This funding comes at a time when the company is undergoing a significant restructuring, including a reduction of its workforce by nearly 40%.

Twiga CEO and Co-Founder Peter Njonjo stated that the funding round is the culmination of a strategic transformation that has enhanced the company’s cost efficiency and improved service delivery to its customers.

“We have made significant progress in streamlining our operations and optimizing our cost structure without compromising the quality of our services,” he said.

Njonjo acknowledged the impact of the workforce reduction, expressing gratitude to both current and departing employees for their contributions to Twiga’s success.

He explained that the restructuring was necessary to align the company’s staffing levels with its current business needs and ensure long-term sustainability.

The funding secured by Twiga will support the company’s ongoing operations and enable it to adapt to the dynamic market conditions.

Njonjo emphasized the company’s commitment to providing affordable goods and services to its customers despite the challenging economic environment.

Twiga’s recent moves reflect the resilience and adaptability of the agritech sector in the face of global economic shifts.

The company’s focus on cost optimization and service improvement highlights its determination to remain one of the leading players in the Kenyan agribusiness landscape.