Eastside Ventures backs Mamae Foods with $100k to boost African FMCG

Through its subsidiary Ghost Partners Fund, Eastside Ventures has made a strategic $100,000 investment in Mamae Foods, a fast-growing player in Africa’s food and spice sector.

This partnership marks a significant leap forward in the food sector, where the fusion of tradition and culinary creativity will redefine how African flavours elevate meals.

Mamae Foods, born from a passion for authentic African cuisine, is quickly establishing itself as a beacon of quality, creating ingredients that elevate home cooking into a flavorful experience. By focusing on locally sourced, high-quality ingredients across Africa, Mamae Foods plans to elevate the standards and introduce more varieties of African spices to a global audience.

The African spice industry, despite its rich agricultural potential, accounts for only a fraction of the global spice market, valued at approximately $12 billion annually. Yet, Africa contributes to only 10% of the world's spice production, with significant room for growth.

Mamae Foods is stepping up to change this narrative. With plans to produce 20 tonnes per day and launch new product line extensions within the first four years, the company is gearing up to meet the soaring demand for its products.

The co-founders of Mamae Foods, a team of forward-thinking entrepreneurs including Okoli Christian Ugochukwu “Brain”, Osadebe Obinwanne Chukwuanugo (Anugo Osadebe), Ihenacho Ikechukwu Bennert "Michael EI", and Adaobi Stacy Obieze are committed to bringing the rich, diverse flavours of Africa from the farm to your kitchen. Their shared vision: to take Africa’s diverse flavours from local farms to kitchens worldwide.

Gaius Chibueze, known as “the Bitcoin Chief” and founder of Eastside Ventures, is no stranger to disruptive investments. His backing of Mamae Foods reflects his commitment to businesses that blend creativity with economic potential.

“At Eastside Ventures, we believe in supporting ventures that show promise and contribute to broader economic empowerment,” he said. “Mamae Foods exemplifies this vision, and we are excited to be part of their journey.”

With this investment, Mamae Foods will distribute its range of spices and blends including Mamae Jollof Rice Spice Mix, Mamae Pepper Soup Spice Mix, Mamae Masala Curry, Mamae Native Spice Blend, and Mamae All Purpose Spice Mix. It will also expand its product offerings, introducing a wider variety of African snacks. This expansion sets to enhance the brand’s reputation as a leader in innovation and quality within the African FMCG market.

With continued backing from Eastside Ventures, Mamae Foods is not just expanding its reach but also enhancing its reputation as a brand dedicated to quality and innovation through its vibrant array of products that celebrate African flavors and elevate dining experiences.

To place an order or become a distributor for Mamae Foods, contact: 08153140312, or visit http://linktr.ee/mamaefoodltd/

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