Kenyan agri-tech firm Twiga Foods has recently faced challenges, including speculations of a downhill path and redundancy notices to over 250 employees.
- Despite attracting more than Sh23.2 billion in funding and government support, the company’s current turbulence has raised concerns in the tech industry.
- In an interview, CEO Peter Njonjo discussed how Twiga Foods is adapting to market changes and emphasized that restructuring is part of the strategy to outlast competitors.
- The company is going through a process of redundancies, with a third of its permanent workforce expected to be affected.
- Twiga Foods aims to reduce operational costs by about 40% and has invested in technology to optimize truck routes and warehouse operations, improving efficiency.
- The ongoing restructuring may last for two to three months, and while it poses challenges, the company believes it will emerge stronger and remain in existence for a long time.
- Twiga Foods has a plan aligned with stakeholders and aims to achieve profitability and generate internal resources within the next 12 months.
Despite the ongoing restructuring and staff reductions, Twiga Foods remains committed to its long-term goals and is confident in its strategy to overcome the current challenges it faces in the market.