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Corporate Governance Storm Hits M-KOPA As Co-Founder Accuses Board of Share Price Manipulation
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Corporate Governance Storm Hits M-KOPA As Co-Founder Accuses Board of Share Price Manipulation
The reputation of M-KOPA, the celebrated fintech pioneer of Africa’s pay-as-you-go sector, is facing an unprecedented governance crisis. This comes as co-founder Chad Larson filed a formal complaint with the Capital Markets Authority (CMA), accusing the company’s board, key investor Sumitomo Corporation, and advisory firm Eden Global Partners of orchestrating a share buyback that “unfairly and deliberately exploits Kenyan employees.” In a letter…
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