Alternative Circle, the company behind the Shika mobile loan app, has announced the resignantion of one of the co-founders, Anthony Kariuki, following allegations of sexual misconduct in the workplace. The board announced that Kariuki will no longer represent Alternative Circle in any capacity.
The company’s CEO Kevin Mutiso has stated that Alternative Circle is committed to maintaining a work environment free from all forms of coercion and harassment that impede the professional process. This commitment includes the prevention and severe punishment of sexual harassment, where it occurs.
(TOP: Antony Magayu Kariuki, the Alternative Circle co-founder who’s left the fintech firm over sexual misconduct).
“Our policy on sexual harassment is clear and explicit; sexual harassment in any form is unacceptable, and it will not be tolerated, no matter the rank or status of any employee”, said Mutiso.
“There will be no further comment on the matter so as to protect the identity of the victim who has chosen to remain anonymous. Alternative Circle will give the victim all the support they need during this period including counseling, to enable the victim pursue their job to the best of their ability.”
Alternative Circle was founded in 2016 by Kevin Mutiso and Antony Magayu Kariuki with a vision of providing financial access through technology to over 200 million users globally. Alternative Circle closed a seed round of US $1.1 million from CreditInfo in 2017 and this enabled the expansion of the company. The strategic partnership with CreditInfo gave Alternative Circle access to over 200 developers and 25 data scientists, making it easier for Alternative Circle to become the leading Financial Technology Innovator in the country.
Alternative Circle’s first product, Shika, is a Kenyan mobile app made for individuals who want to access quick loans. The app is also built for financial institutions that can use the platform to reach potential borrowers.
Antony Kariuki becomes the second high-level to be hounded out of the country’s tech firms due to allegations of sexual harassment and misconduct. In late July, David Were, then Ushahidi CEO, had to leave the crisis mapping firm over a similar case.