What Happens When Nigerian Coffee Bar Gets a New Loan

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A new Nigerian coffee start up has opened up in Lagos – all because of a new Lagos loan initiative!

“Nigerians drink coffee, but just not actively,” says Adeyinka Tekena owner of Nigeria’s Happy Coffee – and she hopes to change all that!

Adeyinka Tekena has been in the business since 2015. She started with a mobile stand and claims she was the first coffee company to sell coffee at a Nigerian wedding. Now, her coffee shop is on the mainland and sells clothes and snacks.

“Nigeria is now growing its own coffee beans, so there is a huge opportunity that we as a people can tap into,” says Adeyinka Tekena, owner of Happy Coffee in Lagos. “The coffee beans we use are from Nigeria, and that’s our speciality. And the more we buy from the farmer, the more he can grow, and we can build an economy from that.”

However, as Adeyinka Tekena explains – money and finance can be a big challenge to a new business. Then at the start of the year she applied to the Lagos State Employment Trust Fund. She admits she was skeptical, but in two weeks she had an interview with Lagos state.

“For me, the funds that I got, took my business to another level,” says Adeyinka Tekena. “The loan allowed me to get to the next level. We needed to increase our capacity and by equipment.”

The Lagos State in Nigeria is setting up a new fund to to tackle unemployment in Africa’s biggest Mega-City.

The aim of LSETF is not just to grant loans to potential businesses, but to build capacity and ensure they are running sustainable businesses that obey the law. The Lagos state government believes, when a business meets these requirements, they give themselves the best opportunity to grow sustainably. 

“The most important thing is about impact. We want to ensure that businesses have the right tools to succeed and grow, and therefore employ people,” explains Akin Oyebode, the Executive Secretary of the Lagos State Employment Trust Fund.

You can find out how to get loans to fund your made in Nigeria products and other business by the Lagos State Employment Trust Fund. Visit their website or office to learn about the requirement to bring your MADE IN NIGERIA business/idea to reality.

You can also be part of the initiative by going to any of your local Lagos councils, or head to www.lseft.ng

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