This archive report was first published on 25 September 2019.
On September 25, 2019, Ken Njoroge, the co-founder and CEO of Cellulant, was recognized as the 2019 Social Entrepreneur of the Year by the Schwab Foundation, a prestigious award affiliated with the World Economic Forum.
The foundation praised Mr. Njoroge for his dedication to training and advising the next generation of entrepreneurs, contributing to the growth of the entrepreneurship ecosystem in Africa.
Cellulant, a digital payments and financial services company, has made significant strides in providing services to various sectors, including retail, agriculture, transport, logistics, and e-commerce.
Speaking about the award, Mr. Njoroge said it was a recognition of innovation that solves social problems and a celebration of the great work done by Cellulant's teams over the last 15 years.
Cellulant's valuation has increased to Sh. 10.8 billion following a buyout deal in May last year, where a 44.04 percent stake was sold to a US-based social impact investment company for Sh. 4.8 billion.
