Just weeks after the high-profile collapse of Kenya’s Copia Global in May 2024, several of its top executives have resurfaced with a new e-commerce startup. The new venture, named Stahili, is spearheaded by former Copia CEO Tim Steel, ex-CTO Michael King, and co-founder Tracey Turner, who now serves as executive chair. Corporate filings reveal the company was officially registered in June 2024, signaling a rapid re-entry into the market following Copia's demise.
Introducing Stahili: A Cashback-Driven Platform
Stahili is already operational in Kenya with a functioning website offering product deals and user incentives. The platform sets itself apart by offering cashback, discounts, and mobile data rewards in exchange for user engagement such as participating in surveys and providing product feedback. Drawing on models like Groupon and South Korea’s Coupang, Stahili aims to position itself as a value-driven platform for lower-income African consumers.
A Controversial Launch Amid Unresolved Fallout
The emergence of Stahili has not gone unnoticed, particularly as it comes on the heels of one of Kenya’s most notable startup failures. Many former employees, creditors, and investors of Copia are still grappling with the fallout, including unpaid dues and uncertain recoveries from the liquidation process. The timing of Stahili’s launch—less than a month after Copia’s administration filing—has raised eyebrows within Kenya’s tech and investment communities.
Old Roots, New Branding
Despite the new branding, Stahili’s ownership traces directly back to familiar territory. Business filings indicate that the new startup is fully owned by Copia Holding Company, a U.S.-registered entity closely linked to Tracey Turner and previously associated with Copia Global. While Copia's African operations were wound down by September 2024, the holding company remains intact and appears to have shifted focus toward Stahili.
No Public Statements from Founders
At the time of publication, Turner and Steel had not issued any public comments or responses to inquiries about Stahili or the circumstances surrounding its launch. This silence has only fueled speculation about the future of the new platform and its connections to the now-defunct Copia. Nonetheless, Turner’s LinkedIn profile does provide a brief mention of Stahili, framing it as a mission-driven platform built to empower consumers through digital engagement.
The Legacy of Copia Global
Copia, founded in 2012, was once seen as a beacon of inclusive commerce in Africa, building its reputation on an agent-based model to reach underserved rural and peri-urban markets. The company raised over $123 million from respected investors including DOB Equity, Lightrock, Enza Capital, and the U.S. International Development Finance Corporation (DFC). However, despite its social impact narrative and deep investor backing, Copia struggled with profitability throughout its 12-year existence.
From Growth to Collapse
Copia’s final months were marked by intensifying financial strain. The company secured a $20 million funding round in December 2023, but mounting operational costs and low margins proved unsustainable. By May 2024, the company filed for voluntary administration, and within four months, it ceased operations across Kenya and Uganda, entering liquidation to satisfy outstanding debts.
The Uncertain Road Ahead
Whether Stahili will pursue fresh capital remains unclear, as does its broader strategic roadmap. If it hopes to avoid Copia’s fate, it will need to balance user acquisition with tight cost controls and a clear path to profitability. Stahili’s success—or failure—could offer critical lessons for Africa’s venture ecosystem on the viability of scaling e-commerce for underserved markets.
The launch of Stahili marks a bold and potentially controversial comeback by Copia’s former leadership to the sector they once aimed to transform. The platform’s focus on rewarding user engagement introduces a fresh approach, yet the impact of Copia’s collapse still casts a long shadow. As Kenya’s tech community observes closely, Stahili enters the market under intense scrutiny and high expectations for a different outcome.