Kuda Technologies, one of Africa’s fastest-growing digital banks, is under scrutiny following allegations of workplace discrimination, harassment, and wrongful dismissal brought by its former Group Chief People Officer (CPO), Rosemary Hewat.
The case, filed with the UK Employment Tribunal, accuses Kuda and its CEO, Babatunde Ogundeyi, of sex discrimination, victimization, and unfair dismissal.
Hewat, who served as CPO for nearly three years, claims she was forced out of the company in April 2024 after enduring prolonged mistreatment.
Kuda in an email response to Naijaonpoint confirms the case but declines to comment further because it is a legal matter.
“It is accurate that Rosemary Hewat, a former employee of Kuda Technologies Limited UK, has made an employment tribunal claim against the company.
“As this is currently a legal matter, we’re unable to provide any additional information at this time.
“In line with our current policy and out of respect for privacy, we do not comment on matters of this nature involving current or former employees,” the company stated.
Hewat, hired in August 2021 to oversee global HR operations from Kuda’s U.K. office, alleges that she experienced and witnessed discriminatory behavior that contradicted the company’s Diversity, Equity, and Inclusion (DEI) policy.
Additionally, Hewat claims she was excluded from critical strategy discussions, with then-COO Pavel Khristolubov bypassing her authority and working directly with her team members. When she raised concerns, Ogundeyi reportedly dismissed her complaints, further exacerbating the toxic work environment.
A central issue in Hewat’s complaint revolves around her employee stock options (ESOP). She claims that upon joining Kuda, she was offered several hundred thousand dollars worth of ESOP shares at the company’s Series A valuation. However, she never received formal documentation despite multiple requests.
When Kuda finally issued the ESOP grant in April 2022, it was based on the Series B valuation, which increased the stock price and reduced her equity value.
Hewat alleges that then-CFO Steven Bastian successfully negotiated to revert his shares to the Series A price, but her similar request was dismissed by Ogundeyi, who reportedly stated that Bastian’s role was “more important” than hers.
This case places Kuda, which has raised significant venture funding—including a $55 million Series B round in 2021—under intense scrutiny.
It comes at a time when African tech companies are facing increasing pressure to improve governance and corporate accountability, following similar allegations at other high-profile startups like Flutterwave in 2022.