PricewaterhouseCoopers (PwC) is seeking buyers for the assets of collapsed clean-energy startup Koko Networks Ltd after it entered administration on February 1, 2024. The company, which served around 1.3 million low-income households, faced regulatory disputes with the Kenyan government over carbon credit sales.

• Koko Networks had invested over $300 million (Sh38.7 billion) in its clean-cooking distribution network across Kenya and Rwanda.
• Joint administrators Muniu Thoithi and George Weru have issued a request for expressions of interest (EOI) for the company’s business or assets, with a submission deadline of February 26.
• The collapse resulted from an eight-month deadlock with environment ministry officials who blocked authorization for Koko Networks to sell carbon credits into international compliance markets under the Paris Agreement's Article 6 and the Corsia scheme, where prices average $20 (Sh2,600) per tonne.
• The regulatory impasse exposes Kenyan taxpayers to a potential liability of up to Sh23 billion through a World Bank political risk guarantee.
• Over 700 employees have been rendered jobless, and households are now forced to return to charcoal and kerosene.