Kenyan AI Startup WayaWaya Denies Acquisition by Ajua, Revealing Years-Long Dispute

A persistent and unusual corporate dispute has emerged in Kenya, where AI startup WayaWaya, founded by Teddy Ogallo, has been publicly denying its alleged acquisition by customer experience company Ajua since 2021. Despite Ajua's public announcement and subsequent media reports, Ogallo maintains that no such acquisition ever took place, asserting that WayaWaya continues to operate independently, serving banks and telecommunications companies across Africa with its conversational AI products.

Ogallo claims his involvement with Ajua was limited to a consultancy agreement in 2021, where he joined as VP for Product APIs and Integrations and transferred a personal software platform, Janja, to Ajua. However, internal documents from Ajua, seen by TechCabal, framed the arrangement as an acquisition, leveraging the narrative to portray African startup ecosystem maturity and consolidation. This discrepancy led to widespread media coverage of the supposed deal, creating significant confusion for WayaWaya's clients, partners, and shareholders.

The controversy escalated to include the Competitions Authority of Kenya (CAK), which launched an inquiry into the alleged acquisition. Ajua's legal counsel responded by challenging the CAK's jurisdiction, arguing that both companies were incorporated in Delaware, USA, rather than addressing the substance of the transaction. Ogallo's repeated efforts to correct media reports and clarify WayaWaya's independent status have largely been unsuccessful, with the acquisition narrative persisting in online records.

The dispute highlights the complexities of corporate transparency and the recording of business histories, particularly in Africa's rapidly evolving tech landscape where acquisitions are seen as indicators of market growth and investor confidence. The article notes that Ajua announced a $1.5 million seed extension shortly after the acquisition claims, with the WayaWaya narrative becoming part of its public story. Five years on, the situation remains unresolved, with Ajua's founder vaguely stating that a "transaction was cancelled" in 2023 without further elaboration.