How a Nigerian Entrepreneur Is Cracking the Multi-Billion-Dollar Coconut Industry with Ebun Feludu

[00:00:00] You're listening to the Unlocking Africa podcast.

[00:00:04] Now we have 10 NAFDAQ certified products from food to personal care

[00:00:08] to even pharmaceuticals.

[00:00:09] Because the coconut is such a gift,

[00:00:12] you really can play across value chains like that.

[00:00:16] Lagos is the largest producer of coconuts in Nigeria.

[00:00:20] And Nigeria is the largest consumer of coconut products on the continent.

[00:00:24] And the truth is many businesses sort of face the same challenges.

[00:00:28] But how we respond to it is how we not just survive, but thrive.

[00:00:32] The trajectory is clear.

[00:00:34] This is a three hundred and ninety billion dollar business globally.

[00:00:40] Stay tuned as we bring you inspiring people

[00:00:43] who are unlocking Africa's economic potential.

[00:00:47] You're listening to the Unlocking Africa podcast

[00:00:51] with your host, Terser Adamu.

[00:00:54] Welcome to the Unlocking Africa podcast,

[00:00:57] where we find amazing people who are doing amazing things

[00:01:02] to unlock Africa's economic potential.

[00:01:05] Today, we have another special guest.

[00:01:08] We have Ebu Filudu, who is the founder, CEO of Kokari Coconut and Company,

[00:01:14] which is an integrated coconut processing company that serves the food,

[00:01:18] cosmetic and pharmaceutical markets in Nigeria and beyond.

[00:01:23] Welcome to the podcast. How are you?

[00:01:25] Thank you so much for having me, Terser.

[00:01:28] I am doing great and I'm excited to be here.

[00:01:31] I'm excited to have you on the podcast.

[00:01:34] It's a company which I've read a lot about, heard a lot about,

[00:01:38] and I'm looking forward to getting into the conversation.

[00:01:42] I'm not sure if you've listened to the podcast before,

[00:01:44] but I like to start from the beginning.

[00:01:46] So I was hoping you could introduce yourself and tell us a bit more about Ebu.

[00:01:52] OK, well, my name is Ebu Filudu,

[00:01:57] mother of two princes, happily married,

[00:02:01] like I say to the last prince of the Niger Delta.

[00:02:06] I also call myself the chief coconut cracker at Kokari Coconut and Company.

[00:02:11] And yeah, I have a long history with making things.

[00:02:17] Like, I love the journey of being able to create.

[00:02:20] I think that is like one of the gifts that God has given us all

[00:02:26] the ability to create.

[00:02:28] And I actually went into the coconut space

[00:02:32] because I was looking for a solution for my own challenge.

[00:02:35] It was lactose intolerance.

[00:02:38] 80% of Africans are lactose intolerant.

[00:02:40] Yes. And I'm one of them.

[00:02:42] Me too. Yeah, I had a really horrible reaction to milk in December 2015.

[00:02:48] And, you know, I decided then that, listen,

[00:02:51] I'm not going to keep going through this torture and this pain

[00:02:54] that comes with lactose intolerance.

[00:02:56] And so I started playing with coconut milk.

[00:02:59] And gradually it became something that we offered to guests who came visiting.

[00:03:05] And then it occurred to me that, listen, the coffee shops in Lagos

[00:03:08] may also need plant based milk for their clientele.

[00:03:12] And I approached Neo Cafe at the time.

[00:03:15] And they said, you know, absolutely, we do actually need the plant based milk.

[00:03:19] And that was like our first gig at Kokari.

[00:03:23] We were then called Jam the Coconut Food Company.

[00:03:25] We were branded last year to Kokari.

[00:03:26] And yeah, so started with coconut milk to Neo Cafe.

[00:03:30] And then now we have 10 NAFTAX certified products from food

[00:03:34] to personal care to even pharmaceuticals.

[00:03:37] So, yeah, that's our story.

[00:03:39] That's a story of me a little bit and a bit of Kokari as well.

[00:03:42] Fantastic. Thank you for sharing that.

[00:03:44] I love the name, the Chief Coconut Cracker, which is brilliant.

[00:03:49] Great branding. Well done.

[00:03:52] Thank you.

[00:03:52] As you mentioned, you have a long history of making

[00:03:55] and you also detailed what inspired you to start Kokari Coconuts.

[00:04:00] So I guess from your personal perspective,

[00:04:02] how has the journey been so far, you know,

[00:04:04] from starting in your kitchen to becoming a major player

[00:04:08] in the coconut processing industry in Nigeria?

