The multinational bioethanol company Koko Networks has instructed Kenyans to submit all unpaid claims by Wednesday, April 8, 2026, several weeks after announcing its withdrawal from the Kenyan market.
A notice issued on Thursday, April 2 and submitted to the High Court confirmed that the company has entered administration and arranged for a creditors’ meeting on April 10, 2026, which will be conducted online.
The notice stated: “The Joint Administrators of KOKO Networks Limited have requested the first creditors’ meeting, which will take place virtually on Friday, April 10, 2026, at 10 am through an online platform.”
This comes after months of financial difficulties stemming from a disagreement regarding carbon credit approvals, which were central to the company’s business approach.
Koko Networks focused its operations on providing bioethanol fuel and smart cookstoves aimed at assisting Kenyans to shift from using charcoal and kerosene.
By decreasing dependence on charcoal and kerosene, the company created carbon credits meant for sale in global markets.
Income from these credits was planned to subsidize fuel costs and make clean cooking accessible to low-income households in Kenya and internationally.
Nevertheless, the company encountered a challenge when President William Ruto’s administration reportedly refused to issue a letter of
Lacking this approval, the company lost its revenue source, preventing it from monetizing carbon credits, which made it impossible to maintain its operations despite having operations in various African and Asian markets.
Consequently, the company, with a valuation of Ksh22 billion, suspended its operations and laid off hundreds of employees, abruptly halting its rapid growth.
Administrators collaborating with PricewaterhouseCoopers (PwC) are currently managing the insolvency process, with creditors required to submit their claims and examine proposals regarding the company’s future before the planned meeting.
The notice added: “Creditors must confirm their attendance via email. Registered creditors will receive access information and login details after confirmation.”
They will also vote on potential future actions, including possible restructuring or recovery strategies.
To participate in the voting, creditors must have submitted their claim against the company along with necessary supporting documents to the Joint Administrators.
Creditors who cannot attend the meeting were instructed to communicate their decision regarding the proposals to the joint administrators in writing, either by mail or email.