The Nigerian fintech is reorganising its engineering and product departments into smaller teams, with affected employees expected to learn their status in November.
Moniepoint is restructuring its engineering and product departments, offering some employees five months’ salary to leave voluntarily as the financial technology company changes how it develops and manages its products.
The process, announced internally on October 19, is expected to conclude by the end of December 2026, according to a report by TechCabal citing employees familiar with the matter.
The company plans to replace parts of its existing structure with smaller teams responsible for products from development through daily operations. It is also introducing platform architect roles to oversee the shared technology systems that support its services.
A Moniepoint spokesperson said the changes are part of a strategic review to prepare the business for its next stage of growth, adding that the exercise should not be classified as a layoff.
Employees Face Role Assessments
According to the report, the voluntary exit window closed on October 23. Employees were expected to receive updates on whether their positions would be affected between November 2 and November 11.
Moniepoint has not disclosed how many employees could leave the company. Staff who applied for voluntary exit may not automatically be approved, as the company can reject applications from workers whose skills remain necessary to its operations.
The restructuring affects roles across backend, frontend, and mobile engineering, quality assurance, and product management. The changes also extend to the different countries where Moniepoint operates.
Employees will be assessed using criteria that include work quality, delivery, adaptability, performance history and length of service. The company will also consider affected workers for available positions elsewhere in the business before confirming redundancies.
Smaller Teams to Take Greater Responsibility
Moniepoint said the new structure is intended to reduce coordination and make teams more accountable for the products they build.
Under the proposed model, smaller product-area teams will manage their work from development to operation, while platform architects oversee shared systems. The company expects this arrangement to support faster product development, improve reliability and help it serve customers as the business expands.
The changes follow years of growth during which Moniepoint added engineers, product managers, financial products and internal technology tools. The company now appears to be adjusting its organisational structure to reduce layers of review and decision-making.
Restructuring Amid Continued Expansion
The changes come as Moniepoint continues to expand its financial services operations while reviewing where to direct its resources.
Founded in 2015 as TeamApt, the company reached unicorn status in October 2024 after raising $110 million in a Series C funding round. It says its subsidiaries process more than $400 billion in digital payments annually.
In March 2026, Moniepoint acquired a 78% stake in Kenya’s Sumac Microfinance Bank. In August, it began phasing out MonieWorld, its UK remittance service, less than 18 months after launch.
Despite the planned role reductions, the company has continued recruiting. TechCabal reported that Moniepoint hired more than 120 people in October. In May, CEO Tosin Eniolorunda also discussed difficulties filling approximately 500 vacancies, later clarifying that the shortage involved senior technical talent.
AI and Leaner Workforces in Focus
The restructuring comes amid wider discussions across the technology industry about using artificial intelligence and smaller teams to improve productivity. According to TechCabal, Moniepoint had discussed internally how AI could streamline product management earlier this year.
However, the company has not identified AI as a cause of the restructuring, and it would be inaccurate to attribute the planned redundancies directly to automation based on the available information.
Other technology companies have made similar organisational changes. Block, the parent company of Square and Cash App, announced major workforce reductions in February, linking them to AI tools and a move towards smaller teams. African technology businesses, including Jumia and Branch, have also reduced staff as they restructure operations or pursue profitability.
For Moniepoint, the immediate challenge will be to implement its new structure while retaining the expertise needed to maintain its financial services and support continued expansion.
Source: TechCabal