‘Even good doctors lose patients, ’ David Ndii says on Koko closure
‘Even good doctors lose patients, ’ David Ndii says on Koko closure..
✨ Key Highlights
Koko Networks, a company providing clean cooking solutions, has shut down operations in Kenya following a dispute with the Kenyan government over carbon credit sales. President William Ruto's economic advisor, David Ndii, attributed the closure to multiple factors, stating that intervention is now "Too late."
Ndii cited "The Paris Agreement itself, the veracity of cookstove carbon credits, our investor unfriendly NDC regime and carbon market regulations, transparency of Koko's business model, (and) diplomatic meddling" as reasons for the closure.
Koko Networks provided clean ethanol cooking fuel and products in Kenya and other East African countries.
Business Daily reported that Koko had an agreement with the World Bank's Multilateral Investment Guarantee Agency, potentially compelling the state to compensate the investor for business interference.
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