Cellulant, a Kenyan-based payments firm, is laying off 20% of its workforce as part of a restructuring exercise. The company says it is moving towards a learner-product-led organization, which will focus on innovation and efficiency.
In an email to staff, Cellulant CEO Akshay Grover said that the company is “cognizant of the ever-dynamic operating environment” and that the layoffs are “necessary to ensure our long-term success.” He added that the company is “adopting a product-led structure as our anchor for increased growth across the continent.”
Cellulant is one of the largest pan-African payments companies, with operations in 19 countries. The company offers both online and offline payment services to a variety of businesses, including oil and gas, ride-hailing, e-commerce, travel, logistics, retail, airlines, and fast-moving consumer goods.
The layoffs come at a time when the African tech industry is facing a number of challenges, including rising inflation and a slowdown in investment. However, Cellulant is confident that the restructuring will help it weather the storm and emerge stronger in the long run.
The company says that it will continue to invest in innovation and that it is committed to being a leader in the pan-African payments space.
The layoffs are a difficult decision for Cellulant, but the company believes that it is necessary to ensure its long-term success. The company is committed to supporting its employees through the transition and to helping them find new jobs