Fintech Group Tainted By Allegations Of Mismanagement, Corruption, Nepotism & Financial Malpractice

An anonymous source has come forward to raise allegations of prejudice and mistreatment against one of the pioneer IT companies in Africa, the Fintech Group.

The company, based in Nairobi but headquartered in Mauritius, is accused of encouraging nepotism and driving away brilliant workers during the ten years that Mr Tony Mbugua has served as the management head.

According to the source who contacted us via email, the company has been deducting pension money from employees for years without remitting it to the ICEA Lion Group insurance company.

The same applies to the Kenya Revenue Authority’s PAYE deductions, the National Social Security Fund, and sometimes the National Hospital Insurance Fund.

The ex-employees have been following up with the company to no avail.

It is shocking that a company that is paid millions of dollars across the region has not been remitting its employees’ statutory deductions.

This practice not only puts the employees at risk but also exposes the company to legal action by regulatory authorities.

The source further discloses that in order to prevent harassment, the finance department used to pay KRA officials on a monthly basis, which is a blatant example of the business’ unethical actions.

Fintech Group

In light of these claims, we hope that relevant authorities will move in and conduct an investigation into the Fintech Group’s operations and ensure that the company meets its obligations to its employees and regulatory authorities.

The company’s executives must accept responsibility and address the allegations levelled against them. It is unethical for a company to mistreat its employees while reaping enormous profits.

We urge the affected employees to seek legal redress and ensure that they receive their dues.

The Retirement Benefits Authority of Kenya (RBA) has established mechanisms to address such complaints, and we encourage affected employees to use them.

Mistreating employees is not only illegal but also immoral. They should be treated with dignity and respect.

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