A startup food-distribution company based in Kenya is getting help from the U.S. International Development Finance Corporation (DFC) as the company makes more food available for Kenyans while reducing waste. The DFC brings private-sector investment to developing countries. It recently announced a $5 million loan to Twiga Foods Ltd. The company, which just received its first disbursement of the loan, buys fresh produce from 17,000 farmers and processed food from manufacturers and then delivers it to 8,000 vendors, most of whom are women. The DFC loan will help Twiga secure additional trucks and delivery vans as well as cold-storage equipment to move more food to market.
DFC’s priority areas of investment include energy, health care, critical infrastructure, technology and financing for small businesses and women entrepreneurs. With an active portfolio of roughly $29 billion, DFC offers financing from $1 million to $1 billion. It focuses on investment in Africa, Eastern Europe, Eurasia, the Indo-Pacific, Latin America, the Middle East and North Africa.
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