[00:04:11] Ah, it's been patient.

[00:04:14] It's so funny, like we had an event at Kokari Cafe

[00:04:17] for Women's Day last weekend and we were talking about

[00:04:20] people who are born like myself on January 14th

[00:04:23] and how we're often sort of giving this double-ledged sword

[00:04:27] of a gift that is being able to do many things.

[00:04:31] And it took me a while to be able to get to that place of saying,

[00:04:34] OK, let's focus on one gift.

[00:04:37] And I'm glad that I did in 2016.

[00:04:41] I decided then that I was going to focus essentially on coconuts.

[00:04:46] And it's been, well, maybe not slow.

[00:04:49] It's been eight years, right?

[00:04:51] And a lot has happened in eight years.

[00:04:53] But if I went in with the same energies as I had done

[00:04:57] previous things, maybe I wouldn't have lasted this long.

[00:05:01] So it's been patient.

[00:05:03] It's been long and patient and but also very rewarding as well,

[00:05:08] because the joys of actually being able to create products for people

[00:05:13] from the time they wake up in the morning to the time they go to bed at night.

[00:05:16] All these products from what I call the world's number one superfood.

[00:05:20] It's been a joy to sort of share that delight

[00:05:24] with people and that solution with people.

[00:05:26] So, yeah, I hope that answers your question.

[00:05:30] No, perfect, perfect, perfect.

[00:05:32] As you mentioned, the journey has been patient

[00:05:35] and you've had a focus on one gift, which is coconuts.

[00:05:38] But you do have a focus on three distinct markets,

[00:05:41] which is food, cosmetics and pharmaceuticals.

[00:05:45] Is there a reason why you specifically targeted those markets?

[00:05:49] Well, like I said, once I got into sort of exploring

[00:05:54] what I could create from coconuts, I decided, listen,

[00:05:58] I want to be a master's master in this thing.

[00:06:00] And so I went off to the south of India

[00:06:03] and I had like an immersion program there.

[00:06:05] And I learned about the entire value chain.

[00:06:08] I worked on farms.

[00:06:09] I worked with people who were using the husks for different things.

[00:06:13] I worked with people who were using the shells

[00:06:14] to make activated charcoal and things like that.

[00:06:18] So that sort of broad spectrum was my baseline inspiration

[00:06:22] and then came back home to say, OK, so this is what is possible.

[00:06:26] And because the coconut is such a gift,

[00:06:30] you really can play a cross value chains like that.

[00:06:34] And the truth is, you earn more when you take more out of the coconut.

[00:06:39] Because the coconut is not a cheap raw material.

[00:06:42] It's pretty pricey.

[00:06:43] So when you get it and you are able to use every part of it,

[00:06:47] then you're able to earn a lot more revenue for the company

[00:06:51] and a lot more value to people.

[00:06:53] So I think that was like the driving inspiration.

[00:06:55] So it was from my immersion program in India.

[00:06:58] And then just obviously trying to see how we could make the best

[00:07:02] out of the raw material in our hands.

[00:07:05] Fantastic. Thank you for sharing that.

[00:07:07] So going back to your point in terms of the journey has been patient.

[00:07:10] So during this patient journey, what challenges have you faced

[00:07:14] trying to break into those markets, I guess,

[00:07:17] in the early days as a new entrant?

[00:07:21] We were very lucky, actually, as a new entrant, because,

[00:07:25] first of all, traditionally, coconuts are used

[00:07:27] as the first sort of oil that you bomb a baby with at a baby's birth.

[00:07:32] Right. So traditionally, even in Isaleku,

[00:07:36] a lot of the snacks are coconut snacks.

[00:07:38] Lagos is the largest producer of coconuts in Nigeria.

[00:07:43] And Nigeria is the largest consumer of coconut products on the continent.

[00:07:47] So that's there.

[00:07:49] But then there's also how the West also did a great job

[00:07:53] in promoting coconuts as a superfood.

[00:07:56] So that also sort of helped to

[00:08:00] get these products into the market and sort of have acceptance.

[00:08:04] But because there weren't many innovators, many players in the space,

[00:08:08] it was quite easy for us to sort of get mind share and market share,

[00:08:12] you know, at the time that we started.

[00:08:14] Yeah. Does that answer your question?

[00:08:16] Fantastic. It does.

[00:08:17] So as you said, there weren't many innovators within the space.

