Kenya: IFC completes $30mln investment in Twiga Foods
Friday, 30 October 2020 16:01
The International Monetary Fund (IFC) approved the disbursement of $30 million in favor of Kenyan company Twiga Foods, under its Global SME finance facility.
The resources are granted in the form of a guarantee and will be provided through Kenyan commercial banks, and partners of the financial institution dedicated to the private sector. The Kenya Commercial Bank will lead this first transaction for the benefit of Twiga Foods.
The company, co-founded in Nairobi in 2014 by Peter Njonjo and Grant Brooke, plans to support and finance nearly 300 Kenyan farmers to ensure a consistent level of fruit and vegetable production for food retail and commercial businesses.
It should be noted that the IFC, a member institution of the World Bank Group, has already participated in several fundraising initiatives in favor of this food distribution platform.
Chamberline Moko
Live News
-
Niger Tightens Firearms Regulations Amid Rising Security Threats
20:52
-
Chad Seeks to Cut Fuel Imports with Algeria Refinery Deal
20:48
-
South Africa Plans $121 Billion Rail Overhaul to Revive Declining Network
20:32
-
Africa Re Posts 50.62% Rise in 2025 Net Profit to $199 Million
20:12
-
Ahmed Rostom’s Wuilt Simplifies Online Business Creation Across Africa
17:55
-
Botswana Tech Fund Debuts $67.5 Million Vehicle for Southern African Startups
17:54
-
Burkina Faso Prioritizes Tech Sovereignty in Talks with Italian Investors
17:52
-
IT Specialist Mohammed Ouahabi Disrupts Algerian Healthcare with Nafsia
17:50
-
Cameroon Commissions First Private Solar Mini-grid Under Energy Compact
14:35
-
Togo sets up national lab to enforce food safety standards
13:49
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mobile phones have become essential tools for work, education, payments and staying connected across...
Ecobank Transnational Incorporated asked shareholders to vote on a $500 million Tier 2 Eurobond...
Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...
Funding part of $250 million raise to boost investor confidence Fintech expands services, pr...
Niger adopts draft decree to regulate firearm acquisition, possession, and use New framework introduces stricter controls, traceability requirements,...
Chad and Algeria sign agreement to study a 20,000 bpd refinery project Chad continues to import large volumes of refined products despite crude output...
South Africa plans to invest $121 billion in rail modernization by 2050. Freight demand exceeds current rail capacity by over 100 million tonnes...
Nigeria increases local solar panel manufacturing capacity from 120 MW to 300 MW. Authorities target import substitution and rural electrification...
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...
Burkina Faso launches “SORA” university series filming in Ouagadougou 25-episode project explores student life challenges and...