Twiga Foods, the Kenya B2B agritech startup, has announced plans invest $10 million in a Twiga Fresh, a new subsidiary that is focused on modern and commercial farming. The money will be sourced via debt in partnership with Development Financial Institutions, focused on primary agriculture and food security.
The aim of Twiga Foods is the production of domestic horticultural staples like onions, tomatoes and watermelons.
To launch the Twiga Fresh line of products, the company intends to sample one million Kilograms of fresh produce to customers under a 21-day promotion that commences on the 23rd of May 2022.
According to Twiga Foods, produce will be delivered at no cost to the door of every retailer who participates across the sixteen cities and towns the firm operates in Kenya. This will also help boost working capital in their businesses.
“We will continue to run the B2B e-commerce business under Twiga, focused on building a one-stop supply-chain solution for informal retailers, delivering both Twiga and non-Twiga owned products. Twiga Fresh, in addition to our growing range of private label products, will ensure we drive growth in customer numbers and broaden the basket size by offering quality produce at a discount against prevailing market prices,” said Peter Njonjo, CEO and Co-Founder of Twiga.
“The commodity-driven volatility in the world today is causing an unprecedented level of food inflation across the world. In Africa, we can least afford this disruption, and that is why we are excited about the imminent impact our technology-enabled supply chain will have in reducing the cost of food,” he added.
