Kenyan fintech firm Pezesha Africa Limited has filed a petition for the liquidation of Marketforce Technologies Limited, a B2B e-commerce platform, citing unpaid debts.
- •The insolvency petition, registered as E058 of 2023 in the High Court of Kenya at Nairobi Milimani Commercial and Tax Division, invokes the provisions of the Insolvency Act, 2015.
- •The court documents reveal that Pezesha Africa Limited, headquartered in Nairobi, is seeking a liquidation order against Marketforce Technologies Limited.
- •The petition alleges that Marketforce Technologies Limited owes a substantial amount to Pezesha Africa Limited, prompting the latter to pursue legal action to recover the outstanding debt.
According to the court documents, the petition was filed on September 25, 2023, with a next court date of March 11, 2024.
Marketforce Technologies Limited, a B2B e-commerce platform has recently downscaled its operations and is currently exploring alternative business models as per the CEO.
- •The company, which was founded five years ago, had a presence in multiple African countries, including Kenya, Nigeria, Uganda, Tanzania, and Rwanda.
- •It had ambitious expansion plans in Ethiopia and Ghana through a partnership with Cellulant.
- •The court notice also invites any other creditor or contributory of Marketforce Technologies Limited to appear at the scheduled hearing if they wish to support or oppose the liquidation order.
