Twiga Foods Invests in a New Farming Business KES 1.16 Billion

Twiga Foods, an agricultural business in Kenya, has invested KES 1.16 Billion in a new subsidiary that is intended to diversify its product offerings.

Twiga Foods

The company acquired a 650-acre piece of land in Taita Taveta where it plans to set up a farm for tomatoes, watermelons, and onions.

Twiga Foods is famed for its innovative and modern farming techniques that boost production. In the recent past, the company has been diversifying into new product lines including private label products such as sugar, salt, snacks, cooking oil, maize flour, and rice.

The new subsidiary, known as Twiga Fresh, will help the company to broaden its market base and increase revenue for the firm.

Twiga Foods CEO Peter Njonjo said, “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.”

Twiga seeks to disrupt the food supply chain in Kenya by eliminating middlemen and connecting directly with consumers through small-scale retailers. As such, the firm hopes to receive funding from development financial institutions as it focuses on boosting agricultural production and food security.

Twiga Foods was able to implement diversification as its growth strategy through funding from international investors in 2021. Some of the popular foreign investors with stake in the company include OP Finnfund Global, Creadev, and Endeavour Catalyst Fund.

The agri-tech firm also uses a low-pricing strategy to attract low-income earners and small businesses that operate on small margins.

With the new investment in Twiga Fresh, the firm is poised to dominate the horticulture industry and increase its earnings potential for the long term.

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