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The Board of Directors of Wapi Pay, have announced that the company's co-founders, Paul Ndichu who is the Chief Executive Officer and Eddie Ndichu who is an Executive Director will step aside with immediate effect to allow investigations to take place.
Wapi Pay had announced it had raised $2.2 million in pre-seed funding to scale up global payments and remittances between Africa and Asia.
The Board affirmed its commitment to conclude the investigations within the next 30 working days.
Beyond building bridges, rail lines, airports and roads across the continent, Chinese companies are increasingly building digital infrastructures in Africa.
Wapi Pay, a Kenyan digital payments start-up, has set sights on a share of more than Sh600 billion trade between Kenya and Asian countries such as China and India.