The CEO of Bento Africa, a Nigerian platform specializing in payroll and human resource management, has resigned following accusations of failing to handle tax and pension payments for clients. The CEO, in an email to the company’s board, announced his departure, also surrendering his ownership in the company. This decision paves the way for a potential fresh start for both the CEO and Bento Africa.
In his resignation email, the CEO hinted at a new venture called Ada AI, an AI-powered sales assistant.
The CEO cited the challenges of expanding HR and payroll systems in Africa as a reason for his decision. He mentioned the disparity in taxation and remittance practices between Africa and the Western world, stating that until a similar system is adopted in Africa, scaling such companies would remain difficult.
The resignation arrives during a tumultuous period for Bento Africa, facing allegations of financial mismanagement, particularly related to tax and pension contributions. These claims were brought to light by a co-founder of an edtech company and a digital inventory management firm.
The CEO’s resignation marks the end of a controversial leadership journey that included a previous resignation and return as CEO. The CEO had stepped down in 2022 amid allegations of creating a toxic work environment but returned later that year after the resignation of the appointed successor.
Prior to his resignation, the CEO had informed the board of his intent to step down in six weeks, urging them to begin the search for a replacement. However, there were reports that some investors were unaware of his resignation, highlighting a lack of operational transparency within the company.
Despite claims of success and profitability, some investors remain skeptical about Bento Africa’s future. The company, founded in 2019, provides services like salary automation, statutory remittances, and access to loans for clients.