PwC takes control of collapsed Koko as State remains silent

Koko's model depended heavily on carbon finance. By selling cookstove credits abroad, the company subsidised bioethanol fuel at home, making it cheaper than charcoal and kerosene. [Koko Networks]

The PricewaterhouseCoopers (PwC) has formally assumed control of the troubled clean-cooking start-up Koko Networks, administrators said Wednesday, as government officials remained silent on the regulatory dispute that triggered the company's collapse.

Joint administrators Muniu Thoithi and George Weru of PwC Kenya were appointed on February 1 to manage Koko Networks Limited and Koko Networks Global Services (Kenya) Limited, which are now in administration, a legal process designed to rescue a struggling company or wind it down in an orderly manner.