Cellulant gets nod from the Kenyan Central Bank to operate in the country
Cellulant, a Payment Service Provider has gotten the approval of the Central Bank of Kenya to expand its payments services for businesses, banks, and consumers in the East African country.
With this approval, Cellulant will continue to allow businesses to collect payments online and offline, while allowing anyone to pay with their mobile money, local and international cards, or directly from their bank.
The finance payment platform was founded by Ken Njoroge and Bolaji Akinboro in 2003. Cellulant is among the pioneering fintech companies in Kenya and Africa in general and has a history of driving innovation through creative technical solutions delivered with an optimized user experience. Over the past decade, the company has evolved its payment solutions from mobile banking services to offer a comprehensive, one-stop-shop payment platform for global, regional, and local businesses.
“As the payments industry has evolved globally, we are fortunate that the Central Bank of Kenya has provided a regulatory framework and environment that has enabled companies like Cellulant to operate while adhering to the highest standards in payment, provision of payment solutions to companies and their users. This authorization will allow us to continue to better serve our customers with guaranteed safe and regulated conditions so that we can facilitate payments,” said Faith Nkatha, Country Manager for Cellulant in Kenya.
The fintech company has partnerships with 45 of the largest mobile money operators and 210 banks in Africa and has a converged payments ecosystem that brings together a network of banks, businesses, mobile network operators, and consumers. The company provides its services in 35 countries in Africa, including Ghana, Botswana, Nigeria, Kenya, Cameroon, Uganda, Tanzania, Zambia, Egypt, Ethiopia, and South Africa, and offers the largest and most connected payment network on the continent.
Cellulant is a leading Pan African payments company that provides locally relevant and alternative payment methods for global, regional, and local merchants. It provides a single API payments platform that enables businesses to collect payments online and offline while allowing anyone to pay from their mobile money, local and international cards, or directly from their bank.
Cellulant’s Payment gateway – Tingg – addresses the complex payments needs of businesses. Tingg makes it easy to receive and make payments, allowing businesses anywhere in Africa and the world to deliver seamless payment experiences for their customers. Cellulant has an office presence in 18 African countries with a payments platform connecting thousands of businesses with 257 payment methods across 35 countries. The platform powers payments for 220M consumers on a single inclusive network allowing interoperability across Africa.
David Waithaka, Group Chief Revenue Officer at Cellulant commenting on the development, said “A connected payment network is integral to the prosperity of businesses in Kenya and Africa in general. Due to the fragmentation of the industry, most companies are forced to integrate multiple payment providers simply to operate on a day-to-day basis. For Cellulant, simplifying the payment experience and providing business tools to manage all of their payments frees businesses to focus on their growth, thereby creating opportunities that accelerate growth for everyone.”