Edward Ndichu has stepped down from his position as a board member of the Association of Fintechs in Kenya (AFIK), the association has announced.
In a public statement released on Tuesday, October 19, AFIK said the board held a meeting on Monday where Eddie stepped down after allegations levelled against him went viral in the public discourse.
“The Board of the Associations of Fintechs in Kenya (hereinafter “the Board”) takes note of the unfortunate allegations made against our member Eddie Ndichu following an altercation at a city hotel on Saturday the 17 of October 2021. The allegations are now subject to public discourse, particularly on social media platforms,” AFIK said in the statement.
The Board of AFIK said it regrets the current circumstances adding that it does not in any way condone gender-based violence or violence of any kind.
“The Association remains firmly committed to its objective of ensuring utmost integrity and advocating for the wellbeing of the finch community and technology industry at large,” AFIK further stated.
Eddie and his brother Paul Ndichu also suffered a major blow on Monday after one of the investors in their company, Wapi Pay, withdrew their funding.
The investors Kepple Africa Venture revealed that they withdrew their funding from the tech firm after its co-founders, the Ndichu brothers, were accused of assaulting women.
According to one of the victims who spoke on social media, in a viral video, the two brothers allegedly assaulted her sister at Ole Sereni Hotel, Nairobi, after they (the women) allegedly declined sexual advances.
In the video that has since gone viral on social media, one of the brothers is seen breaking a side mirror of a vehicle parked outside the hotel before going back to the hotel to join his brother in ‘assaulting a woman.
Following the alleged incident, the Chinese investor revealed that they will cut ties with the company owned by the two brothers.
“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,“ the Chinese investor said in a tweet.