination and sign-off.
A Moniepoint spokesperson mentioned the restructuring will have to now not be thought to be a layoff. The corporate didn’t divulge what number of staff could be affected.
Group of workers had been presented 5 months’ wage to renounce voluntarily. Alternatively, Moniepoint can reject programs from staff whose talents it nonetheless wishes, in step with two staff who requested to not be named to talk freely. The voluntary go out window closed on Friday, October 23, and body of workers will probably be instructed whether or not their roles are affected between November 2 and November 11.
“As a part of Moniepoint’s common strategic assessment of operations, the control is restructuring the engineering and product purposes for the following degree of expansion,” the corporate mentioned in a commentary shared with TechCabal on Monday. “The corporate is transferring to a construction of platform teams made up of small, centered product-area groups, every proudly owning what it builds from finish to finish.”
Moniepoint closely employed engineers and product managers because it grew to a unicorn valuation, construction a number of monetary merchandise and a variety of inner gear. Because the groups grew, so did the layers of assessment and sign-off that gradual massive tech corporations down.
The restructuring is Moniepoint’s resolution. Small groups will every personal a product from construct to operation, and new platform architects will design and oversee the shared methods underneath them.
A lot of a product supervisor’s process is coordination: writing specs, atmosphere priorities, and passing paintings from design to engineering to high quality assurance. When one group owns a product finish to finish, there are fewer handoffs, and less persons are had to arrange them.
“This fashion is designed for a trade of the corporate’s dimension and ambition, giving groups larger autonomy and clearer responsibility, whilst enabling quicker product building, larger operational reliability, extra constant provider for a rising buyer base, and smoother growth into new markets,” Moniepoint added within the commentary.
Platform possession
Moniepoint mentioned the brand new construction calls for fewer roles in some spaces whilst growing others. In consequence, some current roles will transform redundant. The corporate mentioned it might believe affected staff for open positions somewhere else within the trade and would begin redundancy consultations best the place it can not establish appropriate roles.
Workers in backend, frontend, cell and quality-assurance engineering, in addition to product control, are affected. The adjustments practice around the nations the place Moniepoint operates.
Workers will probably be assessed towards written standards overlaying supply and flexibility, paintings high quality, their monitor report, and period of provider. Engineering leaders will rating body of workers, and the human sources group will assessment the ratings throughout groups. Prior to any position is showed as redundant, the corporate will test for open roles that might swimsuit the individual.
The restructuring comes as Moniepoint expands its monetary products and services trade and makes a decision the place to deploy its sources.
Based in 2015 as TeamApt, Moniepoint became a unicorn in October 2024 after a $110 million Sequence C spherical. The corporate says its subsidiaries procedure greater than $400 billion in virtual bills a yr. In March, it bought a 78% stake in Kenya’s Sumac Microfinance Financial institution and, in August, phased out MonieWorld, its UK remittance product, lower than 18 months after release.
The process cuts come as Moniepoint continues to rent. The corporate employed greater than 120 folks in October, in step with one worker, and taken in numerous heads of division from out of doors Nigeria, in step with some other. In Might, Tosin Eniolorunda, Moniepoint’s leader government officer, said the company was struggling to fill about 500 vacancies, later clarifying that the dearth used to be in senior technical skill.
Previous this yr, Moniepoint mentioned internally how synthetic intelligence may streamline product control, in step with one worker. Whilst the corporate didn’t title AI a driving force of the restructuring, the dialogue displays a much wider query of whether or not automation and new techniques of establishing paintings will permit era corporations to ship extra with smaller groups. In February, Zap Africa, a Nigerian cryptocurrency startup, cut 44% of its workforce as “a part of an AI-driven potency shift.”
Wider shift
Moniepoint isn’t the primary era corporate to argue that smaller groups and clearer possession can support productiveness. In February, Block, the guardian corporate of Sq. and Money App, minimize 4,000 jobs, about 40% of its personnel. Leader government Jack Dorsey linked the cuts to AI gear and a transfer in opposition to “smaller and flatter groups.”
Throughout Africa, corporations have additionally decreased body of workers whilst seeking to support profitability or refocus operations. Department laid off employees in Kenya and Nigeria in Might, regardless of reporting about $30 million in benefit in 2025. That very same month, Jumia mentioned it would cut about 200 jobs because it integrated AI into operations, logistics, finance, and advertising.
TechCabal Insights discovered that restructuring used to be the commonest explanation why African tech corporations gave for layoffs between January 2023 and March 2026, whilst one cited AI. If smaller groups paintings for the corporations that take a look at them, and AI helps to keep getting higher on the specialized duties the ones groups used to percentage, extra African tech corporations will rent fewer folks to do the similar paintings.
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