The same administrators who were appointed to rescue Copia Kenya have now filed an insolvency petition against the e-commerce platform, a rare twist in a case that reveals the breakdown of efforts to revive the once-buzzy startup.
Anthony Makenzi Muthusi and Julius Ngonga of KPMG filed the petition at the Commercial and Admiralty Division of the Milimani Law Courts, according to a gazette notice. The administrators were appointed to manage Copia’s assets in 2024 but now say the company cannot meet its debts. The case is set for a hearing on May 11, with creditors and other interested parties allowed to support or challenge the application.
An insolvency petition is typically filed when a business cannot meet debt repayments on time or when liabilities outweigh available assets. The filing marks a shift from the administration process launched nearly two years ago.
Copia was founded in 2013 by Tracey Turner and Jonathan Lewis, who had previously built and sold social impact fintech companies in Silicon Valley. The company built its brand around serving consumers outside major urban centres in Kenya, using a network of local agents and proprietary logistics to reach low-income and rural households. It targeted a market of about 750 million people across Africa with collective purchasing power that traditional retailers had largely ignored.
Investors poured money into the vision. Copia raised more than USD 100 M between its launch and 2022, including a USD 50 M Series C round led by Goodwell Investments that year and a USD 20 M extension in late 2023 led by Enza Capital. Its backers included the U.S. International Development Finance Corporation, the German development finance institution DEG, LGT and Microsoft founder Paul Allen’s Vulcan Capital.
The downturn was rapid. In April 2023, Copia exited the Ugandan market. By mid-2024, the company could no longer meet its payroll. It placed its assets under the management of Muthusi and Ngonga of KPMG as it searched for a path to stabilise operations and attract capital. The restructuring led to plans for more than 1,000 job cuts.
The macroeconomic environment has worsened for Kenyan e-commerce ventures, with slower funding activity, higher logistics costs and tighter consumer spending. A new digital tax that took effect in December 2024 has also been cited as a risk to traders, threatening to push small businesses off formal e-commerce platforms and back into informal markets.
The court proceedings at the Commercial and Admiralty Division are expected to determine the next stage of the company’s future, including whether operations continue under a revised structure or move toward formal liquidation.

