Kenyan court orders e-commerce company Copia into liquidation

**A Kenyan High Court has ordered Copia Kenya, the e-commerce company that raised over US$120 million to serve consumers outside the country’s major cities, into liquidation after more than two years of administration failed to revive the business. **

Launched in 2013, Copia combines technology and a network of local agents to offer a broad product offering and efficient, reliable delivery to “base of the pyramid” consumers. Its service enables rural households to access goods that would otherwise be difficult to obtain without travelling to a major city.

The company raised more than US$120 million in capital, with its most recent raise being a US$50 million Series C, and expanded into new markets, but in May 2024 entered administration after failing to secure the necessary capital to continue operations.

In a September 17 ruling, the Kenyan High Court found no realistic path for Copia to return to operating as a going concern, meaning extending the administration would only add delay and costs. Copia will now go into liquidation, with its remaining assets estimated at KES206.6 million (US$1.6 million) as of February.

“I am satisfied that the Joint Administrators have demonstrated, on a balance of probabilities, that the objectives of administration have been exhausted,” Justice Rhoda Rutto wrote in the ruling.

Copia’s existing administrators, Julius Mumo Ngonga and Anthony Makenzi Muthusi of KPMG, have been appointed as joint liquidators.

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