[00:08:21] So as a new entrant, he probably didn't face some of the challenges

[00:08:25] that you might have anticipated.

[00:08:27] But whilst doing my research and reading,

[00:08:30] I saw that you'd have faced one major challenge during your journey,

[00:08:34] which I believe you were on the brink of bankruptcy due to non-payment

[00:08:38] by a major customer.

[00:08:40] Absolutely. Who we shall leave unnamed.

[00:08:44] Of course.

[00:08:46] Of course. Yeah.

[00:08:47] So that was a challenge.

[00:08:49] So maybe that wasn't such a challenge in the beginning.

[00:08:52] It was more sort of in the later stages.

[00:08:55] And I guess other challenges were things like access to raw material,

[00:08:58] which, again, with every challenge that we faced, we created a solution.

[00:09:04] Actually, from the very beginning, I knew that we had to go into farming

[00:09:07] if we wanted this to be a long term concern.

[00:09:09] And so we started farming two years ago.

[00:09:12] And regarding the non-payment, we also created a solution

[00:09:16] by sort of designing our own distribution solution

[00:09:21] and also focusing a lot more on export.

[00:09:23] So that was sort of our response to that.

[00:09:25] But as a business person, when it comes to challenges,

[00:09:29] you know, when you're bitten by the bug of, hey, this looks like a great idea.

[00:09:33] I want to do this thing.

[00:09:35] All you see if you are sort of like a true entrepreneur,

[00:09:38] all you see is, you know, the path to greatness. Right?

[00:09:43] Not all the challenges in that moment.

[00:09:46] When you're bit by that bug, you probably wouldn't do it.

[00:09:49] You know, as a true entrepreneur, if you're optimistic,

[00:09:52] like myself, entrepreneur, you know, all you see is the path to gold.

[00:09:57] But truly, a business person will always face challenges.

[00:10:02] They'll always face challenges.

[00:10:03] And so for me, every challenge is just an opportunity to innovate.

[00:10:08] I've come to sort of embrace challenges in that way.

[00:10:11] This is an opportunity for growth and this is an opportunity to innovate.

[00:10:15] And that I've come to sort of develop that muscle over time,

[00:10:20] because that is the only way to thrive as a business person,

[00:10:25] because every time a challenge comes your way, you implode.

[00:10:28] You will not be able to survive in this terrain or any terrain.

[00:10:34] Yeah. So there are challenges. There will always be challenges.

[00:10:37] I mean, we generate our own power.

[00:10:40] This is true to every business.

[00:10:42] We generate our own electricity.

[00:10:44] Many times we have to supply your own water.

[00:10:46] This is true to every business. Right.

[00:10:48] Sometimes you have a high turnover of staff.

[00:10:51] Sometimes as a small business, you don't have the capacity

[00:10:56] to be able to hire the kind of staff who can deliver at the kind of level

[00:11:00] that you want and then you have to train and train and train.

[00:11:03] And so these are all sort of different challenges that come with business.

[00:11:07] But being a business, an entrepreneur means that you are creating solutions.

[00:11:12] You are innovating around every challenge.

[00:11:15] Yeah. And that's basically what we do.

[00:11:17] Fantastic. So you mentioned that as an entrepreneur,

[00:11:20] you're always optimistic and a challenge is an opportunity to innovate.

[00:11:24] So if we look at the challenges, are there any specific lessons

[00:11:28] that you learned from this experience that you've taken forward?

[00:11:31] I think it's probably what I've said, which is, you know,

[00:11:34] in that dark place, in that very challenging dark place,

[00:11:38] remember that there is a huge opportunity to leverage on.

[00:11:44] And the truth is, many businesses sort of face the same challenges.

[00:11:47] I'm not the only person that that particular client was going.

[00:11:51] But how we respond to it is really how we not just survive,

[00:11:55] but thrive, how we have leverage.

[00:11:57] So being able to quickly respond to that challenge

[00:12:01] meant that we had leverage.

[00:12:02] So I think that would I think would be the lesson when you

[00:12:06] as an entrepreneur, when you experience a challenge,

[00:12:10] embrace it as an opportunity to tinker with the situation

[00:12:14] and create leverage that will actually even make you

[00:12:18] do better than your competitors.

[00:12:20] Fantastic. So if we look at the innovations that came from the challenges,

[00:12:24] can you share more about the innovative solutions

[00:12:27] Kokari has developed to address some of the challenges

[00:12:30] within the agriculture value chain?

