Twiga foods is set to receive $3 million (Ksh300 million) from The International Finance Corporation (IFC).
Acting for its own account says its considering to invest a minimum of US$ 3 million (Sh300 million) alongside other investors, including TLCom who will invest up to US$ 4 million (Sh400 million) in the company.
Launched in 2014, Twiga is a mobile-based supply platform for Africa’s retail outlets, kiosks, and market stalls, with over 2600 vendors and 92 per cent customer acquisition. The firm plans to use the funds to scale up its operations and introduce new offerings such as credit services.
“The project will enhance integration of different stakeholders in the agricultural value chain working towards increasing farmer productivity. In addition, the project could increase access to new services (for example credit) by reducing informality and demonstrating that farmers can be reached in a commercially sustainable way through technology.” IFC said.