Knott-Craig Jnr’s Surprise Departure from Mxit

Mxit

Last week it was announced by Mxit that CEO Alan Knott-Craig Jnr had stepped down and would be departing from the technology company which has had bought through his investment company, World of Avatar (WoA), a year before.

In a statement issued by Knott-Craig Jnr he said, “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.”

Many people were shocked by the announcement as it has always been believed that Knott-Craig Jnr was emotionally invested in Mxit, and truly believed in its potential. All that’s left for everyone to do now is to speculate as he added in his statement that he would not discuss the issue any further, suggesting to some that he is under a confidentiality clause.

Speculations are certainly running wild. While it can’t be denied that Knott-Craig Jnr did good things for the company – he was strongly focused on building a powerful team to make it a world class platform – the company’s failure to attract advertising revenue and failure to boost its subscriber base may not have been enough for investors.

Mxit is looking at apparent stagnation, and right now it’s that stagnation and a bottom line that may not have satisfied investors who would have decided to look for someone else who could change that.

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