Kenya’s WayaWaya rejects Ajua’s acquisition claim

Many founders spend years trying to convince investors that their companies are worth acquiring. For Teddy Ogallo, the founder of WayaWay, a Kenyan artificial intelligence (AI)startup, the past five years have been spent trying to convince people that he never sold his company. 

Inside a folder on his laptop are consultancy agreements, shareholder records, emails, legal correspondence, regulatory letters, and screenshots of old news articles and texts. According to Ogallo, these records document years of efforts to challenge reports that his company had been acquired in 2021.  

However, public records and online reports continue to reflect a different narrative. Since April 2021, Ogallo says he has had to navigate two competing versions of WayaWaya’s history.  In one, supported by company records and seen by TechCabal, the startup remains an independent business serving banks and telecommunications companies across Africa.

In another version reflected by search results, startup databases, and media reports, WayaWaya was acquired by Ajua, a customer experience startup, on April 28, 2021, following the latter’s announcement that it had acquired the company to strengthen its consumer intelligence platform.

This contradiction has persisted for years. According to Ogallo, it has left the company’s founder and board repeatedly addressing questions generated by those reports.

“The reports created questions from clients, partners and stakeholders regarding WayaWaya’s status and continuity,” Ogallo told TechCabal on June 4 in an emailed response. 

“We had to provide additional explanations and documentation during partnership and due diligence discussions to clarify that WayaWaya continued operating independently.”

The dispute extends beyond the question of whether…