In a dramatic turn of events, Alan Knott-Craig Jnr has stepped down as CEO of Mxit.
“While the shareholders and I share the same vision, we differ on how to get there. Therefore, I agreed to go my own way. I wish them all the best for the future. Mxit is Africa’s biggest tech success story, and can be a global success story,” said Knott-Craig Jnr in a press release. “He would not be drawn further on the issue,” a spokesman said.
Mxit, which calls itself Africa’s largest mobile social network says its investors are investing R100-million.
Francois Swart, the current CFO, will act as the interim CEO. Mxit will be recruiting a new CEO and other new executives to drive the expansion.
“Staff were informed today. In a statement the shareholders said that Mxit was South Africa’s biggest tech success story in no small part due to Knott-Craig’s involvement and vision over the past year,” the statement read.
“Mxit has a window of opportunity and is pursuing aggressive growth by increasing the user base in Africa through partners in targeted African countries.”