This archive report was first published on 28 October 2019.
On October 28, 2019, Twiga Foods, a Kenyan food distribution firm, announced a $30 million investment from lenders and investors led by Goldman Sachs. The funding will enable the company to expand its reach beyond Nairobi and into West Africa.
Twiga Foods aims to establish a distribution centre in Nairobi, which will offer supply chain services for both agricultural and fast-moving consumer goods. The centre will be equipped to handle both agricultural and fast-moving consumer goods, providing a comprehensive supply chain solution for quality produce in urban areas.
According to Twiga CEO Peter Njonjo, the company is eyeing French West Africa, citing significant opportunities in the region. "We’re working on French West Africa…we see significant opportunity in those markets," Njonjo told TechCrunch.
Twiga Foods has already made significant strides in Kenya, operating collection centres across the country, a central packhouse with cold storage facilities, and a large fleet of mobilized trucks and vans for swift collection and distribution of produce. The company has achieved a remarkable 5% post-harvest loss rate, compared to 30% at informal markets.
With the new funding, Twiga Foods is poised to expand its operations into West Africa, linking farmers and vendors to fair, trusted, modern markets.
