Multi-Billion Company Issues Notice to Hundreds of Employees After Shutdown
The notice comes weeks after the company's branch in Kenya directed its workers to report any unpaid claims following its announcement of its exit from the Kenyan market...
āØ Key Highlights
Koko Networks employees may receive limited financial relief amidst the company's collapse, which has left creditors facing substantial losses.
- Limited financial relief for employees, funded by a third-party arrangement, is planned.
- Koko Networks, a clean cooking and carbon credit group, is undergoing formal insolvency proceedings across Kenya, the United Kingdom, Mauritius, Rwanda, and India.
- Secured creditors face potential losses of up to Ksh7.75 billion ($60 million), while unsecured creditors, with claims around Ksh20.8 billion (Ā£126 million), are unlikely to receive any dividend.
Continue Reading
Read the complete article from Kenyans
Part of the Day's Coverage
Nearly 1,000 Workers Face Layoff as Govt Shuts Down Nairobi Company - May 2026
The National Environment Management Authority (NEMA) shut down a chemical company in Mlolongo for allegedly discharging untreated waste into the Nairobi River, leading to nearly 1,000 workers facing layoffs. The raid was led by NEMA Director General Mamo Mamo and Environment Cabinet Secretary Deborah Barasa, resulting in arrests. Separately, Koko Networks employees may receive limited financial relief amidst the company's collapse, which has left creditors facing substantial losses. Meanwhile, the National Treasury has halted all funding for rent and renovations of leased government offices, including the Office of the Prime Cabinet Secretary, as part of cost-cutting measures in the 2026/2027 Budget Summary.
