Afrigather Twiga Meals, the Kenyan e-commerce startup embroiled in authorized battles with a cloud supplier in early 2024, will lay off 59 staff because it restructures its enterprise. That is the second spherical of job cuts at Twiga, which laid off 283 folks in August 2023.
“These modifications are essential as Twiga accelerates in the direction of profitability and continues its mission of revolutionising meals distribution in Africa by way of progressive digital options,” the corporate stated in a press release confirming the layoffs.
Twiga Meals can even open 25 new roles within the development and innovation departments.
In a dramatic yr for Twiga, cloud supplier Incentro dragged it to courtroom in 2024 for failing to pay a $261,000 cloud invoice. It supplied a glimpse into the startup’s struggles to pay distributors and employees, exposing money movement points. In March, founder and CEO Peter Njonjo left the enterprise after it secured new funding, prompting hypothesis that he might have been pushed out.
Njonjo was changed by Charles Ballard, an ex-Jumia govt, in Might 2024.
“These changes will permit us to enhance our service providing and lay a stronger basis for sustainable development within the years to come back,” stated Ballard.
In November 2023, Twiga raised $35 million in convertible bonds from new and current buyers like Creadev and Juven. Njonjo invested $1 million of his private funds in that spherical.
Have you ever received your early-bird tickets to the Moonshot Convention? Click on this hyperlink to seize ’em and take a look at our fast-growing record of audio system coming to the convention!
