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Dash CEO placed on ‘indefinite administrative leave’ as the Insight-backed startup carries out financial audit

Dash CEO placed on ‘indefinite administrative leave’ as the Insight-backed startup carries out financial audit

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Prince Boakye Boampong, the founder and CEO of Dash, which provides an alternative payment network with connected wallets allowing interaction between mobile money and bank accounts in Africa, has allegedly been temporarily suspended pending an investigation into financial impropriety, according to people with direct knowledge of the situation.

The founder and CEO of Dash, a Ghanaian fintech startup that provides an alternative payment network for mobile money and bank accounts in Africa, has been temporarily suspended pending an investigation into financial impropriety. Dash had raised $32.8m in equity last March from Insight Partners, Global Founders Capital, 4DX Ventures and ASK Capital, among others, and valued the company at slightly over $200m. Dash's board has placed Prince Boakye Boampong on "indefinite administrative leave pending a forensic financial audit of the company". For the time being, the board replaced Boampong with Kenneth Kinyua, the former CEO of Kopo Kopo.


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