KOFISI, the premium shared workspace provider in Africa, posted a net loss of Sh417 million for the year ended December 31, 2024. The figure came out despite revenue climbing 24.5 per cent to Sh1.33 billion. Details surfaced in early January 2026 through financial updates shared online.
The company operates flexible offices and coworking spaces across several African countries, including Kenya, Tanzania, Nigeria, and Morocco. It focuses on hospitality-style environments for businesses and professionals. Recent years saw steady expansion, with new centres opening and existing ones growing.
Revenue growth shows demand stayed strong. Many companies shifted to hybrid work models after the pandemic, boosting the need for flexible spaces. KOFISI added locations and upgraded facilities, which likely drove the higher sales. The 24.5 per cent increase marks solid progress from the previous year.
But costs appear to have outpaced income. Expansion involves heavy spending on leases, fit-outs, and staffing. New sites take time to fill and turn profitable. The net loss of Sh417 million suggests those investments weighed on the bottom line in 2024.
KOFISI earned recognition for growth earlier. In 2025, it made the Financial Times list of Africa’s fastest-growing companies. Awards came for design and operations too. A $10.5 million investment round helped fuel plans to double the footprint across the continent.
Industry watchers note the coworking sector faces ups and downs. Competition grew with global players and local options. Economic pressures in some markets affected occupancy rates. Still, KOFISI maintained a premium position with high-end amenities.
The numbers align with updates from business trackers. Management has not commented directly on the loss so far.
For employees and clients, operations continue as usual. Centres in Nairobi, like those in Westlands or Upper Hill, remain popular. Members value the community feel and services.
Looking ahead, 2025 brought more openings, such as in Casablanca. The focus stays on operator-led growth rather than franchising. This approach aims for consistent quality but requires upfront capital.
Losses in growth phases are common for expanding firms. Revenue gains offer a positive sign amid the red ink. Investors watch if new spaces reach break-even soon.
KOFISI positions itself as Africa’s leading provider in the segment. Sustainability efforts, like audits and kitchen programmes, add to the brand.
The 2024 results highlight the balance between scaling and profitability. Many in the sector face similar trade-offs. As hybrid work settles, demand could stabilise. KOFISI’s track record suggests potential to turn things around.
Clients keep using the spaces for meetings and daily work. The loss does not seem to disrupt day-to-day. Financial details like this give a glimpse into behind-the-scenes challenges. Growth stories often include such years.
