Twiga Foods (IFC-41195)

Countries
  • Kenya
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Twiga Foods Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 13, 2018

Disclosed by Bank Jun 19, 2018


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
Project Description

 IFC, acting for its own account and in its capacity as implementing entity of Private Sector Window of the Global Agriculture and Food Security Program (GAFSP), will invest a minimum of US$ 3 million alongside other investors including TLCom, who will invest up to US$ 4 million in the Company.

Launched in 2014, Twiga is a fast growing, mobile-based B2B m-commerce platform using technology to enhance supply chains by more effectively and rapidly consolidating highly fragmented supply & demand. Starting with the large target addressable mass-market Fresh Food and Vegetable (“FFV”) segment, Twiga more efficiently matches supply and demand between small-scale vendors and small-scale farmers. By cutting out multiple layers of middlemen, Twiga eliminates wastage and inefficiencies in the FFV value chain, ultimately resulting in lower food prices for mass market end-consumers.

Twiga offers stable, transparent prices and guaranteed offtake for farmers and convenience and reliability for small-scale vendors, e.g. street sellers and kiosks on the platform. Twiga started off with bananas, but has since grown to include other produce such as mangoes, potatoes, onions, tomatoes and cabbages and plans to onboard more products in the near future.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Grant Brooke (Co-Founder and CEO)

Twiga Foods Limited

9 Riverside Drive

Nairobi, Kenya

+254 746 793669

info@twigafoods.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works