Twiga Foods (IFC-41195)

Countries
  • Kenya
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
Bank Risk Rating
B
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 Limited
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)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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
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
  • International Finance Corporation (IFC)
Contact Information

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/