- Stay Online Limited (SOL) is a company a Rwandese investor-Desire Muhinyuza is seeking to regain control.
- Desire says Koome was chosen as SOLs agent in Kenya due to the immigration hassles that foreigners face in compliance with the Banking Acts in Kenya.
Image: DOUGLAS OKIDDY
A Kenyan businessman laying claim to a fintech company was on Wednesday unable to produce documentation proving he had entered into any contractual agreements with his alleged employees.
Koome Kirimi claims to be the sole owner of Stay Online Limited (SOL), a company a Rwandese investor-Desire Muhinyuza is seeking to regain control.
Desire claimed Koome was chosen as SOLs agent in Kenya due to the immigration hassles that foreigners face in compliance with the Banking Acts in Kenya.
He has since told the court that the failure by Koome to register him as the beneficial owner of the company was in bad faith because he knew that he did not have a regular immigration status at the time of registering SOL.
Desire said Koome holds the position of director/shareholder of SOL at his behest and not on his own accord.
While testifying in the case before Commercial Court Judge Alfred Mabeya, Koome said the company had two employees. He and the Chief Executive Officer identified as Raphael.
He said he appointed Raphael as the CEO of the company but was not able to produce any contractual relationship they had.
Asked by Advocate Danstan Omari who is on record for Desire whether he has paid his taxes or statutory deductions, the witness's only answer was “he earns a salary”.
Koome mentioned that the SOL office is located on Marula Lane Karen but was also unable to produce the lease agreement in court but said the same could be availed.
He maintained that he is the director and shareholder of the company further producing a CR12, which is an official confirmation by the registrar of companies in Kenya as to who the shareholders of a company are.
He said he had appointed his advocate by the name Harry Bob his lawyer to deal with the registration of the company.
A certificate of incorporation was allegedly issued on April 14. He said he declared himself as the beneficial owner of the company SOL.
The witness also mentioned that SOL does not have a website but changed its tune after being prodded by the defense team. He said at the beginning, SOL had a website by the name stayonline.tech
In the case, Desire wants the court to issue an order directing the Registrar of Companies to remove Koome as a signatory to the company’s bank accounts at the United Bank of Africa (UBA).
Also sought is a mandatory order directing Koome to refund the 100,000 dollars allegedly obtained and a permanent order retraining Koome from conducting any transaction on Stay Online limited bank accounts at UBA United Bank of Africa.
The parent company in Rwanda, Stay Online Limited Rwanda had a board of directors’ resolution on April 1, 2012, to expand its operations in Uganda, Kenya and Zambia.
It was agreed that each jurisdiction would open a local stay online limited entity and that it would appoint a local director in each jurisdiction.
Hearing continues.