Is it difficult to meet the licensing conditions to sell carbon credits? Employees lose jobs because their employer has been unable to sell carbon credits, the company’s anticipated source of revenue.
Koko Networks, a company that has been providing clean, affordable energy in Kenya, has closed shop. Apparently, the company could not maintain its workforce and continue normal operations. The company arrived at that decision in January 2026.
How the Company Operated
Through its KOKOpoint brand, the company provided fuel-dispensing facilities to local kiosks. Customers would then purchase any amount of the clean energy from those small shops using mobile money, such as MPESA.
Customers, many of them in the low-income bracket, would receive KOKO cookers from the company. They would then refill those cookers with the company’s bioethanol, according to their respective needs.
Kenyan “hustlers” were, therefore, able to enjoy clean energy and avoid the respiratory illnesses associated with smoke. The readily available and affordable energy also kept them from felling trees, helping to sustain the environment.
What was KOKO Networks’ problem?
KOKO Networks could not secure the necessary government authorization to sell its carbon credits. According to the company, 700 jobs have been lost in Kenya following the company’s closure.
The number of households reliant on KOKOpoint’s supplies is estimated at around a million. KOKO Networks is not the only company leaving East Africa. Letshego, which also has a presence in Kenya, has wound up its operations in Uganda and Tanzania.
However, the difference is that Letshego has sold its business to another investor.
About KOKO Networks
KOKO Networks is reportedly affiliated with a UK company. It is that company that apparently released the local company’s insolvency records.
To help the local company invest in affordable clean energy in Kenya, the company is said to have raised US$100 million.
After the company acknowledged its revenue challenge early this year, Price Waterhouse Coopers (PwC) entered into KOKO Networks’ administration. The clean energy company began operations in Kenya in 2019 and entered administration in February 2026.
Ultimate Losers
Apart from the employees, who will receive some compensation through what the company deems external funding, other stakeholders will apparently lose.
Even secured creditors whose debt is estimated at around US$60 may not be repaid in full. Any unsecured creditor is, therefore, going to lose their investment, including any investor who anticipated a dividend.
The company’s exit is also bound to have some impact locally. According to KEMRI, air pollution contributes significantly to respiratory problems in Kenya, with many people experiencing asthma-like symptoms.