Kenya's Twiga raises $50M to scale food solutions across Africa
Summary
But in 2019, the company began to connect FMCGs and manufacturers with retailers in Kenya in a bid to increase revenue, thereby dipping its hands into a space with regional players such as Sokowatch and MarketForce. But we’re looking at having large commercial farms integrated into our supply chain.” Njonjo says Twiga is investing in a proof of concept to develop an alternative way of producing food on the continent and cover both ends of traceability and mass scale. But the pandemic and resulting lockdowns stalled those plans, yet Twiga made good use of the situation and quadrupled its revenues within that time — from April last year to August 2021. It is currently working with development finance partners to figure out how to scale its proof of concept, where it will act as an off-taker to sell horticultural crops from February 2022 across East Africa. So, we want to consolidate our dominant position, clear out our proof of concept and expand to the neighboring countries,” remarked Njonjo, who founded the company with ex-CEO Grante Brooke.