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Wapi Pay appoints Elizabeth Kariuki as interim CEO . Investigates Ndichu brothers’ case

Elizabeth Kariuki takes over the position until the situation is well investigated and adequate actions are taken to clear the air.

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Wapi Pay
Paul Ndichu and Eddie Ndichu, the co-founders of Wapi Pay

Following the allegations against Paul Ndichu and Eddie Ndichu, the co-founders of Wapi Pay, who were reportedly captured on camera assaulting two women at a Nairobi Hotel; Ole Sereni, the Board of Directors of Wapi Pay has announced the appointment of Elizabeth Kariuki as the interim CEO of the Kenyan fintech startup.

The video, which has gone viral, was shared by a Kenyan photojournalist, politician and activist, Boniface Mwangi on his Twitter handle.

In response to the allegations, Wapi Pay released a press statement admitting the distasteful and troubling nature of the situation. It was further noted that the video and allegations do not depict the true events that transpired that night. “To be clear, Paul and Eddie got involved in an attempt to neutralise a confrontation between two women and to defend themselves from certain aggressors.”

As a result of the event, Kepple Africa Ventures, a Japanese VC Firm and one of Wapi Pay’s investors who took part in the startup’s recent $2,200,000 pre-seed funding, posted a tweet, stating its intention to cut off ties from the startup.

Takahiro Kamisaki, General Partner, Kepple Africa Ventures wrote: 

In light of the alleged assault on women by the founders of our portfolio company Wapi Pay, we Kepple Africa Ventures hereby announce that we have zero tolerance on such conduct and announce that we will relinquish all the rights of our investment stake in Wapi Pay.”

This led to the appointment of Elizabeth Kariuki as the interim CEO, while the Ndichu brothers stepped down till investigations are accurately concluded.

The Board of Directors of Wapi Pay would like to announce that the Company co-founders, Eddie Ndichu, who is the chief executive officer, and Paul Ndichu, the current executive director, will step aside with immediate effect to allow investigations to take their course.”

The Board commits to conclude on this matter within 30 working days. Elizabeth Kariuki, the current chief operating officer, will take up the Chief Executive Officer role on an interim basis.”

As indicated earlier, Wapi Pay is built on and practices a culture of respect for all its stakeholders, employees, and customers and does not tolerate any form of discrimination, including but not limited to any form of gender-based violence. Wapi Pay remains focused on delivering financial innovation to the mass market.”

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​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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