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Prince Boakye Boampong

Founder & CEO at Dash (Techstars NYC 2021)

Prince Boakye Boampong is the founder and former CEO of Dash, a Ghanaian fintech company that aimed to provide cross-border payment solutions for mobile money users and bank accounts across Africa.12 He founded Dash in 2019 and is known as a serial entrepreneur in Africa, having previously co-founded OMG Digital, a YC-backed Ghanaian media startup.3

Boampong's tenure at Dash was marked by significant fundraising success, with the company raising a total of $86.1 million over five years.2 However, his leadership came under scrutiny in early 2023 when suspicions arose about the accuracy of Dash's reported user numbers and growth figures.23

In February 2023, Boampong was suspended and later dismissed from his role as CEO following an internal audit that revealed exaggerated and misrepresented user and growth figures.23 He was replaced by Kenneth Kinyua as interim CEO.3

Following his departure, allegations emerged of financial impropriety. Boampong is accused of:

  1. Earning a salary of $50,000 per month2
  2. Allegedly diverting at least $8 million of the company's funds for personal use, including purchasing luxury properties and cars25
  3. Misrepresenting the company's financial and user growth data4

As of January 2024, Dash has ceased operations, with reports indicating significant financial discrepancies and unsustainable operating costs.5 It's important to note that Boampong has not publicly commented on these allegations as of the current date.2

Highlights

Nov 21 · pulse2.com
Dash Bio: Interview With Co-Founder & COO Ander Tallett About ...
Nov 12 · thecondia.com
Why is Ghanaian fintech, Dash CEO on indefinite administrative ...
Mar 4 · theorg.com
Prince Boakye Boampong - Founder at Dash - The Org
Prince Boakye Boampong - Founder at Dash - The Org
Jan 27 · ghanaweb.com
Ghanaian fintech founder allegedly diverted $8 million prior to ...
Oct 8 · 3news.com
Ghanaian fintech Dash closes down after raising total of $86.1 million
Feb 16 · techcrunch.com
Dash CEO placed on 'indefinite administrative leave' as the Insight ...
Dash CEO placed on 'indefinite administrative leave' as the Insight ...

Related Questions

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Prince Boakye Boampong
Prince Boakye Boampong, photo 1
Prince Boakye Boampong, photo 2
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Location

New York, New York, United States