Kenyan-based payments firm, Cellulant, is reportedly laying off 20% of its workforce in a restructuring exercise.
According to TechTrends Media, an email was sent to the staff by the CEO saying that the company is moving towards a learner-product-led organization.
“We are keen to drive initiatives that will boost efficiency in our operations such as such as business process automation to support our operations in multiple geographies. 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 email read in part.
“’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,” it further reads.
Cellulant’s Chief Executive Officer, Akshay Grover, says that the company is adopting a product-led structure as its anchor for increased growth across the continent.
“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,” Akshay said in a statement, “We remain cognizant of the ever-dynamic operating environment, influenced by many factors not limited to technological changes, consumer needs and market dynamics.”
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. The firm has businesses across various sectors such as oil and gas, ride-hailing, e-commerce, travel, logistics, retail, airlines, and fast-moving consumer goods, in its client list.