Kenyan Startup Twiga Foods Enters Administration After Financial Strain
Twiga Foods, one of Kenya's most heavily funded startups, has entered administration following years of financial pressure and restructuring efforts.
AfroEuropa Newsroom
AfroEuropa desk
Twiga Foods, one of Kenya's most heavily funded startups, has entered administration after a prolonged period of financial pressure and attempts to restructure its operations, TechCabal reported.
According to a gazette notice published on September 11, GT Flow Limited, previously known as Twiga Foods One Limited, entered administration on August 17. Mohamed Mohamed was appointed as administrator and has assumed control of the company's business, assets and affairs. Under the arrangement, directors can no longer deal with company assets without his explicit permission. TechCabal cited the notice as stating that the administrator takes over the management of the company's affairs without personal liability.
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