Koko Networks winds down after Kenya rejects carbon credit licence

Administrators have begun marketing the assets of Koko Networks, the clean‑cooking startup that served over one million Kenyan households, after the company collapsed in January when Kenya's government refused to approve the Letter of Authorisation needed to unlock its carbon‑credit revenues. The notice, overseen by PwC, invites expressions of interest by July 17, 2026 for buyers able to commit deals above $15 million, with a preference for a strategic sale of the whole business. Assets on offer include Koko's intellectual property portfolio (patents, hardware designs and software), its stove and canister manufacturing plant in Sanand, Gujarat, India, and the fuel distribution and retail platform that powered more than 3,000 automated fuel stations across Kenya. The startup, founded in 2013 by Gregg Murray, had backing from Microsoft's Climate Innovation Fund, Mirova, Verod-Kepple, Rand Merchant Bank and a $179.6 million guarantee from the World Bank's MIGA agency.

For Nigerian clean-energy entrepreneurs, the collapse highlights the risk of over-reliance on carbon-credit income that can be withdrawn by a single regulatory decision. It underscores the need to diversify revenue streams, secure local regulatory approvals early, and consider domestic manufacturing or distribution models that are less exposed to foreign-policy shifts.

If you are exploring opportunities in the clean-cooking space, assess whether acquiring Koko's technology or plant could accelerate your scale-up, and note the July 17 deadline for formal expressions of interest.

SOURCE: https://techcabal.com/2026/07/08/administrators-seek-buyers-for-collapsed-koko-networks/