The tech industry in Africa has not been immune to the global wave of layoffs triggered by the COVID-19 pandemic and subsequent economic challenges. Below is a list of the 10 biggest tech company layoffs across the continent since 2020, reflecting the scale of workforce reductions amid shifting market dynamics and strategic realignments.
1. Jumia
- Industry: E-commerce
- Staff Laid Off: 900
- Country: Nigeria
- Date: November 2023
Jumia, often referred to as the “Amazon of Africa,” implemented the largest single layoff event in the continent’s tech sector, shedding 900 employees in one go.
2. Alerzo
- Industry: E-commerce
- Staff Laid Off: 400
- Country: Nigeria
- Date: June 2023
Alerzo, a B2B e-commerce platform serving small retailers, also experienced significant workforce reductions with 400 layoffs.
3. Renmoney
- Industry: Fintech
- Staff Laid Off: 391
- Country: Nigeria
- Date: April 2020
Renmoney, a Nigerian fintech company, faced substantial layoffs early in the pandemic, reducing its workforce by 391 employees.
4. Copia
- Industry: E-commerce
- Staff Laid Off: 350
- Country: Kenya
- Date: July 2023
Copia, which provides e-commerce services in Kenya, laid off 350 employees as part of a restructuring effort.
5. Wave
- Industry: Fintech
- Staff Laid Off: 300
- Country: Ghana
- Date: July 2022
Wave, a fintech company known for its mobile money services, reduced its workforce by 300 in Ghana.
6. Twiga
- Industry: Agritech
- Staff Laid Off: 283
- Country: Kenya
- Date: August 2023
Twiga, a Kenyan agritech firm, implemented significant layoffs totaling 283 employees.
7. Twiga
- Industry: Agritech
- Staff Laid Off: 211
- Country: Kenya
- Date: November 2022
Twiga’s second major round of layoffs occurred in November 2022, affecting 211 employees.
8. mPharma
- Industry: Medical
- Staff Laid Off: 150
- Country: Ghana
- Date: April 2023
mPharma, a medical distribution company, laid off 150 employees in Ghana as part of its cost-cutting measures.
9. Alerzo
- Industry: E-commerce
- Staff Laid Off: 100
- Country: Nigeria
- Date: November 2023
In addition to its June layoffs, Alerzo further reduced its workforce by 100 employees in November 2023.
10. Bitmex
- Industry: Crypto
- Staff Laid Off: 75
- Country: Seychelles
- Date: April 2022
Bitmex, a cryptocurrency exchange, reduced its Seychelles-based team by 75 employees in early 2022.
Context and Impact
The African tech sector, like its global counterparts, faced considerable upheaval as companies adapted to changing economic conditions and technological advancements. The layoffs reflect a broader trend of cost-cutting and strategic realignments necessary to navigate the post-pandemic economy and the rapid evolution of technology.
Note: The global tech industry continues to experience significant workforce reductions, with substantial job cuts recorded in 2024, underscoring the ongoing impact of these economic and technological shifts.