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Twiga Foods Secures New Funding Amidst Refinancing Plans to Settle Overdue Payments to 100+ Suppliers

Twiga Foods Secures New Funding Amidst Refinancing Plans to Settle Overdue Payments to 100+ Suppliers

#finance
#agriculture
#finance
#food
#agribusiness
#AgriTech
#Food
#funding
In a strategic move following a recent debt collection lawsuit, Twiga Foods, the Kenyan platform linking farmers to food vendors, secures undisclosed funding from investors, signaling a positive turn in its business refinancing efforts. The company, led by CEO Peter Njonjo, aims to settle long outstanding dues with over 100 suppliers, demonstrating a commitment to restructuring amidst legal challenges. 🌱💼

Twiga Foods has successfully secured undisclosed funding as part of its business refinancing strategy, just weeks after facing a debt collection lawsuit. The funding, provided by investors including Creadev and TLcom Capital Partners, is set to facilitate the settlement of overdue payments to more than 100 suppliers. This development comes after Twiga initially disputed the debt claim but later engaged in talks with the cloud services vendor, Incentro Africa, to reach a resolution. The move reflects Twiga's commitment to restructuring and maintaining its reputation in the agricultural tech sector. 🚜💰 


#FundingNews #SupplierPayments #AgriTechBusiness


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