Twiga Foods strengthens its finances with renewed support from the IFC ($15m)
The Nairobi-based start-up has secured a risk sharing arrangement with the international agency, which participated in several rounds of its fund-raising back in 2018 and 2019.
22/10/2020 at 12h55, by Valentin Grille
The financial guarantees provided will be disbursed in several phases via Kenyan banks, says the Washington-based institution. For the first phase, the country’s leading bank, Kenya Commercial Bank, will play the role of financial intermediary. For this tranche alongside KCB, the International Finance Corporation (IFC) is planning to fund in the region of $7.5m, to cover an exposure of $15m.
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