Businessfront, the publishers of Techpoint Africa, Finance in Africa, Energy in Africa, and Intelpoint, has laid off an undisclosed number of employees across the group and individual publications, citing the need to ensure long-term sustainability and sharpen its strategic focus.
In an emailed response to , the company’s CEO, Muyiwa Matuloku, confirmed the layoffs, noting that only a small number of roles were affected.
“All our brands and emerging products, including Techpoint Africa, remain fully operational, and we continue to serve our audiences and clients without interruption,” Matuloku said, declining to share the exact number of affected employees and how Businessfront would support them.
Businessfront’s restructuring comes as African media businesses grapple with shrinking advertising revenues and shifting audience habits, as more readers turn to social media for news. National Media Group, once Kenya’s richest business, has laid off employees in recent years, while Standard Group has laid off 300 employees.
A survey of 300 global media business leaders found that the harsh global economic climate and a downturn in the advertising market were major contributors to layoffs. Niche and trade publications, which serve smaller audiences, have been hit hardest. Shorter attention spans, declining referral traffic from Search and social platforms, and the rise of artificial intelligence have compounded the problem, eroding the visibility and monetisation potential of these small digital newsrooms.
When revenues decline, layoffs are often the first lever media companies pull to stay afloat. In 2023, Big Cabal Media, the parent company of and Zikoko, cut 19% of its workforce, despite growing revenue by 180% year-on-year in the first half of the year. The layoffs showed how rising income alone is no longer enough to offset the cost pressures facing digital publishers.
Businessfront, which operates a free-to-read model, has likely struggled to sustain revenue amid declining ad spend. Introducing a paywall in a weak economy would not have been a solution either, as more established publications have taken down paywalls. BusinessDay, a national daily, recently took down its paywall to better understand reader behaviour, while Communiqué, a niche publication, removed its own earlier this year to expand its reach.
To survive the collapse of ad revenue, media businesses have increasingly turned to events and newsletters, building direct reader relationships and alternative revenue streams to offset declining traffic and traditional monetisation.
