Cellulant, a payments firm, is preparing to lay off 20% of its workforce as part of a restructuring effort aimed at transitioning to a learner-product-led organization. The fintech company is set to implement the workforce reduction in the near future.
The CEO of Cellulant conveyed the company’s intention to enhance operational efficiency through initiatives like business process automation to support operations across multiple geographical regions. The company intends to allocate capital to areas that foster business growth and solidify its position as a market-leading player in the industry.
The restructuring will involve the consolidation of key functions and the creation of new roles within the organization. As a result, approximately 20% of the existing workforce will be affected by these changes.
While acknowledging the difficulty of the decisions made, the CEO emphasized that they are crucial for the company’s future success in introducing innovative products and solutions that cater to customer needs.
Akshay Grover, Cellulant’s Chief Executive Officer since 2021, stated that the company is adopting a product-led organizational structure to drive growth across the African continent. This shift aligns with Cellulant’s new strategic approach to enhancing service offerings and adapting to evolving customer requirements in the 19 countries it operates in.
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Grover noted that the company is mindful of the ever-changing operating landscape influenced by technological advancements, changing consumer preferences, and market dynamics.
Having launched in Kenya in 2003, Cellulant has evolved into one of the largest pan-African payments companies, offering a range of online and offline payment solutions. The company serves clients from diverse sectors, including oil and gas, ride-hailing, e-commerce, travel, logistics, retail, airlines, and fast-moving consumer goods.
Grover expressed confidence in Cellulant’s journey as a leader in the pan-African payments industry, underscoring the importance of innovation, efficiency, and agility as guiding principles for the company’s future endeavors.
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