By 
Mypay Financial Solutions Limited, a subsidiary of Finsbury Investments Limited, has been dragged to court over alleged unpaid terminal benefits totaling US$360,000, following the death of its former Chief Executive Officer, Anthony Cornelius Grant.
In a lawsuit filed before the Lusaka High Court, Dr. Ayan Abdi Ahmed—widow of the late Grant and administrator of his estate—is seeking compensation from both Mypay and its parent company, Finsbury Investments.
Grant, who died intestate on May 12, 2023, served as CEO under two successive contracts from July 2019 to June 2023.
Court documents reveal that Grant’s employment contract entitled him to a monthly salary of $10,000, annual leave, medical cover for himself and his family, and gratuity amounting to 25 percent of his basic salary.
However, the widow claims the defendants failed to fulfil their obligations, with outstanding entitlements including $220,000 in salary arrears, $25,000 in leave pay, and $115,000 in gratuity.
Dr. Ahmed argued that the two companies operated as a single economic entity, with Finsbury allegedly exercising substantial control over Mypay’s operations.
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She stated that the parent company even paid some of Grant’s medical bills, which she says reinforces their joint liability for the outstanding dues.
The suit further alleges that the structure between the companies was deliberately designed to obscure financial responsibilities, calling on the court to pierce the corporate veil and hold both entities accountable.
In its defense, Mypay Financial Solutions denied the allegations and insisted that it and Finsbury are distinct legal entities, merely affiliated through the Mahtani Group of Companies.
The company further argued that Grant’s $10,000 monthly salary was conditional upon Mypay becoming operational through the National Financial Switch—a milestone that was never achieved.
It said the employment contract was subsequently varied, reducing Grant’s pay to $5,000 per month and suspending gratuity and leave benefits until operations commenced.
Mypay contends that Grant, as CEO, personally adjusted his pay accordingly, and therefore no arrears are owed.
The company also claimed it incurred significant medical and funeral expenses for Grant and his family, including over K4.8 million in medical bills that exceeded insurance coverage limits.
It stated it paid $239,000 for Grant’s treatment in South Africa and is now counterclaiming $142,354 from the estate, citing overpayments beyond insurance limits.
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