According to a report by Techcrunch, Prince Boakye Boampong, the founder and CEO of Dash, has allegedly been temporarily suspended pending an investigation into financial impropriety.
Prince, who founded the fintech in 2019 which provides an alternative payment network with connected wallets allowing interaction between mobile money and bank accounts in Africa, will be replaced by Kenneth Kinyua, the former CEO of Kopo Kopo.
Dash made headlines last year when they announced a landmark deal when they raised $32 million in a seed round.
According to Techcrunch sources, Boampong was allegedly suspended as chief executive for engaging in financial misreporting. A spokesperson on the Dash board said it placed the CEO on “indefinite administrative leave on January 24, 2023, pending a forensic financial audit of the company.”
The audit results might be out within a month, sources say.
Techcrunch sources say the company’s internal operations allege that executives repeatedly concealed financials within the firm and described a disorganized workplace where employees resigned and were laid off at will.
Source: Techcrunch
