Bento expands into Ghana, Rwanda & Kenya

Bento, a pan-African digital payroll and HR management platform, has set its sights on expanding its reach across the African continent, with recent strides in Ghana, Kenya, and Rwanda. The company is not stopping there and has plans to further expand into Egypt, South Africa, Uganda, Tanzania, Angola, and Ethiopia. In a recent interview with CNBC Africa, Ebun Okunbanjo, the CEO of Bento, shared insights into the company's aggressive expansion strategy and its impact on the African market. Okunbanjo emphasized that Bento's decision to move aggressively in 2021 is rooted in the belief that the infrastructure being built today will shape African economies for the next several decades. The company adopts a dual approach, viewing Africa as a single market while simultaneously recognizing the nuances of fragmented submarkets. By swiftly moving into new territories, Bento aims to position itself at the forefront of technological and regulatory developments that are poised to reshape the business landscape. Despite still being in the nascent stage in Nigeria, Okunbanjo expressed confidence in Bento's progress, particularly in capturing the market share of innovative and rapidly growing companies. He highlighted the appeal of Bento's technology to startups and forward-thinking businesses, signaling a promising trajectory for the company's future in Nigeria. Bento's disruptive impact on payroll, HR management, and employee benefits in Africa was a focal point of the interview. Okunbanjo underscored the significance of digitizing and streamlining operational expenses, noting that salaries and benefits account for a substantial portion of companies' costs. This rationale, he explained, makes the adoption of Bento's platform a compelling proposition for businesses of all sizes, including smaller enterprises that may initially underestimate the value of such technology. In the Nigerian market, which boasts a labor force of around 60 million individuals, Okunbanjo identified a shift towards digitization, particularly in the informal sector. He emphasized the inevitability of products like Bento becoming essential components of modern business operations, aligning with evolving financial, regulatory, and governance trends that are propelling the market towards greater reliance on digital solutions. As Bento continues to expand its footprint across Africa, the company's innovative approach to payroll and HR management is poised to revolutionize traditional business practices and empower organizations to make data-driven decisions for long-term success. By capitalizing on the continent's burgeoning digital transformation, Bento aims to solidify its position as a frontrunner in the rapidly evolving landscape of African business technology.