The Multiplier Effect in Action
The multiplier effect is a phenomenon in which the success of one entrepreneur leads to the success of other entrepreneurs. This can happen in a number of ways. For example, a successful entrepreneur may invest in other startups, mentor other entrepreneurs, or simply inspire other people to start their own businesses.
The multiplier effect is particularly important in startup ecosystems. Startup ecosystems are communities of entrepreneurs, investors, and other stakeholders who work together to support the growth of new businesses. When successful entrepreneurs give back to their communities, they help to create a more supportive and collaborative environment for everyone.
"From revolutionizing the food supply chain in Africa to inspiring agriculture tech founders across the continent"
Kenyan founder Peter Njonjo went from working at The Coca-Cola Company for two decades to tackling food supply chain market issues in his home country. In 2014, he created Twiga Foods, a B2B ecommerce marketplace that lets farmers and retailers more efficiently connect in a fairly-priced digital marketplace. Farmers can more easily get reliable buyers for their produce and retailers can get it delivered to their doorstep within a day.
Twiga joined our Endeavor community in 2017, and has scaled quickly since. Peter’s company was selected as an Endeavor Outlier, one of the top performing companies at Endeavor, for the past three years in a row. He also received an investment from Endeavor Catalyst after a recent Series C round in which the company raised no less than $50 million, making Twiga one of Africa’s best-funded tech startups to date.
Twiga is targeting a pan-African expansion to East African markets like Uganda and Tanzania.
Peter’s Multiplier Effect
Peter’s impact goes beyond the 1,800 jobs he’s created at Twiga. He’s mentored more than 20 other founders on their entrepreneurial journeys and directly invested in five startups. More than half a dozen of his former employees have also started their own businesses.
He sits on the Endeavor Kenya board and serves as a board member at The Jim McFie Education Fund and the American Business Council in Nigeria. He is also a member of the Africa Leadership Network (ALN) and Young Presidents’ Organization.
“Peter is the embodiment of the Multiplier Effect,” says Maryanne Ochola, Managing Director at Endeavor Kenya. “[He] has taken on leadership and board positions to contribute to the growth of the whole ecosystem, pointing further to his determination to see those that come after him succeed.”
In 2022, Peter was nominated for the Business Insider Africa award “Internet Entrepreneur of the Year,” the same year Twiga Foods was selected as one of Time Magazine’s Most Influential Companies around the world.