KENYA – Kenya’s Twiga Foods, a prominent B2B food distribution company, has revealed alterations in its top leadership as CEO Peter Njonjo embarks on a 6-month sabbatical leave.
The board expresses full confidence in the capable senior leadership team during Njonjo’s absence, emphasizing gratitude for his commitment in concluding Twiga’s recent funding round.
“The board supports Peter’s decision to take a sabbatical and has full confidence in the capabilities of Twiga’s senior leadership team,” said Hein Pretorius, Chairman of Twiga.
“On behalf of the board, I thank Peter for his demonstrated commitment in ensuring the completion of Twiga’s recent funding round.”
Njonjo, who commenced as CEO in 2019, primarily focusing on banana distribution, expressed the need for a break after a demanding 2023 to address personal matters.
During Njonjo’s absence, Laurent Gouault, Twiga’s Chief Operating Officer, and Zuber Momoniat, Chief Financial Officer, will lead operational and commercial as well as finance and legal functions, respectively. Despite Njonjo’s leave, he will remain on the company’s board of directors.
Founded in 2014, Twiga Foods specializes in B2B food distribution, employing technology to cultivate markets for agricultural producers and retailers.
The company has encountered notable success in funding rounds, including a Series A funding of USD10.3 million in 2017, an additional USD10 million in November 2018, and USD34.75 million across two rounds in 2019.
Twiga faced recent challenges, including layoffs affecting 33% of its workforce and the consolidation of distribution centers in Nairobi, relocating operations to a larger warehouse.
The Agritech firm also received a liquidation notice but successfully obtained a court order blocking the liquidation notice issued by Incentro Africa Limited.
According to them, the liquidation petition was motivated by an ulterior motive. It was filed in retaliation after Twiga reached out directly to Google Ireland, the ultimate provider of cloud services, to protest the way the billing account was entered, structured, and managed.
The head of legal at the agri-tech firm, Daniel Ngugi, stated that the demand was flawed as it had been presented prematurely.
Nonetheless, despite these adjustments, the company recently secured undisclosed funding from investors such as Creadev and Juven, aligning with Twiga’s long-term growth strategies.
Hein Pretorius, Twiga’s Chairman, highlighted the organizational adjustments as pivotal for refining operational processes and fostering resource mobilization, ensuring sustained business resilience.
“The substantial investment in technology and automation has enabled several initiatives,” Pretorius noted, emphasizing Twiga’s commitment to digitizing the informal retail economy and revolutionizing African food supply chains.
CEO Peter Njonjo reiterated that the recent funding signifies a transformative phase, enhancing cost efficiency and bolstering customer service, thanking stakeholders for their unwavering support during this period of evolution.
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