Shareholders force Stafford Masie off Africa Bitcoin board

Africa Bitcoin Corporation (ABC) has ousted its interim CEO Stafford Masie and three other directors from the board, with Masie also relinquishing his position as CEO at the end of February. This decision came after WGW Capital and other shareholders demanded the removal of all four directors, linked to former CEO Warren Wheatley and other shareholders holding about 71.8% of ABC’s ordinary shares.

Wheatley resigned in September 2026 following regulatory sanctions, including a R5 million fine and a 20-year ban from the financial services industry over share transactions he maintains involved only 50 shares worth R301. The four directors stated they resigned due to emerging material differences between the board and WGW. Masie became interim CEO in August following Wheatley's suspension.

ABC emphasized that the resignations were difficult for Masie, who built the company from the ground up. The remaining two directors, Robin Coode and financial director Jonathan Phillips, are now tasked with restoring the appropriate board and committee composition in compliance with statutory, regulatory, and listing requirements.

ABC remains committed to maintaining operational continuity, governance oversight, and the interests of all stakeholders.