Pan-African Fintech Giant Cellulant Appoints Former Agoda Executive Darren Makarem as Chief Financial Officer

Cellulant appoints former Agoda and Binance executive Darren Makarem as CFO to drive pan-African growth and financial innovation.

By: AXL Media

Published: Mar 20, 2026, 4:12 AM EDT

Source: The information in this article was sourced from The Sun Malaysia

Strengthening Financial Leadership for Continental Scaling

Nairobi-based payments technology firm Cellulant has officially named Darren Makarem as its Chief Financial Officer, a strategic move designed to reinforce its executive backbone during a period of rapid pan-African growth. The appointment, announced on March 19, 2026, signals the company’s transition from a phase of strategic recalibration to one of aggressive market expansion. Makarem will be tasked with overseeing the company’s financial strategy and operational foundations as Cellulant continues to position itself as the primary payments partner for both regional enterprises and global brands operating within the African continent.

Leveraging a "Customer-Side" Perspective in Payments

One of the most notable aspects of Makarem’s appointment is his extensive background as a high-volume user of payment services. During his tenure as Global CFO at the online travel giant Agoda, he managed a payments network processing approximately $12 billion in annual transaction volumes. Cellulant CEO Peter O’Toole highlighted that this "customer-side" experience gives Makarem a unique understanding of the uptime reliability and multi-currency settlement needs that businesses require for growth. His objective is to build a "finance center of excellence" that mirrors the innovation and agility of Cellulant's core product offerings.

A Rare Blend of Institutional Rigor and Fintech Agility

Makarem brings more than two decades of experience in digital finance and operations to the role. An ACA-qualified professional who began his career at EY in England before earning an MBA from the Kellogg School of Management, his resume includes senior roles in complex regulatory environments. Notably, he served as the APAC and LATAM CFO at Binance and most recently as the CEO of OnRamp. This experience with digital assets and diverse settlement models is expected to be vital as Cellulant explores new frontiers in cross-border payments and alternative settlement rails.