Dispute between founders and board leaves Capiter in arrears to employees and creditors

Last month, Egyptian B2B e-commerce platform Capiter made headlines after founders Mahmoud Nouh and Ahmed Nouh were ousted by its board as CEO and COO. The reasons were unclear, as both parties didn’t publicly comment on the situation; however, from various local news outlets, they ranged from mismanagement of funds to failure to report to the board and work out a potential merger, as well as internal disagreements over management methods.
In a statement issued to TechCrunch last month, Capiter’s board said claims of theft of the company’s assets by the founders are untrue and it didn’t move t

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