Pride of Africa Trade Cash and Carry is the first one-stop African trade cash and carry in the United Kingdom.
Cash and carry refers to goods sold through a wholesale warehouse on a self-service or sample basis.
Olusegun Akande is the founder and director of Samis Online, an Afro-Caribbean retail and e-commerce food business.
Olusegun and his wife, Oyetola, launched the business in 2009 after noticing a lack of original Afro-Caribbean ingredients to buy in the UK.
The success of the cash and carry business led the entrepreneur to create his line of products, including seasonings, rice, flour, and beans, under the brands Pride of Africa and Old Africa.
Pride of Africa Foods invites the local business community to celebrate the grand opening of its new store on Saturday, the 13 April.
The couple is part of a growing number of Black entrepreneurs in the UK who had to rethink their business model when they could only secure a loan covering about 10% of their budget.
A staggering 88% of black-owned start-ups self-funded their business idea without a business loan or help from family and friends. Only 43% of business owners trust banks to have their best interests in mind.
The UK’s small business landscape is overwhelmingly white, and inequality continues to cause an economic divide. However, black entrepreneurs are primarily motivated by social aspirations.
Olusegun says that the new store is not just a place to shop for groceries but a destination where customers can explore and experience Africa’s rich and diverse culinary heritage.
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