Sometime last year, we walked into a small office in Nairobi, facing an all too familiar situation, another business in distress.
A once-thriving fintech company had officially gone into administration. Despite the best efforts of its directors, a tough economy, regulatory challenges, and dwindling investor confidence left no option but to bring in insolvency practitioners to take over.
For those unfamiliar with the administration process, it is a structured approach aimed at stabilising a financially distressed company by either turning it around or ensuring the best possible return for creditors.
It is a high-pressure, high-stakes process, and like many before us, we knew the road ahead would be tough. What we didn’t anticipate…
