Pride of Africa Trade Cash and Carry founders Olusegun and Oyetola Akande
A couple say they have set up the first one-stop African trade cash and carry in the UK that is exclusively black-owned – despite adversity. Birmimgham entrepreneurs Olusegun and Oyetola Akande said they’re ‘excited’ to serve the city.
Their new warehouse business – Pride of Africa Trade Cash and Carry – is based in New John Street West, Lozells. The pair hope it will be a hub for African and Caribbean cuisine enthusiasts after its official launch on Saturday, April 13.
It will offer a wide range of spices, seasoning, sauces, grains, beverages, fish, meat, poultry, palm oil, cooking oil and snacks – sourced directly from Africa. Mr and Mrs Akande told how their journey has been far from plain sailing.
Entrepreneurs from the black community still face funding hurdles from the bank, according to reports. Mr Akande said: “We were only able to secure a loan covering about 10 per cent of our budget at a throat-cutting rate, plus commission and fees, so we had to re-think our business model.
“The banks made it very difficult for us. The majority was self-funded and we asset-financed some of the equipment.”
A report showed that a staggering 88 per cent of black-owned start-ups surveyed said they’d self-funded their business idea without a loan or help from family and friends. Black-owned companies are reportedly four times less likely to apply for funding to help fund their business initially.
The UK’s small business landscape remains overwhelmingly white. However, the couple’s desire to serve their community drove them to succeed.
Mrs Akande added: “It doesn’t surprise me. We’re a company run by Africans, for Africans. We go the extra mile directly to the source and we only sell quality products.
“Our new store is not just a place to shop for groceries but a destination where customers can explore and experience the rich and diverse culinary heritage of Africa. We’re excited to expand our presence and bring our unique offerings to the vibrant community of Birmingham and across the UK.”
Mr and Mrs Akande, both chemical engineers with a passion for food, have already seen previous success in Birmingham. The pair launched their Pride of Africa product line after noticing a lack of original African-Caribbean ingredients to buy in the UK.
Mr Akande is also the director of Samis Online and Mrs Akande owns restaurant Empress Bar and Grill.
Author: Linda .R. Jones
Senior Writer
London,UK