Daniel Ngungi, head of legal and administration at Twiga Foods, left the business days after TechCabal reported that Peter Njonjo, the creator and CEO, resigned from Twiga’s board. Ngungi validated his departure in a LinkedIn post on Monday.
“The 4th of January 2024 significant my last day at Twiga Foods, a company that was my home for a years, 8 years of which were on a full-time basis,” the post read.
Ngungi’s departure comes in the middle of what seems a takeover of Twiga by its financiers, causing the ultimate exit of Peter Njonjo, its previous CEO, validating speculation that he was displaced of the business.
Yebeltal Getachew, who led Twiga’s East Africa service, likewise left the business in December.
TechCabal reported that cash-strapped Twiga raised $35 million in convertible bonds from Creadev and Juven, 2 of its existing financiers, to pay 100 suppliers it owed. TechCabal discovered that at least one supplier stated they were not paid or alerted of a payment strategy regardless of the business’s claim that it informed around 100 suppliers. Last December, a Kenyan court in Nairobi offered Twiga Foods 4 months to fix its financial obligations with Incentro, a Google Cloud reseller.
At the heart of the suit lies a $3 million cloud service agreement Twiga signed with Incentro, back when the leaving Head of Legal was still with the business. Twiga apparently fell back on regular monthly payments, leading Incentro to require over $450,000, consisting of accumulated interest and what they declare to be missed out on perk payments from Google due to Twiga’s postponed sign-offs.
Twiga contests the quantity owed, questioning the agreement information and declaring Incentro’s claim is inspired by ulterior intentions. They’ve likewise participated in talks with Google Ireland straight relating to the cloud service costs.
Since December 5, 2023, both celebrations missed out on a court due date to reconcile their billings, and the next hearing is set up for March 13, 2024.