DOB Equity, the family office of the de Rickje family, has reportedly taken a minority stake in Twiga Foods, a mobile-based supply platform for retail outlets, kiosks and market stalls in Kenya. Financial terms of the deal were not disclosed. The capital will be used to help Twiga expand its supply capacity, increasing their market reach to over 7,000 vendors in Nairobi selling to 1.5 million low and middle-income customers.
Vendors buy fruit and vegetables from Twiga using their mobile phones, who then deliver the ordered produce supplies directly to the retailers’ stalls. By leapfrogging traditional supply chains, the company reduces costs, optimizes just-in-time delivery, thereby minimizing waste. The company, which was started in 2013, began by supplying bananas and has since broadened its offering to include tomatoes and onions. It has plans to expand its offering further.
DOB Equity’s CEO, Brigit van Dijk-van de Reijt was quoted as saying “Improving delivery networks and reducing the cost of food are extremely important in Kenya, where families spend up to half their income on food…Ultimately, by improving the food delivery chains, Twiga Foods will raise food security on the continent and will help unlock the urban African consumables market which is approaching $1 trillion in annual value.”