NIGERIA - Nigerian spice manufacturer Mamae Foods has received a US$100,000 investment from Eastside Ventures, through its subsidiary Ghost Partners Fund.

Founded in 2023, Mamae Foods is part of the broader movement within the Fast-Moving Consumer Goods (FMCG) sector that seeks to bring innovation in flavors and formats closer to the local market. 

The investment will support the company’s plans to scale production and introduce new products, tapping into the rising demand for locally sourced and affordable spice blends.

The growth of Mamae Foods has been fueled by the increasing trend among Nigerian consumers to use spices and flavors to elevate meals amidst financial pressure. As inflation and economic constraints force households to switch or downgrade products, there is a growing reliance on versatile, affordable ingredients that can enhance home-cooked meals.

Expanding product line and manufacturing capacity

Mamae Foods currently offers a range of spice blends, including Jollof Rice Spice Mix, Pepper Soup Spice Mix, Masala Curry, Native Spice Blend, and All Purpose Spice Mix. 

The startup focuses on using locally sourced ingredients to ensure authenticity and freshness, aiming to deliver a taste of Africa to kitchens both locally and globally.

With the new investment, the company plans to increase its manufacturing capacity to 20 tonnes per day, a significant leap that will allow it to meet the growing demand for its products. 

The funds will also support the development of new product extensions and the introduction of a wider variety of African snacks. By expanding its offerings, Mamae Foods seeks to cement its position as an innovative player in the African FMCG sector.

Vision for African flavors on the global stage

Mamae Foods’ co-founders—Okoli Christian Ugochukwu “Brain,” Osadebe Obinwanne Chukwuanugo (Anugo Osadebe), Ihenacho Ikechukwu Bennert "Michael EI," and Adaobi Stacy Obieze—are united in their vision of bringing Africa’s rich and diverse flavors to the global market. 

Their shared mission is to elevate African cuisine by producing high-quality, locally sourced spice blends that celebrate the continent’s agricultural potential.

Despite Africa’s rich agricultural landscape, the continent currently accounts for only 10% of the global spice market, which is valued at approximately US$12 billion annually. Mamae Foods aims to change that narrative by scaling production and introducing African spices to new markets, both within Africa and beyond.

Strategic investment from Eastside Ventures

Gaius Chibueze, also known as “the Bitcoin Chief,” and founder of Eastside Ventures, has a reputation for investing in disruptive businesses with high potential for economic impact. His investment in Mamae Foods depicts his belief in the startup’s ability to blend creativity with economic empowerment.

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