Co-working space provider Kofisi plans to expand its presence in the food and beverage business as it targets Kenya’s meetings and events market to return to growth.
Kofisi will work with specialist partners on food and beverage services as it changes its operating model to focus on meetings, conferences and events to improve occupancy.
Kofisi offers private offices, meeting rooms and shared facilities through memberships for clients like freelancers and remote workers.
The entry into the food business builds on Kofisi’s existing bistros and cafes, which serve drinks and quick meals to members. It recently introduced catering menus for corporate meetings, workshops and private functions.
Kofisi has recently scaled back its Kenyan footprint, closing its Karen and Upper Hill outlets in December 2025 to focus on larger centres targeting corporate clients.
‘The proposals include working with specialist partners on food and beverage and sharpening its focus on meetings and events, with the aim of maintaining high occupancy rates and strengthening revenue streams in Nairobi and other African markets,’ the London-based firm said in a statement to the Business Daily.
Kenya is Kofisi’s largest African market, accounting for four of the 11 co-working spaces it operates on the continent. CEO and founder Michael Aldridge said the Nairobi centres continue to operate normally during the transition.
Kofisi also plans to seek new investment to support expansion into other key markets it is yet to disclose.
Last year’s closures followed a $3.2 million (Sh416 million) loss reported for the year ended December 2024, reversing a $16.28 million (Sh2.1 billion) profit recorded in 2023.
Kofisi said moving to larger locations would allow it to explore hotel-style services and economies of scale.
‘This is to allow the company to focus on larger spaces where the client experience can be enhanced by a mixture of community spaces, investments in hotelification of service and larger economies of scale,’ the company said.
Kofisi’s model is like the American company WeWork’s and is part of a booming global industry, also targeting startups and large companies seeking collaborative and adaptable workspaces without expensive, long-term leases.
The latest changes align Kofisi with a strategy focused on larger-scale workspaces and enterprise customers, compared to cheaper, individual-customer memberships.
‘The changes will be implemented in a manner that maintains continuity and supports the high standards of service for which we are known,’ the statement said. ‘The proposed changes will be progressed formally over the coming months.’
Kofisi’s revenues rose 24.5 percent to to $10.27 million (Sh1.3 billion) in the year ended December 2024 from $8.25 million (Sh1.1 billion) a year earlier amid higher occupancy. Kofisi said occupation rates across its offices averaged above 90 percent in the review period.
Kenya accounted for $7.6 million (Sh987.8 million), or 74.4 percent, of the company’s 2024 revenue. It also operates in Nigeria, Tanzania, South Africa and Morocco.