US based Kenyan entrepreneur Margaret Nyamumbo, who went viral following her admirable pitch on the popular TV show Shark Tank, has secured a partnership with one of the investors.
In the viral video which did rounds on the internet, Nyamumbo was seen seeking a Sh44 million (350,000 USD) for a 5 percent stake of her Kahawa 1893 coffee company.
Nyamumbo has today confirmed that she has won a partnership with British businesswoman, co-founder, and CEO of Good American Emma Grede.
“We did it! We got a deal. Emma! I am so excited to partner with the incredible @emmagrede to grow Kahawa and bring our mission to millions of women in the world! Let’s go,” she wrote on Twitter.
- Advertisement -
Grede, 40, is the first Black woman to serve as an investor on the show, boasting of a net worth of Sh 44.9 billion ($360 million).
Grede offered to invest for an 8 percent in Nyamumbo’s company. According to the Kenyan entrepreneur the investment will enable her to make sure everyone in the coffee production chain especially women are paid.
“Farmers don’t always make enough for the delicious coffee that they produce. In fact, 90 percent of the labour and coffee come from women but so many are not compensated because they do not own the land,” she said.
“We source our coffee directly from women farmers in Africa, but that’s not all, we go one step further, our customers can tip the coffee farmers and we match the tips.”
A number of Kenyans heaped praise on Nyamumbo congratulating her for her win.
