PwC Begins Sale of Koko Networks Assets as Clean-Cooking Startup Wind-Down Advances
PwC has begun the formal sale of assets belonging to Koko Networks, the collapsed clean-cooking startup, progressing the wind-down into active divestment. The process marks the final chapter of one of Africa's most prominent clean-cooking ventures following the ethanol platform divestment disclosed earlier.
Koko Networks: what killed it wasn't the stove — it was the carbon credit
KOKO built something real: smart fuel dispensers in over a million Kenyan homes, a cleaner alternative to charcoal, twelve years of technology development.
But the whole business ran on carbon credit revenue. When Kenya's government declined to issue the authorisations needed to sell those credits into international markets — and allegations surfaced that some credit claims had been overstated — the money stopped. Seven hundred jobs gone within weeks.
The uncomfortable truth for anyone building climate tech here: a business model that depends on a government saying yes every year, and on a global carbon market with its own credibility problems, isn't really a business model. It's a bet.
Whoever buys these assets inherits the hard part KOKO never solved.
2 sources
- PwC begins sale of Kenya’s KOKO Network’s assets · techpoint.africa · T1
- 👨🏿🚀TechCabal Daily – Koko runs out of gas · techcabal.com · T1