BBOXX, a UK-based off-grid solar solutions provider with operations across Africa, is facing a winding-up petition filed by a German investment firm, 5th Dimension Investment GmbH. The petition, filed on April 3, 2025, is scheduled to be heard at the High Court of Justice (Companies Court) in London on May 21, 2025.
According to court filings, the petition seeks to wind up BBOXX Ltd under the Insolvency Act 1986, citing financial claims yet to be disclosed publicly. The matter will be heard before the Business and Property Courts of England & Wales at the Rolls Building in Fetter Lane, London.
The petition was lodged by 5th Dimension Investment GmbH, a Berlin-based investment company headquartered at Hardenbergstraße 27, Berlin. Legal representation for the petitioner is being handled by Child & Child Law Limited, a London-based law firm.
Any parties—creditors, stakeholders, or interested members of the public—wishing to support or oppose the petition must notify the petitioner’s solicitors by 4:00 p.m. on May 20, 2025, in accordance with Rule 7.14 of the UK Insolvency Rules.
Early last year, Bboxx announced it had moved its Headquarters from London to Kigali, reaffirming its commitment as an Africa-first company.
Bboxx announced this decision at the UK-Rwanda Business Forum in Kigali, underscoring its commitment to Africa to serve by training nearly 1000 more Rwandans in the next 5 years and investing USD$100 million in the country.
According to Mansoor Hamayun, CEO and Co-Founder of Bboxx, “In our journey to revolutionise access to essential products and services across Africa, it’s only fitting that we position ourselves at the heart of the continent. This move to Kigali not only brings us closer to the communities we serve but also cements our commitment to be an Africa-first, data-driven super platform, transforming lives and unlocking potential at an unprecedented scale.”
Then in July 2024, Mansoor Hamayun, announced resignation from the firm after reaching over 5 million people and creating over 3,500 jobs. In 2015, he was recognized as a Bloomberg New Energy Pioneer, and a member of the Young Presidents’ Organization (YPO), a global network of young business leaders.
Anthony Osijo was announced as the new Chief Executive Officer effective 23rd July 2024 to help Bboxx consolidate its gains and scale further into more products and regions with its renewable energy and finance products for the masses.
A Blow to the Off-Grid Energy Sector?
Founded in 2010, BBOXX has played a pivotal role in deploying pay-as-you-go solar home systems across Africa and Asia. The company has raised millions in equity and debt financing from global investors to expand access to clean energy, especially in rural and underserved areas.
This development casts uncertainty over the future of BBOXX’s operations and its extensive footprint in countries like Rwanda, Kenya, Togo, and the Democratic Republic of Congo, where it has partnered with governments and utilities to power off-grid communities.
African Startup Ecosystem Under Pressure
The petition comes amid a broader trend of financial strain within Africa’s tech ecosystem. Over the past year, several prominent startups have shut down or entered restructuring. Kenya-based B2B commerce startup MarketForce ceased operations in several markets after failing to secure follow-on funding. Buy-now-pay-later platform Lipa Later has also faced financial turbulence, leading to layoffs and halted regional expansion. Others like logistics firm Sendy, Egypt’s mobility startup SWVL, and Nigeria’s e-commerce venture 54gene have also scaled back or shut down due to unsustainable burn rates and investor pullback.
These closures reflect the growing difficulty of maintaining growth-stage operations on the continent in the absence of strong revenue models and amid dwindling venture capital inflows.
What’s Next?
If the court grants the winding-up order, a liquidator will be appointed to assess BBOXX’s assets and liabilities, and potentially dissolve the company. This could significantly affect employees, suppliers, partner governments, and financiers with active interests in BBOXX’s renewable energy initiatives.
TechMoran will continue to follow the case closely and provide updates as they develop.
