The collapse of Nairobi-based clean cooking start-up Koko Networks has dealt a £36.85 million (Sh6.4 billion) blow to its UK parent company, which is also shutting down after its Kenyan subsidiary failed to secure government approval to export carbon credits.
New filings submitted to the UK government show the parent firm, Koko Networks (UK) Limited, wrote off £35.5 million (Sh6.15 billion) in loans owed by its subsidiary after determining the debt would not be repaid in the wake of the events in Kenya.
