Wapi Pay Board of Directors on Tuesday announced that the company’s founders; Eddie and Paul Ndichu will be stepping down from their roles with immediate effect to allow for investigations into assault allegations.
The two were caught on camera allegedly assaulting a woman at Emara Ole Sereni on Sunday night.
Eddie Ndichu has been the CEO of Wapi Pay, while his twin brother Paul Ndichu was the Executive Director. Elizabeth Kariuki who is the Chief Operating Officer will now take over as interim CEO.
‘’The Board takes this opportunity to state that it regrets the current circumstances and does not in any way condone gender-based violence or violence of any kind’’ read the statement.
“The Board commits to conclude this matter within the next 30 working days,” it further read.
The announcement came just a few hours after Eddie stepped down as a board member of the Association of Fintechs in Kenya following the scuffle. Japanese VC firm Kepple Africa Ventures had earlier on Tuesday also announced that it will be revoking its investment in Kenyan fintech startup Wapi Pay.
‘’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.’’ General Partner Satoshi Shinad said in a tweet.