Twiga Meals invests $10M in business farming subsidiary, Twiga Recent
Twiga Meals CEO, Peter Njonjo has introduced that the B2B E-Commerce firm, Twiga Meals, has launched Twiga Recent, a brand new subsidiary that is concentrated on trendy and business farming, to assist provide casual retailers and concrete shoppers with decrease value, higher high quality, and protected meals.
By way of the USD10M funding, Twiga Recent will scale the environment friendly manufacturing of home horticultural staples like onions, tomatoes, and watermelons, considerably reducing the associated fee.
The funding in Kenya will make this one of many largest single horticultural farms in Africa, targeted purely on the home market.
Twiga Recent in the long run might be funded via debt in partnership with Growth Monetary Establishments, targeted on main agriculture and meals safety.
For particular worth chains which can be regionally nicely established and environment friendly, like bananas, Twiga Meals will proceed to work with smallholder farmers in addressing the problem of meals safety.
“We are going to proceed to run the B2B e-commerce enterprise underneath Twiga, targeted on constructing a one-stop supply-chain answer for casual retailers, delivering each Twiga and non-Twiga owned merchandise. Twiga Recent, along with our rising vary of personal label merchandise, will guarantee we drive progress in buyer numbers and broaden the basket dimension by providing high quality produce at a reduction towards prevailing market costs,” stated Peter Njonjo, CEO and Co-Founding father of Twiga.
“The commodity-driven volatility on this planet right now is inflicting an unprecedented stage of meals inflation worldwide. In Africa, we will least afford this disruption, and that’s the reason we’re excited in regards to the imminent impression our technology-enabled provide chain could have in decreasing the price of meals,” he added.
To launch the Twiga Recent line of merchandise, the corporate shall pattern a million Kilograms of recent produce to prospects underneath our 21-day promotion “Bidhaa Freshi na Safi” that commences on Might 23, 2022.
Past Kenya, Twiga plans to begin operations in Uganda and Tanzania quickly and can be exploring new markets in Central and West Africa.