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Browsing: Twiga foods
The richest person in the world Elon Musk, who completed a US$44 billion acquisition of Twitter last month, has now purged roughly half of Twitter’s 7,500 employee base.
The areas of Twitter impacted the most by Musk’s cuts include its product trust and safety, policy, communications, tweet curation, ethical AI, data science, research, machine learning, social good, accessibility, and even certain core engineering teams, according to The Verge.
Meta is also laying off 13 per cent of its staff, or more than 11,000 employees, CEO Mark Zuckerberg announced.
Is this a new wave sweeping across the tech industry the world over? Because it has reached Kenya too.
Twiga Foods is downsizing its workforce in measures that will see those remaining lose some of the benefits that they have been enjoying, with effect from November 30, 2022.
According to the company’s website, …
- Kenya’s Twiga Foods has launched Twiga Fresh, a new subsidiary that will grow the company’s range of private label products
- The business-to-business e-commerce company said it has invested $10 million into the company, to scale the production of domestic horticultural staples like onions, tomatoes and watermelons
- Twiga Foods CEO and co-founder Peter Ndegwa said Twiga Fresh will be funded through debt in partnership with Development Financial Institutions in the long term
Twiga Foods has announced the launch of Twiga Fresh, a new subsidiary that is focused on modern and commercial farming, to help supply informal retailers and urban consumers with lower cost, better quality, and safe food.
The Kenyan-based business-to-business e-commerce company said it has invested $10 million into the company, to scale the production of domestic horticultural staples like onions, tomatoes, and watermelons, significantly lowering the cost.
The investment in Kenya will make this one of the largest single …
- The firm launched in February 2021 in Nairobi and has reported significant growth over the past year
- Challenges including unpredictable prices of farm produce and a lack of working capital often plague small restaurants and food vendors across the continent
- The startup aims to make it convenient for local restaurants and food vendors to easily restock and ensure smooth continuity of operations
Finding stock for a restaurant can prove a daunting challenge at times, especially given how unpredictable the market for fresh produce can be.
This is a challenge faced by many restaurants not only globally but in Africa as well.
Not too long ago KFC in Kenya said it was unable to offer fries (chips) as the global fast-food chain was unable to import its preferred pre-sliced potatoes from Egypt.
This led to a public outcry across the East African nation as consumers could not fathom how the restaurant …
Twiga Food, the Kenyan company which is increasingly getting the attention of key global investors has attributed the growth to the manner it incorporates staff in partial ownership of the company that drives growth.
The company CEO and co-founder Peter Njonjo spoke at Dubai during the Global Business Forum Africa 2019 where African businesses are pitching their ideas to Emirati investors.
Njonjo noted that currently there are 8 people in management who receive stock options and expressed his hope that during their next round of raising capital, they want to increase this number of staff to 30 people.
“Empowering your employees to be entrepreneurs within the business is imperative to its success,” added Njonjo.
When asked what made him leave the comfort of a multinational company to venture into the world of entrepreneurship, Njonjo replied: “It got to a point where there were a good number of investors who were …
When Twiga Foods set up shop in Kenya in 2014, the agricultural food distribution and sales were in anarchy.
The process was marred with losses and farmers could barely get value for the agricultural commodities they produced. The government systems were not active as well.
Five years later, Twiga has been building Kenya’s only end-to-end distribution for fresh and processed food, sourcing from more than 17,000 producers and delivering 3 times a week on average to over 8,000 retailers. Twiga’s digital platform and logistics network link retailers with farmers and food manufacturers, presenting a convenient and reliable alternative to the current inefficient and expensive farm/factory-to-market processes.
Twiga operates a mobile-based, cashless platform to aggregate urban retail demand, offering thousands of small and medium-sized vendors convenient one-stop-shop ordering. Retailers have access to lower-cost, higher-quality fresh produce and processed food, conveniently and reliably delivered to their doorstep within 18 hours of ordering. …
French evergreen investment firm, Creadev, has announced a secondary investment of USD5 million in Twiga Foods, a Kenyan-based technology based B2B platform.
The global long-term investment firm is wholly funded by the Mulliez family. The Mulliez Family is one of the richest in the world with a networth of USD37.5 billion.
For Kshs500 million, the family has acquired an undisclosed stake of Twiga Foods through Creadev.
Early investors in Twiga Foods have partially sold their stake as part of a strategy to accommodate the later stage and longer-term investors.
Adolf H. Lundin Charitable Foundation, Blue Haven Ventures, Crescat Limited, Omidyar Networks, Index Ventures through Project Hand Purpose Trust, and Uqalo have all sold some of their stakes.
Twiga Foods aggregates retail demand and efficiently provides low-cost access to better quality food.
Twiga Foods investors
Early this month, Twiga Foods signed an agreement with World Bank Group member IFC to boost …
Just months after receiving a major financing boost from the IFC, Twiga Foods has again signed an agreement with the World Bank Group member to boost the company’s food safety practices.
Twiga Foods, a Kenyan-based technology food distribution platform, is improving its food safety practices in line with global standards. It also seeks to ensure the traceability of produce from the farm to consumers.
The introduction will also help with food safety and quality management in Kenya while creating food quality assurance jobs in Kenya.
The initiative marks a rare move to apply global quality certification to food products destined for the domestic, rather than the export market. Kenya fruits and vegetables exporters focus on markets outside the country especially the EU and now others are seeking how to import from China to Kenya especially for equipment to help with processing their produce.
Twiga Foods uses mobile phone technology to …