Twiga Foods Ltd. (DFC-2018-TWIGAFOODSLTD)

Countries
  • Kenya
Where the impacts of the investment may be experienced.
Financial Institutions
  • US International Development Finance Corporation (DFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Twiga Foods Ltd.
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ DFC website

Updated in EWS Jun 27, 2020


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Project Description

This Project concerns support for the expansion of a fresh produce distributor in Kenya, through the purchase of new transport and storage equipment. The Project Company operates a platform for the purchase of fresh produce from local farmers,  for sale to local markets, and through this position, delivers these goods to market. The vast majority of fresh produce in Kenya is sold through an inefficient, informal network of brokers and middlemen, resulting in high amounts of waste and high prices for endconsumers. Twiga is the first company in Kenya to aggregate demand for and supply of produce onto a single technology platform while providing the logistical movement of those goods as a service. For small farmers, this means guaranteed offtake and better visibility of expected earnings prior to harvest. Urban vendors access a diversified product basket and an improved quality product that is conveniently delivered to their stalls at no charge. By reducing food wastage, Twiga helps lower food prices and improve food security.

Investment Description
  • US International Development Finance Corporation (DFC)
Contact Information

No contact information provided at the time of disclosure