Finding an impactful way to celebrate your history is an accomplishment on its own. However, it’s only just the start of Margaret Nyamumbo’s wins.
As previously reported by AfoTech, the Kenya native is the founder of Kahawa 1893. The coffee brand’s mission is to pay homage to Kenya’s coffee history and support African women farmers.
In 2021, Kahawa 1893 became the first Black-owned and Black woman-owned coffee brand in Trader Joe’s. Now, the company has crossed off yet another monumental achievement.
On season 14, episode 14 of ABC’s “Shark Tank,” Nyamumbo made an appearance to pitch Kahawa 1893 to the investors. The founder shared that she was seeking $350,000 for five percent of her company.
“Us Kenyans, we’re very proud of the coffee that grows on our soil. But there’s a catch. The farmers don’t always make enough for the delicious coffee that they produce,” she explained to the Sharks. “In fact, 90 percent of the labor in coffee comes from women, but so many are not compensated because they don’t own the land. That’s why I created a new way to compensate the coffee farmers.”
Along with her pitch, Nyamumbo stated that Kahawa 1893 raked in $2 million in 2022 and matched the $10,000 in tips for her team of women coffee producers. According to the company’s website, 100 percent of the tips go to those women and they match to “double the impact.”
After having four Sharks interested in joining forces with Nyamumbo, she ended up walking away with a deal with Emma Grede of $350,000 for eight percent in equity. Initially, it was for 12.5 percent but she was able to counter it.
We did it! We got a deal 🦈 pic.twitter.com/lkGDkOdO98
— Margaret Nyamumbo (@maggycoffee) February 19, 2023
What’s more, Nyamumbo announced that Kahawa 1893 had generated $1.3 million (at the time of the episode’s filming) and hoped to finish 2023 at $4 million and 2024 at $10 million.