[00:12:34] One of the challenges, for instance, that I will speak to is the raw material.

[00:12:39] The demand when we started, the demand for coconuts wasn't that high.

[00:12:44] For the raw material, it wasn't as high as it is today.

[00:12:47] But we projected and we watched the trend

[00:12:51] and we knew that going by this trend,

[00:12:54] the price of the raw material is going to become so prohibitive

[00:12:57] as it becomes a bit difficult to produce.

[00:13:00] And so we very quickly began investing in primary production

[00:13:04] in the farming bit of the business.

[00:13:07] And we also designed a way so that

[00:13:11] because coconuts are so long term, you plant it,

[00:13:14] you're not going to harvest anything for at least five years.

[00:13:17] So we had to innovate around how do we make sure

[00:13:20] that this land is profitable even in the short term?

[00:13:23] And so we started to teach farmers how to intercrop with other crops

[00:13:26] that would benefit the coconut trees and also benefit the farmers.

[00:13:30] So that gives them revenue, you know, in the short term

[00:13:33] and also created a way to be able to offtake from those farmers.

[00:13:37] So that was one innovation to a challenge that we developed.

[00:13:41] Brilliant. So you mentioned you started investing in primary production of coconut.

[00:13:46] So in the initial stages, how did you go about forming relationships

[00:13:50] with farmers and investing in farms to strengthen this value chain?

[00:13:56] We started with a lot of help from people who were already in primary production.

[00:14:02] And what we did was we simply adopted a community

[00:14:05] and they're basically a community of farmers. Right.

[00:14:09] And so we showed them all the benefits in the value chain

[00:14:13] and basically started training and working with them that way.

[00:14:17] Brilliant, brilliant.

[00:14:18] So as you mentioned, I'm assuming a lot of work is done

[00:14:22] in educating and training the farmers in some of their modern

[00:14:27] agriculture technologies and techniques.

[00:14:30] Absolutely. And this is where I have to shout out to GIZ and the SASE program.

[00:14:36] They've been incredibly supportive of our work on the farm,

[00:14:40] being able to have more seedlings for farmers and setting up

[00:14:44] nurseries, you know, and things like that.

[00:14:46] They've been phenomenal in their support to us.

[00:14:49] So we have a lot we have support.

[00:14:53] So that's helped us along the way as well.

[00:14:56] Which I guess leads to my next question in terms of with the work

[00:14:59] that you're doing, you do operate within an ecosystem.

[00:15:02] So how key are partnerships with regards to the work that you're doing

[00:15:07] and what you're trying to achieve?

[00:15:10] Absolutely. I mean, we do a lot of impact work

[00:15:14] and we understand that we within the organization have limitations

[00:15:20] and we basically are in constant pursuit of partnerships

[00:15:24] that will aid our work because we will go a lot faster when we work together.

[00:15:28] And there are people out there who are looking for people like us

[00:15:31] that they can collaborate with to make even bigger impact.

[00:15:35] And so people like PFS, Partners in Food Solutions,

[00:15:38] their US based NGO, they've been incredibly supportive of our work.

[00:15:42] The SASE program under GIZ has been incredibly supportive of our work.

[00:15:47] GAIN has been very supportive of our work.

[00:15:50] They supported us to actually put a borehole on the farm,

[00:15:53] which was very critical to make sure that we had water on the farm

[00:15:56] all year round, not just in the rainy season.

[00:15:59] NAPC has supported us because they've recognized our brand

[00:16:03] and our products as an export ready product.

[00:16:06] And so they supported us with a grant to be able to get the products out there.

[00:16:11] And yeah, we've had a lot of support.

[00:16:14] And so those partnerships are key and they've launched us forward.

[00:16:18] You know, they've pushed us forward by one partnership

[00:16:21] could move us forward by five years,

[00:16:24] you know, as opposed to if we were trying to do this work on our own.

[00:16:26] So the partnerships are absolutely key and critical.

[00:16:30] And we couldn't be more grateful for the opportunities.

[00:16:32] Yeah, fantastic.

[00:16:34] So as you detailed, you are working with quite a number of development

[00:16:39] institutions and I guess from my experience,

[00:16:42] working with these organizations, sustainability is usually a key

[00:16:47] requirement or remit in terms of the delivery.

[00:16:50] So in terms of the work you're doing,

[00:16:53] what importance do you place in terms of sustainability

[00:16:57] in Kokari Coconut operations and the work that you're doing?

[00:17:01] I love the question.

