Cellulant, a Pan African payments firm has announced it will be adopting a product-led structure as its anchor for increased growth across the continent. This move will see its current workforce cut by 20%. The company has said this new organizational strategy will see the company enhance its service offerings to evolving customer needs across the 19 countries it operates in.
The fintech has said the new strategy is informed by emerging market dynamics, investments in automation, and the recent consolidation of its product offerings in four categories anchored by its robust banking, card and MoMo wallet solutions on its payments platform.
“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.”
Grover explained the new implementation of the strategy business shift would entail consolidating essential functions and creating new roles. “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.”
An email sent to the team today reads, “These actions will result in the reorganization of select roles and will impact 20% of our current headcount.” The email further adds this is the first of critical steps necessary for the company’s future success.
