Since 2020, Africa’s tech industry has experienced notable workforce reductions, driven by economic pressures, regulatory challenges, and shifting consumer behavior. The COVID-19 pandemic and broader global trends have especially impacted sectors like e-commerce and fintech, forcing companies to cut jobs and restructure operations.

According to a report by Business Financing UK, based on data from Layoffs.fyi, African tech companies have collectively laid off 3,160 employees over the past four years. Below is a summary of the 10 largest layoffs:

1. Jumia – 900 Jobs Cut
   Africa’s largest e-commerce platform, Jumia, downsized by 900 staff in November 2023 due to rising operational costs and competitive pressures.
2. Alerzo – 400 Jobs Cut (June 2023)
   Nigerian B2B e-commerce firm Alerzo reduced its workforce by 400, reflecting the strain faced by digital marketplaces adjusting to lower demand.
3. Renmoney – 391 Jobs Cut (April 2020)
   At the start of the pandemic, Nigerian fintech Renmoney streamlined operations, letting go of 391 employees to adjust to reduced lending activities.
4. Copia – 350 Jobs Cut (July 2023)
   Kenyan e-commerce platform Copia laid off 350 staff as part of a business restructuring effort aimed at adapting to changing consumer habits.
5. Wave – 300 Jobs Cut (July 2022)
   Ghana-based fintech Wave let go of 300 employees due to economic and regulatory hurdles affecting mobile money services.
6. Twiga – 283 Jobs Cut (August 2023)
   Agritech company Twiga, which links farmers with retailers, reduced staff by 283 as part of operational realignment efforts.
7. Twiga – 211 Jobs Cut (November 2022)
   In a second round of layoffs, Twiga dismissed another 211 workers to boost efficiency amid challenging market conditions.
8. mPharma – 150 Jobs Cut (April 2023)
   Ghanaian healthtech firm mPharma laid off 150 employees, citing the need to adapt its pharmaceutical services to evolving industry demands.
9. Alerzo – 100 Jobs Cut (November 2023)
   Following its earlier cuts, Alerzo reduced its workforce further by 100 jobs, signaling continued pressure on Nigerian e-commerce platforms.
10. Bitmex – 75 Jobs Cut (April 2022)
    Crypto exchange Bitmex trimmed its team by 75 due to market volatility and regulatory challenges in the global crypto space.

These layoffs illustrate not just local challenges, but a reflection of global tech industry trends where cost-cutting and sustainability measures have taken precedence over aggressive expansion.