Tech

Kenyan fintech startup, Cellulant lays off 20% of workforce

Published

1 year ago

August 24, 2023

As part of measures to stay afloat due to harsh economic conditions, Kenya-based fintech, Cellulant has laid off 20% of its workforce.

In an announcement of the job cuts made in an email sent to staff by the Chief Executive Officer of Cellulant, Akshay Grover, the move by the payments platform was to restructure the fintech so as to move it towards a learner-product-led organisation.

‘’We are keen to drive initiatives that will boost efficiency in our operations such as business process automation to support our operations in multiple geographies,” the CEO announced.

“We will continue to allocate capital in areas that will drive the growth of the business and ensure we remain a market-leading player in the industry.

‘’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.

‘’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.

‘’This is part of its new organizational strategy that will see the company enhance its service offerings to evolving customer needs across the 19 countries it operates in,” Grover added.

Cellulant Kenya which was launched in the eastern African country in 2003, has since grown into one of the largest pan-African payments companies offering both online and offline payments, with businesses across various sectors such as oil and gas, ride-hailing, e-commerce, travel, logistics, retail, airlines, and fast-moving consumer goods.

But the company has been struggling in recent years especially after the Corona virus-induced global economic meltdown and the attendant effect on businesses across the world.

Related Topics:Cellulant Economy Featured Kenya

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

15 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

2 days ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.