Janet Mbugua’s Husband Resigns From Fintechs Board

Janet Mbugua’s Husband Resigns From Fintechs Board

Eddie Ndichu has stepped down from his role as a board member of the Association of Fintechs in Kenya.

This is after a video of him and his brother Paul Ndichu was shared online, showing the two allegedly assaulting two women at a Nairobi Hotel.

In a statement issued on Tuesday, October 9, 2021, the Association of Fintechs in Kenya stated that it had considered the allegations made against the Ndichu brothers, noting that the matter had become a subject of public discourse.

“The Board of the Association of Fintechs in Kenya (hereinafter the Board”) takes note of the unfortunate allegations made against our board member Eddie Ndichu following an altercation at a city hotel on Saturday the 17th of October 2021. The allegations are now subject to public discourse, particularly on social media platforms.

File image of the Ndichu brothers, Paul and Eddie. |Photo| Courtesy|
File image of the Ndichu brothers, Paul and Eddie. |Photo| Courtesy|

“On the 19th of October, the Board convened a special meeting during which Mr Ndichu stepped down as a board member pending formal investigations into the matter,” the statement read in part.

“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,” the Fintechs association noted.

The Association further stated that it remains firmly committed to its objective of ensuring utmost integrity and advocating for the wellbeing of the fintech community and the technology industry at large.

This comes barely 12 hours after Ryosuke Kamawaki, co-founder of Kepple Africa Ventures announced that his company will be withdrawing its investment in Wapi Pay, a startup owned by the Ndichu brothers.

In a statement, Kamawaki revealed that the withdrawal was in line with the company’s policy of zero tolerance on violent conduct.

“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,” Kamawaki stated.

Eddie and his brother Paul, are set to lose $2.2 million (Approximately Ksh244.2 million) following the decision by Kepple Africa Ventures.

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