“If you are running an asset-light business, you're running an asset-light business on top of lack of infrastructure. And then what ends up happening is that there will be no efficiency. And when there is no efficiency, you will end up just plowing through a pile of capital and end up with a business that's really not sustainable,” Peter Njonjo Twiga Foods CEO and Co-Founder.
In 2019, after 18 years, Peter left his high-powered job at Coca-Cola, where he led operations in 33 African countries, to become CEO of Twiga Foods, the B2B food and consumer goods company that he co-founded with Grant Brooke.
In sub-Saharan Africa, a region where more than 250 million people suffer from hunger, food losses are estimated to be worth $4B a year. For context, wiping out extreme hunger in Africa could cost just $5B. Twiga is a pioneer in fixing this problem: organizing the entire food and consumer goods chains, from collection to storage to distribution, and aggregating demand at the roadside.
In this episode, Peter shares about why he had to redefine his vision and broaden his addressable market, the real objective of meetings, and the best advice he ever received.