Cooking Fuel Firm KOKO Moves to Sell Assets to Rescue Business After Entering Administration

KOKO Networks Limited has moved to sell its business and key assets after entering administration in a bid to rescue the company.

In a notice dated Thursday, February 19, 2026, the company’s joint administrators, PricewaterhouseCoopers (PwC), invited investors to submit expressions of interest (EOI) in acquiring either the entire business as a going concern or selected assets.

According to the notice, the move is intended to attract new capital to revive the company’s operations and avoid liquidation.

“The primary objective of the administration of the company, as set out in the Insolvency Act, is, to the extent possible, to explore the possibility of rescuing the company, maintaining the business as a going concern, and achieving a better outcome for creditors than they would get in a liquidation,” read the notice.

KOKO Seeks Investor Rescue After Entering Administration

The assets up for potential acquisition include KOKO’s nationwide fuel distribution and retail network, which includes smart fuel-dispensing machines known as KOKO Points, smart tanker and depot systems, and a fleet of trucks and motorbikes. Other assets include software and intellectual property critical to the company’s operations, as well as office equipment and furniture.

The administrators noted that a significant capital injection would be required to resolve the company’s insolvency and ensure long-term sustainability.

Also Read: Govt Explains Why License of KOKO Won’t Be Renewed Amid Over 700 Job Losses

They are now seeking credible investors capable of acquiring and operating the business or purchasing selected assets.

KOKO, a climate-technology firm, focused on providing bioethanol as a cleaner and more affordable alternative to traditional cooking fuels such as charcoal and kerosene. Its model relied on a technology-driven fuel distribution network designed to make modern cooking fuel accessible to households across Africa.

Under Kenya’s Insolvency Act, administration allows financially distressed companies to reorganise and explore rescue options while protecting creditors’ interests. The process aims to maintain the business as a going concern where possible or secure better returns for creditors than would be achieved through liquidation.

How to Submit Your Expression of Interest (EOI) for the Cooking Fuel Firm

Interested parties should submit their Expression of Interest (EOI), including:
a. Name and contact details of the interested party
b. Brief profile of the interested party
c. Indication of the nature and specifics of the interest
d. Strategic rationale for interest in the investment opportunity
e. Any relevant information demonstrating credibility and eligibility for the potential transaction, including financial capability
f. Guidance on timelines and information required for due diligence
g. Any other information deemed appropriate or necessary

Also Read: Cooking Fuel Firm KOKO to Officially Shut Down Operations in Kenya

Interested parties have until February 26, 2026, to submit their expressions of interest to the Joint Administrators of KOKO Networks Limited (in Administration), care of George Weru and Muniu Thoithi, at PricewaterhouseCoopers Tower, Waiyaki Way/Chiromo Road, Nairobi, Kenya, P.O. Box 43963-00100, Nairobi, Kenya, or via email at ke_knk_administrators@pwc.com

Only shortlisted investors will proceed to the next stage of the transaction process, which will include access to detailed company information after signing confidentiality agreements.

Follow our WhatsApp channel for Instant News Updates