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Twiga Foods: Case of wrong business model or just misplaced confidence?

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Twiga Foods Chief Executive Peter Njonjo. [Courtesy]

Perhaps out of public demand, and the half-truths being spewed on Twitter, Twiga Foods Chief Executive Peter Njonjo saw it fit to set the record straight.

At a press briefing in Nairobi last week, Mr Njonjo dispelled rumours that the agri-tech firm Twiga Foods is on the verge of going under amid the latest round of layoffs of more than 200 employees. It is the second layoff in just under a year amid declining purchasing power among its customers and a slowdown in venture capital funding.

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