Kepple Africa Ventures; one of the top investors in Kenya’s start-up financial technology firm Wapi Pay, has announced that it will withdraw its funding from the firm, after its co-founders; Paul Ndichu and Eddie Ndichu were accused of assaulting two women at a Nairobi hotel.
In a statement posted on its official website, Kepple condemned the incident, adding that it does not tolerate any form of violence against women.
“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 that we will relinquish all the rights of our investment stake in Wapi Pay,” Kepple said in its statement.
The move is a massive blow for Wapi Pay as Kepple is reported to have been a major contributor of the Ksh200 million seed funding, that the firm recently raised in a bid to expand its operations.
Meanwhile, the Ndichu brothers through Wapi Pay, have issued a statement addressing allegations that they assaulted two ladies at a Nairobi Hotel on October 17, 2021.
In the statement, the company argued that the story of the incident as reported is distasteful and troubling.
File image of Wapi pay co-founders; Paul Ndichu and Eddie Ndichu. [Photo: Courtesy]
"Our understanding is that the allegations and video currently being shared on social media, albeit horrific and regrettable, do not depict the true events that transpired that night.
"To be clear, Paul and Eddie got involved in an attempt to neutralize a confrontation between two women and to defend themselves from certain aggressors," the statement read in part.
They revealed that the matter has been reported to the police and Directorate of Criminal Investigations (DCI) for further investigation and resolution.
News of the alleged assault was first shared online on Monday, October 18th, 2021 by activist Boniface Mwangi who shared a video on his Twitter page.
“Yesterday my sister and I were attacked by the Ndichu twins for respectfully turning them down. They threatened to shoot us and ruin our lives. My sister was strangled by Paul Ndichu while her boyfriend who had come to her rescue was being strangled by Eddie.”-Via DM,” shared Mwangi who had received it from his Direct messages.
Following the incident, media personality Janet Mbugua, Eddie's wife, said she condemns all forms of Gender-Based Violence (GBV) and that she will continue to speak against it.
“I am saddened by increasing incidents of Gender-Based Violence. Over the last decade, I have joined my voice to efforts to #EndGBV. I condemn all forms of GBV irrespective of who is involved and will continue to speak out against it. We have laws in Kenya and justice must prevail,” she said.