Why Entrepreneurship? The Inspiring Journey of Afamefuna and Speedmeals
Afamefuna’s entrepreneurial journey began from a place of necessity and personal loss. After the passing of his father, and with the responsibility of nine siblings resting on his shoulders alongside an unemployed mother, Afamefuna decided to take charge of his future by venturing into entrepreneurship.
From Humble Beginnings to Business Expansion
Starting in 2012, Afamefuna learned the art of baking and initially catered to his church community, creating cakes for Sunday school children. Encouraged by positive feedback, he soon began receiving orders for birthday cakes and other celebratory treats, which laid the foundation for his business.
Evolution of Speedmeals
Today, Speedmeals has grown beyond a bakery to encompass a diverse range of services under its umbrella. It manufactures spices and offers comprehensive hospitality solutions, including restaurant and hotel setup, event catering, culinary training, and consultancy for start-up catering enterprises aiming to scale.
Impact: Jobs Created and Revenue Growth
Before his participation in the Tony Elumelu Foundation (TEF) Entrepreneurship Programme, Afamefuna operated with just an idea and no employees. Thanks to the support received, he now employs a dedicated team of 75-80 individuals.
Receiving a TEF seed capital of US $5,000 was pivotal in establishing Speedmeals’ first store. Today, the company boasts an impressive annual revenue of £100,000,000, illustrating significant growth and sustainability in the competitive food industry.
Overcoming Challenges and Seizing Opportunities
The COVID-19 pandemic posed challenges for many businesses, but for Speedmeals, it became a catalyst for innovation. Diversifying into meal kit production allowed the business to adapt and thrive during uncertain times, demonstrating resilience and foresight in business strategy.
Milestones and Recognition
Speedmeals’ success story includes recognition through strategic partnerships, such as the Foundation’s collaboration with the Nigerian Export Promotion Council (NEPC). Through the Export Expansion Facility Programme (EEFP), Speedmeals has tapped into a £400 million initiative aimed at enhancing the performance of TEF Entrepreneurs within Nigeria’s non-oil export sector.
Join Speedmeals on their Journey
Witness firsthand how Afamefuna’s entrepreneurial spirit and strategic decisions have propelled Speedmeals to become a leading player in Africa’s food industry. Stay updated on their achievements and explore opportunities to collaborate or learn from their journey. Watch the Video below;