Twiga Foods CEO, Peter Njonjo, transferred 20,000 acres of land allocated to him by the administration of President William Ruto in Kenya’s Galana-Kulalu scheme to his private company, Selu Limited. While Njonjo had initially mentioned that the land would be developed by Latin American and US firms, official company registry records indicate that Selu Limited is owned solely by Njonjo.
The transfer of the land, which was allocated for an agricultural project, has raised concerns about transparency and potential conflicts of interest. Twiga Foods, an agri-tech firm, is currently facing challenges with investor and public confidence as it implements cost-cutting measures despite raising significant funding. Njonjo confirmed the layoffs of staff members and attributed the firm’s challenges to funding constraints.
Opinion:
The revelation of the land transfer raises questions about transparency, ethical considerations, and the potential for conflicts of interest. The situation underscores the importance of accountability and clear governance in business operations, especially when public resources or allocations are involved. Twiga Foods’ challenges and actions may impact its reputation and credibility, potentially affecting its ability to attract investors and partners in the future. For sustainable growth and trust, companies need to adhere to ethical practices, communicate transparently with stakeholders, and ensure that decisions align with their stated values and objectives. The case also highlights the need for regulatory oversight to prevent such situations and ensure fair and responsible business conduct.