Companies

Cellulant co-founder Ken Njoroge to depart in June after 18 years

cellulant

Cellulant co-founder and Group CEO Ken Njoroge during an interview at his Nairobi office. PHOTO | FILE

Cellulant co-founder and chief executive Ken Njoroge will exit in June after 18 years in the Pan-African payment gateway firm.

Mr Njoroge said he would stay on as a director on the board.

“I will transition from my role as the CEO by the end of June and spend the rest of the year supporting all the teams and the new leader in the transition. I will remain a shareholder and director on the board,” he said in a statement.

His departure comes barely a year after his Nigerian co-founder Bolaji Akinboro left the company.

Mr Akinboro exited the business last August via stake sale that ushered in more shareholders into the business.

Mr Njoroge says following the exit of Mr Akinboro, he realised that the “next phase of business growth needed an ‘enterprise runner’ rather than a ‘venture builder’. “

“As a natural builder, this reflection allowed me to see that I had given the business the best of my abilities in establishing an enduring business, built on strong governance, systems and culture,” he says of his decision to leave.

The father of three, who quit medical school to pursue IT at Strathmore University, said he would now spend more time with his family.

Cellulant’s digital payment infrastructure connects consumers and business to more than 120 banks, 40 mobile network operators in a network allowing for interoperability. The firm operates in 33 markets and has offices in 18 countries across Africa.