Nigerian fintech giant, Paystack, is reducing its workforce by 33 employees in Europe and the UAE as part of a strategic shift to concentrate operations within its primary markets in Africa. CEO Shola Akinlade highlighted the move to localize talent and costs while emphasizing proximity to key markets. The affected staff will receive a comprehensive severance package. This decision comes amid Paystack's expansion efforts in Nigeria, introducing new products like virtual terminals and direct debit to capitalize on the surge in electronic payments.
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