Cellulant, the Pan-African payment gateway firm, has announced the appointment of Peter O'Toole as the acting CEO, following the sudden departure of Akshay Grover who assumed the position in October 2021.

The company revealed in a statement on Thursday that Grover is stepping down to focus on personal matters, and the changes are effective immediately.

Grover, who took over as the CEO after serving as CFO for three months, had succeeded Ken Njoroge, the co-founder who resigned after 18 years in charge.

"Under his leadership, Cellulant has strengthened its position both on the African continent and internationally. His efforts have been pivotal in enhancing the Cellulant brand and driving the company's strategic objectives," stated Cellulant in acknowledgement of Grover's contributions.

Cellulant expressed its commitment to maintaining momentum and sustaining growth during this leadership transition.

Read More

  1. Kenyan fintech firm Cellulant workers a worried lot as 20 per cent layoffs loom
  2. Credit Bank unveils multi-billion partnership on affordable remittances
  3. Safaricom, NCBA win tender for cashless fare payment services in PSV matatus

The company plans to bolster its leadership team with seasoned senior executives boasting international and Pan-African experience in the payments sector.

Further announcements regarding these appointments are expected in the coming months.

O'Toole, the newly appointed acting CEO, assumed the role of CFO at Cellulant last year.

With over 30 years of experience in banking, finance, payments, and technology across Europe, the Middle East, and Africa, O'Toole is well-equipped to steer the company's strategic direction and expansion.

O'Toole's professional background includes various roles at Interswitch, Renmoney, MBU Education Group, and digital bank Umba.

He has also held high-profile positions such as CFO at the United Kingdom-based data and analytics firm Dun & Bradstreet and finance and operations director at Barclays Bank in Ireland.

As Cellulant embraces this leadership transition, the company looks toward O'Toole to lead with his extensive experience and contribute to the continued growth and success of the organization.