President William Ruto has pledged that the government will avail Ksh. 300 million to Twiga Foods’ customers and suppliers, which they will take as credit.
Speaking after the opening of the Twiga Foods Distribution Facility at Tatu City in Ruiru, the president said the facility will help customers take up loans with an interest rate of 8 per cent per year, and shun the current credit facility, which they repay with an interest of 1 per cent per day.
“The Sh300 million that you lend to your 140 suppliers and customers across Kenya. We are going to make that amount of money available to you so that they can be able to borrow at lower interest rates and hopefully increase their earnings,” said president Ruto.
“That Sh300 million CS Chelugui make sure that the customers of Twiga have access to Hustler Fund and instead of them borrowing at 1 per cent per day, they should be able to borrow at 8 per cent per year,”
The head of state was full of praise for Twiga Foods, acknowledging them for their innovative way of accommodating people of all economic classes using technology and offering job opportunities to many Kenyans.
“Using its mobile app ‘Soko Yetu’, Twiga congregates over 140 hustlers, kiosk operators and mama mbogas countrywide. Technology enables Twiga to process many orders, handling over 2 million Kgs daily and ensuring same-day or next-day delivery,” he said.
On developing the economy, president Ruto said that his government remains committed to fostering economic growth while exuding his commitment to providing enabling platforms for Kenyan business people, especially in the agriculture sector.
“We are working with our farmers, we have the most hardworking farmers than anywhere in the world,” said Ruto.
“Progressively through aggregation and agro-processing, we will continue to provide facilities and work with other development partners to make sure we create the best possible opportunity for us to grow our country and economy,”
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