- The Kenyan agriculture start-up Twiga Foods was founded in 2014. Encouraged by its success, it started expanding its presence in East Africa and launched its operations in Uganda earlier this year.
The Kenyan agriculture start-up Twiga Foods was founded in 2014. Encouraged by its success, it started expanding its presence in East Africa and launched its operations in Uganda earlier this year. Now it is in an expansion mode into other parts of Africa.
The firm last year raised Sh5.56 billion from international investors to fund its East and West African expansion including equity and loan deals from international investors such as the International Finance Corporation.
Currently, the company is looking at Cote d’Ivoire and the Democratic Republic of the Congo (DRC) as its passage into the Central and West African markets in the next two years. This was announced by Yebeltal Getachew, Head of Twiga Foods East Africa at recent launch of the Twiga Foods Last Mile Distribution Expansion Project. The project will see the firm lease up to 300 Isuzu trucks to facilitate faster delivery of fresh food products.
The perishable nature of agricultural products is a major constraint for producers. High transport and input costs and lack of timely deliveries affect the exports. The objective of Twiga Foods is to connect producers to consumers and eliminate the number of middlemen. It has more than 140,000 vendors, covering about 12,000 kilometres daily and handles more than 2 million kilos of products daily.
Also read;
https://trendsnafrica.com/nigerian-start-ups-attract-fdi-worth-1-6-billion-in-2021/
https://trendsnafrica.com/kenya-seeks-abolition-of-tax-on-avocado/
