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Administrators have begun marketing the assets of Koko Networks, the clean cooking startup that served more than one million Kenyan households, in the first major step toward winding down the company after its collapse in January.
The sale advances Koko’s insolvency after the company shut down operations and laid off more than 700 employees when the Kenyan government declined to approve a Letter of Authorisation needed to unlock carbon credit revenues.
Administrators are seeking buyers capable of transactions exceeding $15 million, signalling a preference for a strategic sale of the business rather than a breakup of individual assets.
An insolvency notice seen by TechCabal invites expressions of interest by July 17 for Koko’s integrated ethanol cooking technology and manufacturing platform. PwC, which is overseeing the administration of Koko Networks Limited, is expected to shortlist bidders after the deadline.
