Cellulant Announces Leadership Team Amid Restructuring

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African fintech company Cellulant has announced a significant shake-up in its executive ranks. The company, which recently underwent a series of layoffs and saw the departure of key leadership figures, has welcomed a new slate of C-Suite executives to steer the organisation towards a new growth trajectory.

This move follows a tumultuous period for Cellulant, marked by a third round of layoffs in December 2023 and the subsequent exit of several high-profile executives, including former CEO Akshay Grover. Peter O’Toole, who stepped in as the acting CEO, expressed optimism about the company’s future with the newly appointed leaders.

“We are thrilled to welcome these new leaders to Cellulant. Their specific expertise in payments and financial services will be instrumental as we strengthen our capabilities in product growth, service delivery, operational efficiency, and risk management,” said O’Toole.

Among the key appointments is Andy O’Sullivan, who will assume the role of Chief Technology Officer. O’Sullivan brings a wealth of experience from his tenure at Geidea Group, Network International, and Telr. Gbenga Haastrup, with an extensive background spanning UMBA, ATB Financial, Interswitch, UBA, and Standard Chartered Bank, has been appointed as the Executive for Risk and Compliance.

Irene Koki will serve as the Head of Internal Audit, reporting directly to the board of directors. Koki, who boasts over 15 years in risk and audit roles, is expected to provide valuable insights into the company’s internal processes. Additionally, Ochebhoya Ekpete, with senior finance roles at Thames Water, Stripe, and Interswitch Nigeria, will lead the finance division. Susan Fouche, formerly with Visa and Barclays, will serve as the Chief People Officer, focusing on human resource strategies and employee development.

O’Toole reiterated Cellulant’s commitment to becoming a sustainable and profitable payments company, leveraging the expertise of the new leadership team to enhance its global service offerings.

The changes at Cellulant come at a time when the fintech landscape in Africa is undergoing a significant transformation. Established players, including Chipper Cash, Wave, Sendy, and Twiga, are also grappling with operational challenges amidst a global economic downturn. Cellulant’s strategic appointments signal its determination to adapt and thrive in this evolving market.