A former executive of Kuda Technologies Limited has filed a lawsuit in the United Kingdom, alleging gender discrimination, a toxic work culture, and wrongful termination.
Rosemary Hewat, who previously served as the fintech company’s Group Chief People Officer, claims in court documents that Kuda and its CEO, Babatunde Ogundeyi, fostered a workplace environment that marginalized female employees and penalized her for raising concerns.
Hewat’s lawsuit, filed with an employment tribunal, details allegations of gender bias, including being denied stock options under terms granted to her male counterparts. She asserts that she was dismissed in retaliation for challenging discriminatory practices within the company.
The lawsuit contrasts sharply with Kuda’s public stance on gender inclusivity. The company, backed by Target Global, has promoted initiatives to recruit and retain female talent. Hewat, who joined in 2021, played a key role in these efforts, announcing in March 2023 that Kuda had achieved gender parity among employees. However, her legal claim describes a work culture where women were belittled and sidelined.
Among the accusations, Hewat alleges that Ogundeyi made disparaging remarks about female employees and publicly humiliated two female colleagues at a December 2023 strategy retreat. She further claims he encouraged a culture of fear, with employees reportedly seeing him as unapproachable and overly authoritative.
Kuda, which maintains a registered entity in the UK, confirmed the lawsuit but declined to comment. A spokesperson stated, “In line with our current policy and out of respect for privacy, we do not comment on matters of this nature involving current or former employees.” Hewat has also declined to provide further statements beyond her court filings.
A central issue in the lawsuit is Hewat’s stock options. She alleges that Kuda failed to honor an agreement granting her shares at the Series A valuation, instead offering them at the higher Series B price. Meanwhile, a male executive, Steven Bastian, reportedly received shares at the Series A valuation. Ogundeyi is said to have justified the discrepancy by stating that Bastian’s role as Group CFO was “more important” than Hewat’s.
Hewat claims she was gradually excluded from key company decisions. She was not invited to a strategic meeting in January 2023 and saw her responsibilities increasingly taken over by the Group Chief Operating Officer, Pavel Khristolubov, who allegedly harassed and undermined her. When she raised concerns, Ogundeyi reportedly advised her to focus on “getting Khristolubov to like her.”
Her dismissal came shortly after she filed a formal grievance about the stock options issue in December 2023. On February 20, 2024, while en route to an executive retreat in Nigeria, she was terminated. Hewat alleges that Kuda attempted to present her dismissal as redundancy without following proper selection criteria. Despite this, her position remained within the company, with other employees expected to assume her responsibilities.
Adding to the controversy, Kuda’s Chief Technical Officer, Mutairu Mustapha, allegedly told Hewat that her termination had been a “mistake” and encouraged her to return to work. Meanwhile, Ogundeyi reportedly cited cost-cutting measures due to the naira’s devaluation as a reason for her dismissal. Hewat disputes this, pointing to continued discretionary spending within the company, including expenses for a nanny employed for Ogundeyi’s children.
Hewat claims the events took a toll on her mental and physical health, causing depression, panic attacks, and insomnia. She is seeking financial compensation for lost benefits, emotional distress, and punitive damages, though the exact amount remains unspecified in court documents.
Kuda has not issued a public response to the lawsuit, and the case is pending before the employment tribunal.
