Copia Kenya is in the process of shutting down after a decade of business operations. The administrators have given interested buyers less than one week to bid for its assets. Anthony Makenzi and JUlius Ngoga, KPMG consultants have announced the firm’s shutdown. This comes two months after their appointment late in May to stabilize the firm’s operations. Their efforts, however, were unable to save the sinking ship, leading to thousands of employees losing their jobs.
On Friday, copia Kenya administrators specified that bidders should be clear on the expression of interest (EOI). This is concerning whether they want to buy all business and its assets or specific assets. They will also give additional information on executing non disclosure agreements.
Among the things that copia admnistrators are seeking to sell include its ecommerce platform. This comprises of a website, an intergrated USSD code and a mobile app. Also, the firm’s brand with a customer base estimated at 2million and an agent network of 30,000 stores across the country.
While putting Copia Kenya under administration in May, the firm said said Copia Global was unable to attract capital. This was on the terms ammendable to all existing shareholders, funders and investors. They also said that the administarion will work to raise capital from new investors for Kenya business. READ ALSO: Bank Accounts For Counties Under Scrutiny.