Kenyan Entrepreneur Gets Sh.44M Investment From Shark Tank
Coffee entrepreneur and founder of Kahawa 1893, Margaret Nyamumbo, secured a Sh44 million investment from an investor at an American TV show, Shark Tank.
Appearing on season 14 episode 14 of Shark Tank, Nyamumbo, a New York-based Kenyan, was seeking $350,000 for 5% of her Kahawa 1893 coffee company.
Nyamumbo narrated how she grew up on her grandfather’s coffee farm in Kenya and noticed how 90% of women provided labor but didn’t own any of the lands they worked on, a move that inspired her to own a company in a bid to compensate the women.
She, therefore, not only sells Kenyan coffee through her business but also gives back to the female farmers who are behind those special coffee beans.
Her coffee packets come with a QR scan code, from where customers can send rewards or tips to the female farmers.
Her backstory and sales impressed all the sharks so much that by the end, four of them were willing to do business with her.
In the end, British businesswoman, co-founder, and CEO of Good American Emma Grede partnered with her for 8% equity.
Nyamumbo and Kahawa 1893 join a number of other coffee companies that have sought financial backing via the television show such as Misto Box and Third Wave Water.
BY NKATHA WAINAINA
Tags: Shark Tank Kahawa 1893 Margaret Nyamumbo
