Discovering an impactful way to commemorate your history is an accomplishment in and of itself. Yet, Margaret Nyamumbo’s victories are only getting started.
The Kenyan native founded Kahawa 1893. The coffee brand’s purpose is to honor Kenya’s coffee legacy while also supporting African women producers.
In 2021, Kahawa 1893 became Trader Joe’s first Black-owned and Black woman-owned coffee brand. The organization has now completed yet another monumental feat.
Nyamumbo appeared on season 14, episode 14 of ABC’s “Shark Tank” to present Kahawa 1893 to the investors. The founder stated that she was looking financing $350,000 for 5% 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.”
Nyamumbo mentioned in her pitch that Kahawa 1893 made $2 million in 2022 and matched the $10,000 in tips for her team of female coffee producers. According to the company’s website, all tips are directed to those women, and they match to “double the impact.”
After four Sharks expressed interest in partnering with Nyamumbo, she ended up walking away with a $350,000 contract with Emma Grede for 8% equity. It was originally for 12.5 percent, but she was able to dispute it.
We did it! We got a deal 🦈 pic.twitter.com/lkGDkOdO98
— Margaret Nyamumbo (@maggycoffee) February 19, 2023
Furthermore, Nyamumbo stated that Kahawa 1893 had earned $1.3 million (at the time of the episode’s recording) and that he intended to conclude 2023 with $4 million and 2024 with $10 million.