[00:17:02] I'm actually a student of sustainable development practice at university.

[00:17:07] Oh, wow. Yeah.

[00:17:10] In one hat and the other hat, I also lecture

[00:17:13] on industry at the University of Ibadan as well.

[00:17:17] So it's key, right?

[00:17:20] I was having a conversation with,

[00:17:23] oh, I should have mentioned the Hershey company there,

[00:17:26] one of our partners and incredible supporters as well.

[00:17:29] I was in a session with them last week and what I was talking about

[00:17:32] the future of business and basically that balance

[00:17:37] between people and planet, you know, and businesses and economies.

[00:17:41] Now more than ever, you know, the generation

[00:17:45] that is coming into the market now, they are very clear

[00:17:50] about the kind of products they want to consume.

[00:17:52] If there is no sustainability in the organization, they will boycott.

[00:17:57] Right. And there's a significant number of them now that we need to pay attention.

[00:18:02] When I listen to my children, they tell me about, OK,

[00:18:05] and these are teenagers, right?

[00:18:07] How is this equipment affecting the planet?

[00:18:10] Are there other options that could be better suited to the planet?

[00:18:13] You know, things like that.

[00:18:14] If they're asking me those kind of questions now,

[00:18:16] when they have the Naira and dollars to spend,

[00:18:18] they will spend the Naira and dollars on those organizations

[00:18:22] who focus on sustainability.

[00:18:25] And then when we look at the work we do on the farm,

[00:18:27] our job with the farmers is to make sure that they learn

[00:18:31] the best practices for planting the coconuts.

[00:18:34] And then we offtake from them.

[00:18:36] So that is a wonderful balance between, you know,

[00:18:39] the community and the people and the enterprise.

[00:18:42] So sustain and also what we do with the coconuts.

[00:18:45] We make sure that we add value to every part.

[00:18:48] So there's zero waste in the nuts that come into our processing facilities.

[00:18:52] So we are ensconced by sustainability

[00:18:56] in sort of every part of our operations at Kokaria Coconuts and Company.

[00:19:01] It's very critical to us and it's very critical to the future.

[00:19:05] Fantastic. That's something I love to hear.

[00:19:07] Is there a delicate balance between meeting the sustainable goals

[00:19:12] that you have whilst trying to source coconuts

[00:19:16] of a high quality that meet the company's standards for processing?

[00:19:21] Or do the two kind of easily coexist?

[00:19:24] I think they do easily coexist because, like I said,

[00:19:27] processing the entire nut, that is in itself part of processing

[00:19:31] because you're putting zero waste into the environment.

[00:19:34] You're getting more out of one raw material than less,

[00:19:37] which means that sort of you're optimizing the processing there

[00:19:41] to be able to get a lot of resources that are useful for people.

[00:19:45] But also, because we work with farmers from the ground up,

[00:19:48] we're able to share those sustainability practices with them

[00:19:52] and make sure that we support them.

[00:19:54] We have a very strong entomology team.

[00:19:56] So we're able to support the farmers to produce healthy trees

[00:20:00] and have healthy sort of farming practices.

[00:20:03] And so, yeah, that's that's very helpful.

[00:20:06] So the farmers we work with are farm, you know,

[00:20:09] and the network that we have helps us to be able to have those good quality raw materials.

[00:20:15] Brilliant, brilliant.

[00:20:15] So if we look at sustainability in terms of the sustainable growth of the company,

[00:20:20] are there any specific strategies that you've used to maintain the competitiveness

[00:20:26] in the market while also ensuring there's a sustainable growth for Kokari coconuts?

[00:20:33] One of the strategies is to be responsive.

[00:20:36] We look at what people's needs are.

[00:20:38] We understand our customer is the conscious consumer.

[00:20:41] That's our customer.

[00:20:42] And then looking at the raw materials in our hands,

[00:20:45] how can we make it better for the consumer?

[00:20:48] So, for instance, we have a range of oils like the coconut lemon,

[00:20:52] coconut lemongrass, coconut lavender oils.

[00:20:54] All of those oils are a response to the feedback from the consumer

[00:20:59] who have said things like, oh, I know that I should use coconut oil for my skin.

[00:21:03] I know that it's safer for me because of breast cancer and all of that.

[00:21:07] But I don't want to smell like coconuts.

[00:21:09] And so we went into innovation to be able to respond to them.

[00:21:13] And it's been such a wonderful

[00:21:17] match in terms of solutions to the actual feedback of the customer.

