Nigerian property startup Spleet lays off employees as inflation squeezes business
- Spleet, a property tech startup, is laying off employees due to inflation and price increases from landlords.
- The layoffs will affect non-core operations employees, but the exact number is undisclosed.
- Spleet allows Nigerians to rent properties and pay monthly, but landlords are demanding higher rent.
The layoffs at Spleet due to inflation and increased rental prices highlight the challenges faced by property tech startups in Nigeria. The demand for higher rent from landlords is impacting the affordability of properties for tenants, leading to financial pressure on companies like Spleet. This situation calls for a deeper examination of the real estate market and the need for sustainable solutions to address the housing deficit in Nigeria.
