Cellulant Recognized for Excellence in Delivering Embedded Fintech Solutions Across Africa

Cellular (, Africa’s leading payments company, won the Award for Excellence in Embedded Fintech at the 7th edition of the African Fintech Conference in Washington, DC, in conjunction with the IMF and World Bank Spring Meetings last month.

The Africa Fintech Summit brings together diverse stakeholders in the fintech space, offering avenues for idea exploration, investment mobilization, and collaboration across sectors and geographies. The Summit highlighted the problems and opportunities in Africa’s finance sector and the entrepreneurs driving the revolution on the world stage.

The award ceremony dubbed the Annual Award at the Fintech Awards recognizes African fintech stakeholders for enabling Africa’s entrepreneurial ecosystem and driving financial inclusion and literacy through innovation.

Cellulant is known for building payment channels that allow access to financial services for both businesses and individuals, thereby offering a seamless payment experience.

Embedded financing is proposed to accelerate growth and drive innovation across Africa. According to a report by Research and Markets, the embedded finance industry in Africa and the Middle East is forecast to grow by 45.3% annually, leveraging strategic partnerships to drive financial inclusion. By integrating financial products that are tailored to user needs in the business infrastructure, customers can access financial services more quickly and smoothly. Users get access to money-related services when they need them.

Commenting on the recognition of embedded fintech solutions, Cellulant Chief Executive Officer Akshay Grover stated, “The payments market in Africa is growing rapidly, ranking second globally with digital financial services as a key driver. As a result, this increased the financial inclusion rate to 43% in 2017 from 23% in 2011. For Cellulant, by providing a pathway for global, regional and local businesses to own their financial journey, we are opening up opportunities for people to become independent and financially empowered. We are proud of this award as it is a testament to the incredible work our teams are doing across the continent in enabling rail-powered online and offline payments for all businesses and their customers.”

Cellulant empowers collection and payments for thousands of businesses across sectors in 35 countries in Africa. The company provides their customers with more than 280 locally relevant payment methods, including mobile money, cards & bank. Key customers among these customers include Emirates, Bolt, Citibank and

Cellulant’s single API payment gateway, High (, enabling global, regional and local businesses to collect payments online and offline while allowing anyone to pay from mobile money, local and international cards, or directly from their bank. Tigg supports payments for 220 million consumers in one inclusive network, enabling interoperability across Africa.

On the ‘Embedded Everything’ panel discussing the impact of embedded finance, Milkah Wachiuri, Head of Growth at Cellulant Group, stated, “While access to financial services is still a distant reality for many on the African continent, steps are being made towards financial inclusivity in the latter has been significant. Embedded finance drastically reduces the friction of adoption of financial products, shifts the payment experience for customers, and enables the realization of financial and economic inclusion goals for more Africans.”

The Africa Fintech Summit (AFTS) honors 14 prominent African ecosystem stakeholders. AFTS US Director of Partnerships & Sales, Sarah Chepkoech, revealed and presented gifts during the Network Lunch Reception on Thursday, April 21.

Distributed by APO Group on behalf of Cellulant.

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Cellulant Recognized for Excellence in Delivering Embedded Fintech Solutions Across Africa

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