Monwalk Investment Limited has been placed under administration following action by Kenya Commercial Bank (KCB), which holds a qualifying floating charge over the company’s assets.
On November 26, KCB appointed Long’et Terer of Long’et & Mumo LLP as the administrator for Moonwalk Investment Limited, registered under CPR/2012/84544. The administrator now assumes full control over the management and property of the company.
Under the appointment, the administrator can override the directors’ authority regarding company operations, which are suspended unless approved by the administrator. Long’et Terer’s mandate is to stabilise the company, engage stakeholders, and achieve the best outcomes for creditors and other interested parties. Creditors are asked to submit claims by December 24, 2025, at the administrator’s offices on Jakaya Kikwete Road, Nairobi.
Monwalk’s financial difficulties primarily stem from a tax dispute with the Kenya Revenue Authority (KRA), resulting in a fine of KSh 487.9 million. The Tax Appeal Tribunal upheld the assessment in March 2023, after finding that Monwalk had used counterfeit excise stamps on alcoholic beverages between 2016 and 2020. The company’s appeal was dismissed, leaving the fine unresolved.
The move mirrors a wider trend of corporate administration in Kenya, with firms like Tecof Limited, Mt. Kenya Tea Factory, Njeru Industries, and several Cytonn-linked SPVs being placed under administration this year due to financial stress.
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In Kenya, administration is governed by the Insolvency Act 2015. It allows an independent professional to manage a distressed company, safeguarding assets, preventing immediate liquidation, and maximising returns for creditors.
The administrator assumes full operational control while directors’ powers are suspended unless authorised. Typical procedures include assessing liabilities, negotiating with creditors, and exploring restructuring or asset-sale options.
Stakeholders of Moonwalk Investment now await further updates as the administrator implements the process.
