Kenya’s cloud data storage firm Angani Limited has been rocked by a court battle after its shareholders from Britain and US seek to take control from Kenyan locals currently managing the firm.
Locals Phares Kariuki, Brian Muita and Aaron Mbowa have been sued by BSP Fund, British national Ripduman Sohan, American Miguel Granier, Kenyan-based Erik Hersman and Riyaz Bachani who seek to control the firm.
The firm’s foreign shareholders have accused the locals of arbitrarily refusing to relinquish control of the firm besides appointing Mbowa “accidentally” to the Board of Directors, reports Business Daily.
“Mr. Mbowa is an accidental director in that he was accidentally appointed to Angani’s Board and had agreed with his fellow directors that he would rectify the error and resign from the Board; to date, he has failed to do so. The defendants jeopardized Angani’s operations, resulting in inability to service its clients thereby exposing it to potential liabilities,” states BSP.
But Kariuki, Muita and Mbowa who are IT Experts have denied ever being removed from the Board of Directors.
They insist that the foreign shareholders are attempting to oust them in a coup.
BSP is the largest shareholder of Angani Limited with 2,619 shares.
Muita, Kariuki, Sohan and Bachani each have 2,000 shares while other shareholders; Mr Africa’s Talking (476 shares), Savannah Fund (238 shares), Emmanuel Kala (200 shares), Africa Angels Network (191 shares), Ms Okolloh (110 shares), Samuel Gikandi (100 shares), Eston Kimani (100 shares) and Pule Taukabong (40 shares).
BSP now alleges that despite exiting the company in 2015, the three locals steering the company have hoarded password to the cloud data storage firm’s technical platform which has put operations in jeopardy.
On the other hand, The American hedge fund alleges that the trio runs a competing firm, Node Africa Limited.
In response, the three have refuted the claims insisting they have not in any way sabotaged Angani and that it remains the intellectual property of Muita.
They have in turn accused Bachani of hiring hackers to interfere with the technical platform, after BSP and the other plaintiffs failed to pay Muita for it.