Pan-African payments fintech company Cellulant has announced its expansion into the MENA region after obtaining initial approval as a Payment Service Provider and Payment Facilitator in Egypt. This strategic move allows the company to bring its comprehensive payment infrastructure to one of the region’s fastest-growing digital economies.
With the new licenses, Cellulant will enable global and regional merchants in Egypt to seamlessly manage both B2B and B2C payments. The company’s solutions support a wide array of payment methods, including mobile money, wallets, cash, cards, and direct bank transfers across multiple currencies, all integrated through its single API platform, Tingg.
Tapping Into Egypt’s Digital Payment Boom
Cellulant’s entry comes at a pivotal time for Egypt’s payments sector, which has experienced explosive growth fueled by progressive regulations and a surge in fintech innovation. The market is ripe for disruption, with consumer preferences rapidly shifting away from traditional banking models.
According to the 2022 Mastercard New Payment Index, 88% of Egyptians have used at least one emerging payment method, and this trend is expected to continue. This shift requires businesses to adapt by offering a broader range of alternative and locally relevant payment options to meet customer demand.
A Strategic Move for Regional Growth
Company leadership views Egypt as a crucial launchpad for its broader ambitions in the MENA region. The new accreditation is a key step in solidifying its presence and making its payment solutions accessible to businesses operating in or entering the country.
“With the prevalence of prepaid cards and mobile wallets already exceeding 40% of the adult population in Egypt, the timing of Cellulant’s acquisition of these licences could not be more opportune,” said Ahmed Marwan, Cellulant’s General Manager for Egypt and North Africa. “More importantly, we’re committed to intensifying our efforts to provide reliable payment options for businesses in the region. By simplifying their business payment process, they can focus on their growth.”
Akshay Grover, Cellulant’s Group CEO, commented, “Egypt is such a strategic market for business growth in MENA. We’re excited to successfully secure these licences and solidify our operations in Egypt. With this accreditation in Egypt, we continue progressing our mission to create opportunities and accelerate economic growth.”
Powering Payments Across Africa and Beyond
The expansion into Egypt builds on Cellulant’s extensive footprint across Africa, where it operates in 35 markets with physical offices in 19 countries and integrates over 370 payment methods. The company has invested heavily in its infrastructure, security, and real-time payment solutions, including checkout, in-store payments, payouts, and payment links.
Today, Cellulant processes 20 million transactions monthly, valued at approximately $1 billion, for over 2,000 businesses. Its client roster includes global brands across diverse sectors such as airlines, telecommunications, e-commerce, ride-hailing, retail, and remittances.
About Cellulant
Founded nearly 20 years ago, Cellulant is a leading Pan-African payments technology company that provides locally relevant and alternative payment methods for global, regional, and local merchants. The company offers a single API payments platform, Tingg, 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.
Source: Africa Business Communities
