Tech in Africa
Twiga Foods, the disruptive agricultural supply chain startup in East Africa has set its sights on the rest of the African continent. The company intends to venture into Uganda, Rwanda, Tanzania, Ghana, and Nigeria.
According to the Business Daily, Stephen Ananda, Twiga’s Chief Growth Officer attributes this expansion to the need to access low-cost high-quality food products across African cities. The company is opening another presence in Nakuru. Twiga already operates in Kirinyaga, Embu, Kiambu, Machakos, and Uasin Gishu counties, an indication of its growing presence outside Nairobi.
Twiga Foods run a phone-based platform selling bananas and other products from small scale farmers to the market vendors. Thus far the company has raised billion of shillings in loans and equity deals from international investors such as the International Finance Corporation (IFC).
The company operates on a model of giving farmers higher prices for their produce while delivering the commodities to consumers within 24 hours. Twiga currently accommodates over 13,000 farmers and 6,000 vendors who pay 20 to 40 percent more than the farmers and brokerage groups and deliver payment within 24 hours through mobile transactions. This ensures farmers benefit from predictable income streams and sound financial planning.
