Cellulant, a leading pan-African payments firm, has announced adopting a product-led strategy as its anchor for increased growth across the continent.
The fintech, which powers payments for over 1,500 global, regional and local businesses across various sectors, said the new strategy is informed by emerging market dynamics, investments in automation, and the recent consolidation of their product offerings.
The platform enables customers to pay and get paid using any payment method of their choice, including mobile money, cards, bank accounts, QR codes and USSD.
“We remain cognizant of the ever-dynamic operating environment, influenced by many factors not limited to technological changes, consumer needs and market dynamics,” said Akshay Grover, Chief Executive Officer.
“We’re therefore pursuing a leaner product-led strategy to support our scale and increase customer base. We also aim to drive operational efficiency measures to support our growth and operations in multiple geographies.”
20% of its workforce impacted
‘’The proposed initiatives will lead to a consolidation of key functions and the creation of new roles. These actions will result in the reorganisation of select roles and will impact 20% of our current headcount,’’ Akshay said in an email to his staff.
‘’The decisions we have made, tough as they, are critical to our future success and being a leader in bringing to the market innovative products and solutions that our customers benefit from.
Cellulant started operations in Kenya in 2003 and has since grown to become one of the largest pan-African payments companies offering both online and offline payments. Some of its clients include Uber, KFC, Jumia, DHL, Shell and Kenya Airways.
Grover said the new implementation of the strategy business shift would entail consolidating essential functions and creating new roles.
“Cellulant has come a long way to become a leader in the pan-African payments space. Innovation, efficiency, and agility will underpin our narrative over the next few years, and these are the first of critical steps,” he said.
The company operates in 19 countries across Africa, including Nigeria, Ghana, Uganda, Tanzania, Zambia, Zimbabwe, Botswana, Mozambique and Malawi.
It also has offices in Dubai and Mauritius. Cellulant aims to connect 700 million African consumers with digital services that improve their daily lives.