Conflict of interest at Endeavor Pakistan

Key selector and MD at Endeavor is also shareholder and director of Sadapay

KARACHI:

Endeavor Pakistan, a renowned global community of high-impact entrepreneurs operating in 42 markets, faces criticism after appointing Ali Samir Oosman as one of its key selectors to identify and support potential startups
in the country.

Oosman holds the position of managing director at Endeavor Pakistan while also being a shareholder and director of Sadapay, an electronic money institution (EMI) licensed by the State Bank of Pakistan (SBP).

The appointment has raised concerns among entrepreneurs about a glaring conflict of interest.

As a key selector for the Endeavor entrepreneurs’ programme, Oosman’s dual roles create a situation where he may have to pick and nurture potential competitors in the financial startup space while simultaneously benefiting from his involvement in Sadapay.

Entrepreneurs have expressed frustration over the lack of transparency and fair competition resulting from this conflict of interest. The fact that Oosman’s firm manages funds exceeding $500 million in capital and operates in 42 markets further amplifies the need for rigorous conflict checks and impartiality.

Speaking anonymously, an official from a potential startup explained, “Oosman and as a result Endeavor is totally conflicted and this is a major red flag for the programme. One reason we decided against completing the application to the programme was because Ali and his team would have access to key data (as required to be submitted when applying to the programme).”

“With Oosman as a shareholder and director of Sadapay there will be no sure way of ascertaining if he will share information and insights from our submission and discussions, even informally, with a company where he has a well-known, documented financial interest,” added the source.

Another entrepreneur questioned whether a level playing field could be expected when the managing director of Endeavor Pakistan has a vested interest in Sadapay. The potential for bias and preferential treatment raises concerns about fairness and integrity in the selection process.

Despite these concerns, it has been reported that Oosman continues to hold his position as director at Sadapay without disqualifying himself from the recruitment process for financial startups in Pakistan.

This conflict of interest is not an isolated incident, as it has been pointed out that Tania Aidrus, recently removed as the special assistant to the prime minister on technology, Government of Pakistan, also sits on the board of Endeavor Pakistan.

This raises questions about the organisation’s ability to address conflict of interest issues effectively.

Financial startups have called on Endeavor Pakistan to take immediate action and demand that Oosman either step down from his position at Sadapay or relinquish his role as a chief selector in the entrepreneur’s programme.

Failure to address this issue promptly may tarnish Endeavor Pakistan’s hardearned reputation and global standing. Transparency and impartiality are vital to ensure that the programme remains fair and competitive.