International Finance Corporation (IFC)-backed Africa’s Talking co-founder, Bilha Ndirangu has dragged the payments API products company to court over her removal as director.
Ndirangu, who’s a former director of the company is aggrieved and suing the company she co-founded for what she described as unlawful termination of her appointment.
The agitated co-founder revealed that her appointment was terminated seven months after she accused senior officials of the company of misconduct.
While noting in court documents that the law didn’t require her to contest her removal, Ndirangu argued that she was fired despite a court order restraining Africa’s Talking from removing her as a director.
Aside from Ndirangu, three others, including Eston Maina, another co-founder and former CEO of Africa’s Talking, are also listed as petitioners. Africa’s Talking, Samuel Gikandi, and the shareholders’ trust are listed as defendants in a petition filed in a Nairobi High Court.
Backstory
Fintech Telex understands that Gikandi led other shareholders, including a trust that holds unvested shares for employees, to vote against Ndirangu as director in June 2023, ultimately removing her from the position.
It was gathered that Ndirangu’s removal came after the sacked director, who owns a 6.33% stake in Africa’s Talking, called for an independent investigation into misconduct claims at the company.
“The unlawful removal of the 1st Applicant (Bilha Ndirangu) as a director and its intended ratification has caused undue prejudice to the Applicants (Africa’s Talking, the CEO and other shareholders), and urgent intervention by this Honourable Court is necessary to prevent irreparable harm,” one court filing read.
Why Ndirangu is contesting her removal as Africa’s Talking director
To remove Ndirangu, the company’s board required a majority vote from the shareholders. According to court records, a trust (AT Group ESOP Trust) holding unvested employee shares had to participate in the vote to meet this requirement.
Ndirangu, however, argued the legality of the trust’s vote, citing its inactive status and lack of authority to oust her.
Ndirangu and her associates collectively hold 20.83% of Africa’s Talking, while Gikandi and his team own a 25.25% stake in the company.
About Bilha Ndirangu
Bilha Ndirangu is a trailblazer in sustainable development and youth empowerment across Africa.
As a co-founder of Jacob’s Ladder Africa, she champions climate action, technology, and education to foster self-reliance among African youth. Notably, she holds the distinction of being the first Kenyan woman to be appointed Chief Executive Officer (CEO) of the African Leadership Academy (ALA).
Through her roles at ALA and as CEO of Africa’s Talking, she has catalyzed the continent’s technology ecosystem, empowering youth and advancing climate action.
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During her tenure at Dalberg, Bilha provided strategic counsel to governments, corporations, and foundations, focusing on critical sectors like energy, agriculture, and education. Her efforts led to the establishment of Dalberg’s Nairobi office, further amplifying their impact across the continent.
Bilha’s accolades, including the Woman of Firsts – Excellence in Education Award, and recognition as an Endeavour Entrepreneur, underscore her dedication and impact in the field. Armed with a Bachelor of Science in Electrical Engineering from MIT and enriched by her studies at Harvard Business School, she continues to drive sustainable development and economic growth in Africa.
By Pamela Aghedo
