Twiga The Food Distribution Company That Has Secured Ksh 300 Million Hustler Fund

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Twiga is a technology-driven company founded in 2014, that connects consumers, vendors and suppliers, providing access to high quality foods, products and retail services in Africa. The company works to disrupt the traditional supply chain, ensuring food safety and quality control through the use of technology.

The company isn’t just about providing access to high-quality foods, it also uses its platform to support sustainable agriculture, helping farmers access better resources and knowledge in order to increase their yields and profits.

Retailers can shop on for produce 24/7 through their web app or via our toll-free call center.

The products are then delivered and according to twiga, their trucks cover 12,000 Kms every day handling over 2M Kgs of assorted products daily.

The company has 140,000 vendors and works with over one thousand farmers with its services available across 12 cities in Africa.

Twiga has just secured Ksh 300 million from the Kenyan government’s Hustler Fund, a Ksh50 billion annual kitty set to commence on December 1, 2022. The funds, which are available to individuals, groups, small enterprises and co-operatives will be offered at a one-digit interest rate of 8% per annum.

President William Ruto made the announcement on Monday during the opening of the Twiga Foods distribution facility at Tatu City in Kiambu County.

“The Sh300 million that you lend to your 140,000 suppliers and customers across Kenya, we are going to make that amount of money available to you so that they can borrow at lower rates and hopefully increase their earnings,” said Ruto.

He directed the Cooperatives Cabinet Secretary Simon Chelugui to ensure that Twiga Foods gets part of the Sh50 billion Hustler Fund set to be launched on Thursday, to be advanced to about 140,000 suppliers.

“That Sh300 million, CS Chelugui, make sure that the customers of Twiga have access to the Hustler Fund and instead of them borrowing at one per cent per day, they should be able to borrow at eight per cent per year,” the President added.

Initial communications were that the loans would range from a minimum of Ksh500 to a maximum of Ksh50,000. President William Ruto would later on Wednesday clarify that the Ksh50,000 maximum was set for individual borrowers and that other categories would have a higher limit.

farmer in a rice field
Farmer In Rice Field Image by Inno Joseph from Pixabay

Twiga is set to become one of the biggest food distributors in Africa, helping drive economic development across the continent and bringing much needed access to high-quality goods. With the help of the Hustler Fund, their operations are expected to grow even further, bringing more benefits to the farmers, suppliers and customers.

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

Twiga has raised more than $100 million in both debt and equity financing rounds since its inception in 2014.

In November 2021, the company announced a $50 million Series C round to scale its efforts in Kenya and other neighboring countries.

This was after the company’s $30 million Series B round — $23.75 million equity and $6.25 million debt — in 2019.

Twiga is a revolutionary company that is transforming the African food landscape, bringing access to high quality foods and products, while also driving sustainable agriculture.

It has recently set its sights on the West African market and plans to become a pan-African powerhouse, expanding its reach and impact even further.

The recent securing of Ksh 300 million from the Kenyan government’s Hustler Fund is set to further accelerate their growth and benefit more farmers, suppliers and customers.

The Twiga team is made up of dedicated professionals who strive to bring their vision to life. The Co-Founder and CEO of Twiga, Peter Njonjo leads this effort to transform African retail.

Prior to founding Twiga, Peter was President of the Coca-Cola West Africa business unit, previously working as the General Manager for their East Africa franchise. In addition to an MBA in Strategic Management and a degree in International Business Administration, Peter is also a Certified Public Accountant.

Others on the team are Susan Kiama, previously the Chief Human Resource Officer for Safaricom, the Head of Human Resources for Citibank in Kenya and a Principal Consultant with Deloitte.

Yebeltal Getachew who before joining Twiga, worked as the Managing Director and Vice President of Coca-Cola Nigeria, and as the Customer and Commercial Director of Coca-Cola West Africa. 

Mahia-John Mahiaini, who was previously an Associate Director at Lloyds Banking Group in London and an Investment Manager at DOB Equity leading investments into businesses across East Africa.

Gerald
Geraldhttps://news.safaritravelplus.com
As a writer, I have a passion for exploring a variety of topics. When I'm not putting pen to paper, I enjoy traveling and spending time with my family. As a husband and father, I understand the importance of balance and finding time for the things I love. Whether I'm delving into new subjects or spending quality time with my loved ones.

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