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Leadership Shift: Cellulant Faces Surprise Exit as CEO Akshay Grover Departs Amidst Growth Plans

Leadership Shift: Cellulant Faces Surprise Exit as CEO Akshay Grover Departs Amidst Growth Plans

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In an unexpected move, Akshay Grover, CEO of African payment giant Cellulant, steps down after less than three years, citing personal reasons. The company reassures its commitment to sustained growth under the interim leadership of Peter O'Toole, the current CFO, with further leadership additions on the horizon.

Akshay Grover, appointed Group CEO of Cellulant in July 2021, is resigning this month for personal reasons. The CFO, Peter O'Toole, assumes the role of Acting CEO as the company emphasizes continuity and growth. Despite past challenges, including a financial misconduct crisis, Cellulant has been a prominent player in Africa's payment landscape, undergoing strategic shifts and workforce adjustments in 2023. The departure comes amid the company's pursuit of a $100 million series D round, which was paused in 2022.


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