New York based Kenyan Margaret Nyamumbo receives Ksh44 million Investment
Kenyan Margaret Nyamumbo gets a massive investment of sh44 million on her coffe company from US investors
Kenyan entrepreneur Margaret Nyamumbo who is based in New York City has received an investment of a massive Sh44 million for her coffee company.
She is the founder and CEO of Kahawa 1893, a firm that exports African coffee to the United States.
The entrepreneur appeared on Shark Tank a reality TV show and convinced one of the judges to buy 5 per cent of Kahawa 1893.
Shark Tank is an American reality show where up and coming entrepreneurs from around the world pitch their business models to a panel of investors and persuade them to invest money in their ideas.
She told the panel which included Mark Cuban, Emma Grede, Robert Herjavec, Kevin O’Leary and Lori Greiner that she is all about sharing the wealth.
Emma Grede tried to convince Ms Nyamumbo to take the $350,000 she was seeking but for an 8 per cent stake in the business.
Nyamundo said she wanted to use Kahawa 1893, a coffee company she founded in 2018, to tell the stories of women of the Gusii highlands of southwestern Kenya, where she was born and raised.
She said she wanted to highlight the fact that most of the labor that goes into the small farms that produce one of the world’s most valuable crop comes from women, but most of the proceeds go to men and other owners of land.
“I grew up on my grandfather’s coffee farm in Kenya. We are very proud of the coffee that grows on our soil; unfortunately, farmers don’t always make enough for the delicious coffee that they produce.” She said.