Recent reports from TechCrunch reveal that Kuda Technologies, one of Africa’s fastest-growing digital banks, is under scrutiny following allegations of workplace discrimination, harassment, and wrongful dismissal. The controversy centers on a complaint filed by former Group Chief People Officer, Rosemary Hewat, who claims that during her nearly three-year tenure at Kuda, she experienced persistent mistreatment that ultimately forced her departure in April 2024.
According to the legal documents reviewed by TechCrunch, Hewat has accused the company and its CEO, Babatunde Ogundeyi, of sex discrimination, victimization, and unfair dismissal. Hewat, who managed global HR operations from Kuda’s UK office, alleges that her role was deliberately undermined by senior leaders, contributing to a hostile work environment. In one instance, during a company retreat in Lagos in December 2023, she claims that Ogundeyi publicly berated two female employees, using demeaning language that left them in tears. This incident, according to Hewat, was part of a broader pattern of misogyny and intimidation at Kuda.
The complaint further alleges that critical strategy discussions were conducted without her involvement, despite her team being responsible for resourcing decisions. Hewat recounts that when she raised concerns about being excluded, Ogundeyi dismissed her, even instructing her in a performance review to “spend the next six months getting Pavel to like you.” Such actions, she argues, not only obstructed her ability to perform her duties but also fostered an environment where her contributions were undervalued.
Another major issue in her filing revolves around an equity compensation dispute. Hewat claims that she was initially offered stock options at a favorable Series A valuation when she joined Kuda. However, after multiple requests, she received a grant based on a higher Series B valuation, effectively reducing the value of her equity. She also alleges that senior management, particularly CFO Steven Bastian, secured better terms for themselves, prompting further inequity and discrimination concerns.
The situation escalated in February 2024 when, while traveling to Lagos for an Executive Committee retreat, Hewat was abruptly terminated during a video call with Ogundeyi—despite explaining her personal circumstances. Following her dismissal, Kuda reportedly withheld her salary, health insurance, and full holiday pay, leading to significant financial hardship.
Kuda Technologies has thus far declined to comment on the matter, citing ongoing legal proceedings. With the full hearing scheduled for October, the case is expected to put the spotlight on Kuda’s workplace culture and leadership practices. This employment tribunal is not only a pivotal moment for the company’s internal policies but also serves as a cautionary tale for other rapidly growing tech firms in Africa.
As Kuda faces mounting scrutiny, the outcome of this case may well influence investor confidence and its ability to attract top talent. The broader fintech ecosystem in Nigeria and beyond will be watching closely as the company navigates this challenging period in its corporate journey.
