In March 2022, Marie, an early-stage investor based in France and the Netherlands met Donald Diaba Ward on WhatsApp through an acquaintance named Happy Koffi Djebou.
The relationship with Donald Diaba was meant to be investment-related, as Donald was building a fintech startup called Sage Technology Inc. with a product known as eGator. What was supposed to be an investment deal became a loan repayment impasse.
Marie-Noelle claims, with evidence, that she gave Donald a sum of £3000 following a distressed call, in exchange for a 2% equity in his startup and a role as an advisor. Over two years after, efforts to ‘compel’ him to repay the loan have been abortive.
This article provides the backstory to the transaction.
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From investing to lending
Marie, in a conversation with Technext, claimed that she usually invests in African startups.
So, Happy Koffi Djebou, who she met in a tech community on Clubhouse during the COVID-19 period felt it was a great idea to introduce her to Donald Diaba Ward who was building Sage, a fintech startup that he started In September 2021.
In March 2022, Marie-Noelle met Donald via Google Meet where he pitched his startup to her as a potential investor. According to Marie, she made him an investment offer which he declined.
For Marie, this isn’t surprising as it comes with the terrain. But that did not end the relationship. “On the 26th of March, I reached out to him to ask if he wanted to be part of the community of entrepreneurs I was managing and he said yes.”
According to her, the community is an online platform for African founders to meet and learn the fundamentals of “how to build a tech startup” for free from global experts. And, Donald Diaba was committed to this community for over 6 weeks. “He was following the expertise of our experts’ pool, adapting his pitch, product and even changed his startup name to eGator Technology Limited and launched his new product.”
According to Marie, Donald regularly updated her on his progress and she provided guidance.
Then, in May, Marie missed Donald’s call twice. Then, he sent her messages on WhatsApp. Then, he called thrice again. Then, she called him back.
“When I finally called back, he told me he was currently in Dubai because a group of investors invited him to pitch and they were supposed to cover his hotel. To his surprise, they are now asking him to cover the costs and they will reimburse him in 2 weeks”, Marie explained.
Donald also claimed that the hotel staff was holding him and his business partner hostage until the bill was paid. “He begged me to help with a loan of 3000 euros in exchange for interest on the loan”.
According to him, the name of the hotel was St. Regis Dubai.
“The same day, I sent him 1800 euros. He called back to say that his business partner was released and had boarded a flight to go back to Ghana. But, he had to remain behind until the rest of the bill was paid. So I sent him the remaining 1200 euros. He told me that the hotel released him and he flew back to Ghana”, she added.
Donald and Marie-Noelle agreed on a loan of 3000 euros for a 2% equity in the startup and to bring Marie on board as an advisor. Donald sent her the invite to become an advisor and a link to pay the hotel directly.
But, there the conversation did not get further because the startup didn’t become a reality.
A period of uneasy silence
From the exchange between both parties, it was agreed that Donald was going to pay the total amount within 2 weeks because the money would come from his Dubai investors. After 2 weeks Marie claimed that she called, emailed and sent messages on Linkedin to Donald but received no response.
“I connected with our common contact and asked to track him”, she indicated.
On June 11 2022, Donald sent a message that he was in the hospital and would send an update soon.
“He disappeared again and I tracked him again through our mutual contact. On July 6, he promised that someone would pay him in cedis and he would pay me in euros or pounds. But nothing came of it”, Marie said.
July, August, September and October went by and Marie did not receive the promised refund. Then, in November 2022, he sent a WhatsApp message saying he was closing a $7000 deal and would pay back his loan.
“That promise came and went. Nothing. I tracked him again on his new number since he had changed it. Donald then shared a Whatsapp exchange between him and a potential investor on the 17th of December. That date came and went too.”
After 8 months, Marie decided to start the legal process in Ghana to get her funds. But, Donald Diaba Ward relocated to South Africa, according to an update on his LinkedIn profile.
To make matters worse, their mutual contact, Happy Koffi also dissociated from Donald.
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Donald’s side of the story
When Technext reached out to Donald Diaba Ward to listen to his side of the story in May 2024, he confirmed, quite politely, that he had taken a loan from Marie. He blamed unsuccessful investment deals and economic woes for his inability to repay. He also share pieces of evidence to indicate that he is struggling to make ends meet.
However, he assured that he would pay the loan by the end of June.
Marie requested an upfront payment as an indication of commitment from Donald’s. But, he assured her of full payment by the end of June. Subsequently, another mutual contact mediated guaranteed that Donald would repay the loan on the agreed date.
This reporter reached out to Donald on the first day of July to confirm if he has paid Marie. He said he was expecting a payment that same day or the day after to settle his debt with Marie. Two weeks after that conversation, Donald stopped responding to messages and calls.
His advocate, David hasn’t been able to ream him too.
We will update this article, if Donald eventually reponds or pay Marie as promised.
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