Greg Murray of KOKO Networks on creating clean cooking oil for Africa

KOKO Networks, a technology company based in Nairobi, is making waves in Africa by revolutionizing the cooking fuel industry with its innovative approach. CEO Greg Murray recently spoke with CNBC Africa's Chris Bishop at the World Economic Forum in Africa about the company's mission to create a cleaner, more affordable cooking fuel option for urban populations across the continent. The $40 billion cooking gas market in Africa is currently dominated by charcoal and kerosene, which contribute to deforestation and environmental degradation. KOKO Networks has developed a liquid ethanol cooking fuel that is not only cost-effective but also provides a higher quality cooking experience for consumers. The company's unique technology platform allows large fuel distributors to integrate this fourth line of liquid fuel into their existing infrastructure, ultimately reaching the end consumer through a network of 700 shops in dense urban neighborhoods. These shops host Coco Point Fuel ATMs, where customers can conveniently access the fuel using smart canisters and pay with empacer, an electronic payment system. By offering a cleaner and safer alternative to traditional cooking fuels, KOKO Networks aims to improve both the environment and quality of life for millions of people in urban Africa. A key milestone for KOKO Networks was the partnership with Vivo Energy Kenya, the company behind the shell-branded assets in Africa. This collaboration has enabled KOKO Networks to distribute their ethanol cooking fuel through shell stations in Nairobi, with plans to expand into Tanzania and Uganda in the near future. Murray emphasized the importance of partnerships and government support in scaling this innovative solution across the continent. While replicating the model in other African countries may pose challenges, the company is committed to working closely with local regulators and stakeholders to drive adoption and impact. In terms of investments, KOKO Networks has attracted funding from a mix of foreign investors and African family offices. Murray highlighted the significance of local capital in driving the company's growth and impact in the region. With a focus on commercial viability and social impact, KOKO Networks is positioning itself as a scalable solution to the clean cooking fuel challenge in Africa. Despite the potential for pushback from traditional fuel suppliers, Murray remains optimistic about the market demand for cleaner cooking solutions. He emphasized the health and economic benefits of transitioning to cleaner fuels, citing statistics from the World Health Organization that highlight the dangers associated with dirty cooking fuels. By addressing these challenges head-on, KOKO Networks is poised to become a leading player in the clean energy space in Africa. Looking ahead, the company's vision includes a potential listing in the next four to five years, with ambitions to grow into a significant platform that can support a range of goods and services beyond cooking fuel. While specific turnover numbers were not disclosed, Murray hinted at telco-like economics with a fraction of the investment, indicating the company's potential for substantial growth in the coming years. With a focus on team expansion, partnership development, and network expansion, KOKO Networks is setting the stage for a transformative impact on the cooking fuel market in Africa and beyond.