Twiga Foods has raised new capital to fund the firm’s transformation and growth plans, anchored by Creadev and Juven, with participation from other existing shareholders.
Hein Pretorius, Twiga’s chairman, commented: “The company has undertaken a number of initiatives in the past year, enabled by significant investment in technology and automation, aimed at repositioning and fine-tuning operating processes, and enabling further resource mobilization to ensure the long-term resilience of the business. Looking ahead, Twiga will continue to progress its mission to digitize the informal retail economy and revolutionise food supply chains in Africa. We thank our investors, employees, suppliers, customers and other stakeholders for their continued support during this transformative period.”
Peter Njonjo, Twiga’s CEO and co-founder, added: “This funding round is the culmination of a transformation in Twiga’s approach and strategy, which has enhanced our cost efficiency and improved service delivery to our customers. I would like to thank all our current employees, and those employees who have departed the company following our organisational review, for their service and contributions to enabling Twiga’s success. I would also like to express my heartfelt gratitude to our senior team for their support through this journey; Laurent Gouault who joined us as Chief Operating Officer from Quickmart, Zuber Momoniat who joined us as Chief Financial Officer from PZ Cussons, Anjan Dasgupta who joined us as Chief Transformation Officer from Yousef Abdul Latif Jameel Group, Paul Bombo our Chief Technology Officer, and Susan Kiama our Chief People Officer. Let us seize this opportunity to cement Twiga’s position as a trusted partner, and create a positive and lasting impact in our industry.”
Twiga is a technology company for Africa’s retail ecosystem, powering end-to-end distribution of FMCG and fresh produce to its over 100,000 registered B2B retail customers, and enabling access to financial services, digital goods & services and data to its customers and suppliers.
Creadev Africa is part of Creadev, the global investment firm controlled by the Mulliez family, founders of one of the largest B2C retail platforms in the world (Auchan, Decathlon, Leroy Merlin). Since 2002, Creadev has invested over $1.9 billion from venture to growth equity and buyout. With offices in Paris, Nairobi, New York, and Shanghai, Creadev invests in companies well positioned to scale and become worldwide champions in their respective sectors.
Juven is an evergreen investment company, conceived by the former Africa principal investing team of Goldman Sachs. Juven leverages flexible capital, high-touch strategic and operational support, and on-the-ground and international networks, to build category-defining businesses pursuing the largest addressable markets in Africa.