By Staff Writer
KOKO fuel is quickly gaining currency in Kenya as an alternative to dirty forms of fuel like charcoal and kerosene. The eco-friendly fuel company made its entry into the East African economic powerhouse in July 2019. From just 40,000 users, KOKO fuel numbers have grown to hit over 250,000 new users in Nairobi.
About KOKO Fuel
Cost of a KOKO stove was USD 40 (Kes4,000) when it entered the market. The price has been halved to Sh2021 (approximately USD20). When you make the initial purchase, you get free fuel for your first two refills. The minimum refill cost is Sh30 and the maximum is Sh179.
Shops are equipped with KOKO Fuel ATMs to make the ultra low carbon renewable bioethanol fuel easily accessible.
Founders
The founders of KOKO Networks are:
Greg Murray
He is a co-founder and CEO of KOKO Network. According to Afsic.net, Greg has had an illustrious career having served as Managing Partner for CleanStar Ventures. He also served as Director, Middle East & Africa for a strategy consulting firm in Abu Dhabi, Operations Director for a telecoms software start-up in Sydney, and trained as an accountant and management consultant with KPMG.
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Greg holds a Bachelor of Commerce from the University of New South Wales. The Australian is based in Nairobi where he lives with his wife and three children.
Nicholas Stokes
He is a co-founder and the Chief Financial Officer (CFO) at KOKO Networks. According to his Linkedin account, Nicholas has worked in Africa, Asia and European capitals.
Prior to founding KOKO, Stokes was CleanStar Ventures Africa CFO.
Sagun Saxena
He is one of the co-founders and also doubles up as an executive director and Chief Innovation Officer at KOKO. The Oxford University alumni has 20 years plus experience in “helping start-up and mature organizations achieve ambitious growth and transformation objectives.”
Sagun was a Managing Partner at CleanStar. He was born in India and raised in the Middle East, Europe, and the United States.
Micael da Costa is also listed as a co-founder and Chief Systems Officer at KOKO.