KOKO Networks Assets on the Market as PwC Seeks Investor

A formal search for investors has begun for KOKO Networks Limited after the clean-energy company was placed under administration.

PricewaterhouseCoopers (PwC), through joint administrators George Weru and Muniu Thoithi, has launched a process to sell the company’s business and assets as part of efforts to rescue it or secure better returns for creditors.

The administrators are inviting Expressions of Interest (EOIs) from investors who may want to acquire KOKO as a going concern or purchase specific assets.

These include the company’s nationwide bioethanol fuel distribution network, proprietary software and intellectual property, motor vehicles, and office equipment. Interested parties have until 5PM East African Time on February 26, 2026, to submit their EOIs to the administrators at PwC Tower in Nairobi.

KOKO was once one of Kenya’s most visible climate-technology firms. It built a wide network of smart bioethanol fuel dispensing machines, commonly known as KOKO Points, installed in supermarkets and retail outlets across major towns.

The company also developed smart tanker and depot systems that enabled digital tracking of fuel deliveries and sales. At its peak, KOKO served more than a million households in Kenya and Rwanda, offering bioethanol as a cleaner and cheaper alternative to charcoal and kerosene.

The company’s troubles began after it failed to secure regulatory authorisation needed to support its carbon credit export business.

Carbon credit sales were a key source of revenue and helped subsidise the cost of cooking fuel for households. Without access to the international carbon markets, the company struggled to sustain its operations and eventually fell into financial distress.

In a public notice, the administrators said, “The primary objective of the administration is to explore the possibility of rescuing the Company, maintaining the business as a going concern and achieving a better outcome for the creditors than they would get in a liquidation.” They added, “The Administrators intend to run an investor/transaction process to explore credible options for either the going concern acquisition of the business and assets of KOKO or for the acquisition of specific assets of the Company.”

PwC said the sale process is subject to creditor approval in line with the Insolvency Act. The administrators are seeking credible investors capable of injecting significant capital to stabilise operations and possibly revive the business in some form.