Kenyan businesswoman Margaret Nyamumbo made an interesting pitch at the American investment TV show ‘Shark Tank’ and walked away with a cool Ksh44 million.
Margaret, the founder and CEO of Kahawa 1893 – a firm that exports coffee from Africa to America, appeared on the TV show seeking investment in her company from wealthy American business tycoons who feature in the show.
The Kenyan woman made her pitch to four business moguls Mark Cuban, Emma Grede, Robert Herjavec, Kevin O’Leary and Lori Greiner to buy a percentage of her business.
While making her pitch, Margaret briefly narrated her journey to the US, revealing that she grew up on her grandfather’s farm in Kenya before winning a scholarship to Harvard University.
The Kenyan woman said the whole village had to raise funds to help her travel to the US and study as her family couldn’t afford on their own.
She graduated from Harvard and later worked at Wall Street before founding her coffee company in 2017.
Margaret, who currently lives in New York, told the ‘sharks’ (the four business moguls) that her business makes over $1 million in sales yearly.
She told the sharks that she was seeking $350,000/Ksh44 million) for a five per cent stake in her company.
After heated bargaining and business talks, one of the sharks in this case Emma Grede agreed to give her $350,000 but convinced Margaret to give an eight per cent stake in the business instead.
In her reaction, the Kenyan woman took to Twitter to celebrate the business deal.
“We did it! We got a deal,” she tweeted.
We did it! We got a deal 🦈 pic.twitter.com/lkGDkOdO98
— Margaret Nyamumbo (@maggycoffee) February 19, 2023
