KOKO Networks Rwanda, the bioethanol cooking fuel company that introduced a cleaner alternative to charcoal and kerosene, is looking for investors after the collapse of financial support from its Kenyan parent company which entered insolvency in 2025.

The company, which was placed under provisional administration on April 1, is inviting potential investors to acquire the business or inject fresh capital to support its recovery and long-term growth in Rwanda.

KOKO Networks Kenya, which had been providing financial support to the Rwandan operation, entered insolvency administration in late 2025, disrupting funding and triggering a restructuring process at KOKO Rwanda.

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"We want an investor who can take over the company as a whole,” Isaac Bizimuremyi, the provisional administrator of KOKO Rwanda, told The New Times.

"Selling off assets is not our preferred option because it would effectively dismantle the business. That would only be considered as a last resort if efforts to secure an investor are unsuccessful.”

According to Bizimuremyi, the Kenyan company had been providing financial support to the Rwandan operation through soft loans, helping sustain cash flow as the business expanded.

"The Rwandan users were not directly connected to the Kenyan company,” he explained.

KOKO Rwanda filed for reorganisation in February this year before being placed under administration in April, a process intended to give distressed businesses an opportunity to recover while protecting creditor interests.

The New Times has learnt that the company's difficulties follow months of disruptions in the supply of bioethanol fuel and cooking stoves to about 250,000 users across Kigali, served through a network of 70,000 retail agents.

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KOKO Networks entered the Rwandan market in 2022, offering bioethanol as an affordable and cleaner alternative to traditional cooking fuels such as charcoal and firewood.

Bioethanol is produced by fermenting plant-based materials such as sugarcane, maize, or agricultural waste. It is considered a cleaner and safer energy source that can reduce indoor air pollution and environmental degradation.

The company sold bioethanol stoves at about Rwf22,000, while the fuel cost Rwf850 per litre, positioning it as one of the emerging alternatives to conventional cooking fuels.

According to Bizimuremyi, the business model had growth prospects before disruptions linked to its parent company's financial challenges slowed expansion plans.

The company had developed a model that enabled customers to access bioethanol fuel through neighbourhood agents, similar to the way mobile money services are distributed.

Bizimuremyi said that the business still has significant potential if new investment can be secured.

Annociata Mukamana, a resident of Kabeza in Kicukiro District, said cooking was much easier for her before fuel supply disruptions. The fuel reduced smoke in her kitchen and helped her avoid the daily price fluctuations of charcoal.

"I could just refill at a nearby agent and continue cooking normally. It was very convenient for me because I did not have to deal with the hassle of constantly buying charcoal,” she said.

She added that the service improved both comfort and health at home.

"What I liked most was that it reduced smoke in my kitchen. Cooking became much healthier for my family compared to charcoal. KOKO helped me manage cooking costs better because I could buy fuel in small amounts whenever I needed it. It was more flexible than buying a whole bag of charcoal,” she said.

KOKO's operations combine clean cooking infrastructure with a proprietary technology platform that manages fuel distribution, customer and agent networks, logistics, financial systems and other core business functions.

Bizimuremyi said the company's most valuable asset may not be its physical infrastructure, but the technology that underpins the business model. He highlighted that while some intellectual property remains under the ownership of shareholders, the technology platform itself remains central to the company's value proposition and future growth potential.

Interested investors have until June 15 to submit expressions of interest.