PricewaterhouseCoopers has launched a frantic search for buyers to acquire the assets of the collapsed clean-energy startup Koko Networks Ltd, following a paralyzing regulatory dispute with the government.

The dramatic collapse of Koko Networks Ltd, once hailed as a revolutionary force in Kenya's clean-energy sector, has sent shockwaves through the regional tech and environmental ecosystems. Following a paralyzing regulatory standoff with the State, the celebrated startup has officially entered administration.

Now, the critical task of salvaging value from the wreckage falls to PricewaterhouseCoopers (PwC). Joint administrators Muniu Thoithi and George Weru are executing a desperate, high-stakes search for deep-pocketed buyers to acquire the company's assets, hoping to mitigate the immense financial damage inflicted upon anxious creditors and stranded consumers.

The Carbon Credit Conundrum

Koko Networks built its innovative, highly subsidized business model on a fragile foundation: the lucrative global market for carbon credits. The company successfully distributed heavily discounted bioethanol cooking fuel to hundreds of thousands of low-income Kenyan households, offsetting these operational losses by selling highly prized carbon credits to international compliance markets.

However, this intricate financial architecture violently collapsed when President William Ruto's administration allegedly refused to issue the final, mandatory letters of authorisation. This bureaucratic blockade effectively severed Koko's access to the international carbon markets, instantly strangling its primary revenue stream and plunging the company into an inescapable liquidity crisis.

• Sudden suspension of crucial government authorizations for carbon credit trading.
• Immediate, catastrophic loss of primary operational revenue streams for the startup.
• Hundreds of thousands of low-income households left with highly uncertain energy access.

The Urgent Mandate For Administrators

Appointed in early February 2026, the PwC administrators face a monumental challenge. They must meticulously assess whether any viable fragment of the business can be surgically extracted and saved, or if a total, piecemeal liquidation of assets is the only grim alternative. The stakes are exceptionally high, with creditors aggressively demanding the rapid restitution of their capital.

The financial scale of the collapse is substantial. While exact debt figures remain fiercely guarded, industry insiders estimate the outstanding liabilities could easily exceed $20m (approx. KES 2.6bn). PwC has formally mandated all creditors to submit their claims for rigorous verification within a strict 14-day window, signaling a rapid and ruthless restructuring process.

The Chilling Effect On Innovation

The tragic demise of Koko Networks serves as a stark, terrifying cautionary tale for foreign and domestic investors eyeing Kenya's burgeoning green economy. The unpredictable nature of regulatory frameworks and the sudden, arbitrary withdrawal of government support can obliterate even the most robustly funded enterprises overnight.

Operating synchronously on East Africa Time (EAT), the global investment community is watching this liquidation process with deep apprehension. "This isn't just about a single failed company; it's a chilling referendum on the reliability of Kenya's regulatory environment for climate-tech investments," a prominent energy sector analyst warned.

As PwC meticulously dissects the remains of what was once a shining beacon of sustainable innovation, the ultimate fate of Koko Networks will undoubtedly redefine the risk parameters for clean energy investments across the entire African continent.