Cellulant, the African payments company valued at $133 million in 2022, has announced new leaders three months after its CEO and four senior managers left.
Peter O’Toole, the former CFO, is now the acting CEO following the Akshay Grover’s exit. Andy O’Sullivan, who co-founded Innovate Payments, takes over as the new CTO from George Murage, who has moved to Pesalink.
Gbenga Haastrup, with experience at UMBA, Interswitch, UBA, and Standard Chartered Bank, joins as the executive consultant for governance, risk, and compliance.
Other appointments include Irene Koki as head of internal audit, Ochebhoya Ekpete as vice president of group finance, and Susan Fouche as the Group chief people officer.
These hires are crucial for Cellulant’s business across 13 African markets. The company aims to excel in checkout, payout, and banking solutions, focusing on sustainability and profitability.
In 2024, Cellulant plans to invest in product development, service delivery, and risk management. This follows a tough 2023 with three rounds of job cuts. Despite not securing a $100 million Series D funding, Cellulant, with $54.4 million raised, is in talks with investors but won’t seek more funds in 2024.
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