Mobius Motors Kenya Ltd, the ambitious startup aiming to revolutionize African transportation, has initiated voluntary liquidation proceedings. The company, known for its affordable SUVs designed for African roads, made the announcement through a public notice on Tuesday.
The shareholders of Mobius Motors Kenya Ltd voted on August 5, 2024, to place the company under liquidation, as per Section 393(1)(b) of the Insolvency Act, 2015. KVSK Sastry has been appointed as the liquidator to oversee the winding-up process.
Nicolas Guibert, Director of Mobius Motors Kenya Ltd, stated in the notice, “A meeting of the creditors will be held on 15-Aug-2024 at 9AM at Mobius Factory to consider, and if thought fit, to pass a Resolution approving the Shareholders’ nominee as the Liquidator of the Company as per Section 408 of the Insolvency Act.”
The creditors’ meeting, a crucial step in the liquidation process, is set to take place at the company’s factory located at the junction of Mombasa and Enterprise Road in Nairobi. This gathering will provide creditors with the opportunity to approve or contest the shareholders’ choice of liquidator.
In a move towards transparency, Mobius Motors has announced that a list of creditors’ names and proxy forms will be made available for inspection on August 9, 2024, at the company’s offices in Sameer Business Park, Mombasa Road, Nairobi. This step allows creditors to review their standing and prepare for the upcoming meeting.
Mobius Motors, founded in 2010, gained attention for its innovative approach to vehicle manufacturing in Africa. The company’s flagship model, Mobius II, was specifically designed to handle rural African roads while remaining affordably priced, comparable to a used sedan.
