Eric Asuma has been CEO of Hisa since its creation in 2020. He has now stepped down from the company’s daily operations to focus on a new venture.

Eric Asuma, one of the co-founders of investment startup Hisa Inc. has stepped down as CEO. Asuma will focus on a new venture in partnership with the online financial news publisher, the Kenyan Wall Street, which he co-founded. Having played a key role in Hisa’s establishment and growth, Asuma believes that a shift in leadership is vital to the ongoing prosperity of the company and upholding a positive and collaborative work atmosphere. 

“After much contemplation and reflection, I recently decided to step down from my role as CEO of Hisa Inc, effective immediately. While I have been actively involved in building and leading the company since its inception, I strongly believe that a change in leadership is necessary to ensure its continued success,” Asuma told TechCabal in a statement. 

Hisa aims to make the African retail investment sector accessible to everyone. The company went live towards the end of 2022 after ten months in beta before obtaining regulatory clearance from the Capital Markets Authority of Kenya (CMA) and the Nairobi Securities Exchange (NSE). A spot check by TechCabal shows that Asuma remains the primary shareholder of Hisa Technologies, which was given regulatory approvals in partnership with Faida Investment Bank. While stepping back from daily operations, Asuma says he will remain available to assist the company and focus on strategic guidance and support. 

“I will continue to support the company whenever required, but I have taken a back seat from the day-to-day operations,” said Asuma. For now, he will remain involved with the Kenyan Wall Street until the new venture with the publication is revealed. 

“Drawing insights from my experiences at Kenyan Wall Street, I have been assembling a formidable team in the last few months to establish a new venture with the ambition to become the foremost distributor of financial data and a premier news source for Africa’s financial services community.”

New CEO 

Asuma has appointed Eric Jackson as his successor in Hisa. “To ensure a smooth transition and effective management, we have appointed Eric Jackson as the new CEO of Hisa Inc. Eric possesses the necessary capabilities and experience to lead the company towards even greater achievements,” Asuma said in a statement. 

Since its launch, Hisa has raised around $200,000 in funding. It raised an undisclosed amount in seed funding from Startup Wise Guys and Startup Wise Guys SaaS Milan. At its peak, its valuation stood at around $5 million.