Cellulant, a fintech startup that entered the Zambian market in 2011, has focused on the country's payments ecosystem after initially being involved in banking. Gilbert Lungu, the General Manager of Cellulant Zambia, discussed the company's operations and the state of payments in Zambia in an interview with TechCabal. Initially, Cellulant provided mobile banking platforms and merchant aggregation services for banks. However, in 2017-2018, the company pivoted to payments, recognizing the opportunity to address the lack of a dominant mobile network operator and the fragmentation in the market. Lungu believes that Zambia is poised to become a significant tech hub with innovations in sectors such as ecommerce. However, challenges remain, including limited access to capital for startups, a lack of incubation hubs, and a fragmented ecosystem. Lungu suggests solutions such as accessing government funds for startups, creating stronger collaboration between private sector players and the government, and developing incubation hubs. Despite challenges, Cellulant has experienced significant growth in Zambia, driven by new products, legacy offerings, and strategic partnerships. Lungu also discusses the changing competitive landscape and Cellulant's future goals of becoming the leading payments provider in Zambia and the most loved payments brand in the country. The company aims to achieve these goals through organic growth, building on existing partnerships, and exploring new opportunities in the market.

Read more on TechCabal