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HomeWealthTwiga Foods: First Company To Receive Ksh 300 Million Hustler Fund

Twiga Foods: First Company To Receive Ksh 300 Million Hustler Fund

Start-up company, Twiga Foods, CEO Peter Njonjo has spoken on Ksh 300 million funding from President William Ruto’s Hustler Fund.

Speaking during the opening of the company’s distribution facility, the Head of State was inspired by its innovation story and directed the ministries of Trade and Cooperatives to give Twiga Foods Ksh 300 million from the Hustler Fund.

In a recent interview, Njonjo said the funding will go a long way in solving challenges that smallholder farmers face.

“Mobilising farmers, building their capacity and developing local infrastructure is a public money-driven initiative. It is not an easy problem to solve with private money

“For us, providing an efficient supply chain to the informal retailer such as ‘mama mboga’, kiosk owner, and the shopkeeper was where we felt we could play,” Njonjo told Business Daily.

The CEO also discussed the recent restructuring at Twiga Foods, arguing that he needed to handle the same with a strategic latitude.

“At the same time, we need to go to the farm level to talk to the producer to understand their challenges and why it is not possible to get the yields we need to lower market prices,” Njonjo said.

As earlier reported on WoK, Twiga Foods has laid off a number of its staff and reduced allowances of those remaining as it changes its operations into an agency model for its sales team.

The company transitioned all its trade development representatives to agents.

At the same time, Twiga Foods cut its staff per diem to KSh 1,000 up from KSh 4,000 with a single room bed and breakfast accommodation also provided.

“As a result of this transition to the agent model, your employment with Twiga will terminate on November 30, 2022. We invite you to transition into a new relationship with Twiga as an agent effective November 1, 2022,” read a notice to the staff.

The company added that members of the sales team who will not accept to work as agents will be allowed not to work during the one-month notice period to enable them to seek alternative engagements.

Twiga Foods also limited its employees’ travel allowances in the restructuring plan. 

“The travel allowance will include all costs related to the movement of the employee in her/his personal vehicle to attend to the business of the company. Executives will identify employees in their team, whose jobs fit the criteria for a travel allowance,” said the firm.