[00:21:21] So, yeah, so we're constantly innovating

[00:21:23] to make sure that we meet the needs of that conscious consumer.

[00:21:28] Thank you for that.

[00:21:29] So as you mentioned, you're responsive to the consumer

[00:21:33] and that has been key to the company's growth.

[00:21:35] So with that growth, what markets are you currently operating or exporting to?

[00:21:42] So we're in Nigeria, we're in the US,

[00:21:45] we're in the UK, we're in Rwanda, we're in Kenya.

[00:21:49] And we're constantly looking for new markets to enter into

[00:21:53] and even take a bit more market share in those markets

[00:21:56] where we're in already.

[00:21:58] Fantastic. And I look forward to seeing you achieve that.

[00:22:01] So could you share some insights into, I guess, your international expansion strategy

[00:22:07] or some of the challenges or successes that you've had in entering new markets?

[00:22:12] Once again, I want to do a shout out to the Fiji Bank,

[00:22:16] who have now organized two international trade shows

[00:22:21] funded and supported by them, one in the UK in 2020

[00:22:25] and another in the US, Houston in 2023.

[00:22:29] And through those trade shows, we've been able to sort of get new buyers

[00:22:34] who we have had a really good relationship with.

[00:22:38] And that's aided our expansion plan.

[00:22:40] But it doesn't stop there.

[00:22:42] We also have reps in all of these countries

[00:22:44] who basically go and look for new markets for us as well.

[00:22:49] I guess a key component of expansion is access to capital.

[00:22:54] As a SME, how difficult has it been to access funding

[00:22:59] to scale your business and expand to new markets?

[00:23:04] Yeah, that's been that has been a challenge or an opportunity.

[00:23:11] But you know, this is always my sort of position, right?

[00:23:16] When there is a good product, money will come to it.

[00:23:19] So for instance, we had a purchase order

[00:23:22] come in at a time where we were dealing with several other orders.

[00:23:27] And so we didn't actually have the cash to process the order.

[00:23:31] But because it was such a clear order, we had a purchase order.

[00:23:34] It was signed.

[00:23:35] It was a solid document.

[00:23:36] We were able to get funding for it.

[00:23:38] So I concerned myself more with market access than funding,

[00:23:43] because I know that when the access to the market is established,

[00:23:47] the funds will come.

[00:23:49] So that's my approach to the funding.

[00:23:53] That's a great way to approach it.

[00:23:55] So I guess keeping on the theme of access to capital and cash,

[00:24:00] I know currently within several markets, we're seeing

[00:24:04] devaluation of currency and shortage of foreign exchange.

[00:24:10] You're headquartered in Nigeria.

[00:24:13] How is this impacted on, I guess, your manufacturing inputs

[00:24:17] and material costs, you know, particularly with the weakening

[00:24:20] of the Naira against the dollar pound?

[00:24:24] It's one of the reasons why we are also exploring the export market

[00:24:29] more, because every trade show we've attended anywhere in the world,

[00:24:34] there's such a huge love for our products and sort of establishing

[00:24:38] those export routes to those markets is really one of the ways

[00:24:42] that we deal with this.

[00:24:44] And I think we do a lot more B2B now locally.

[00:24:47] And then in terms of our retail products, we like to do more exports.

[00:24:51] And so by earning foreign currency, we're able to sort of hedge

[00:24:55] that difference with the high cost of production.

[00:24:59] I guess this circles back to what you said earlier,

[00:25:02] with these challenges usually comes new ideas and trends.

[00:25:07] So if we look at the trends, are there any exciting trends

[00:25:11] that you're seeing with regards to the demand for coconut products,

[00:25:15] both locally and globally?

[00:25:18] Generally, the population of conscious consumers keeps increasing

[00:25:23] and conscious consumers, you know, these are people going for things

[00:25:27] like nuts, you know, and healthy oils and fruits and things like that.

[00:25:32] And so the trajectory is clear.

[00:25:35] This is a three hundred and ninety billion dollar

[00:25:39] business globally by 2050.

[00:25:42] So the numbers aren't going down, they're going up.

[00:25:44] And so the question is, how do we collide or how do we find these customers

[00:25:49] who demand these healthy products so that the opportunities

[00:25:54] continue to increase as we've seen the projections?

[00:25:57] Brilliant. So how would you say you go about adapting

[00:26:02] the way you operate to these trends, you know, to ensure

[00:26:06] that you remain competitive and also relevant in the market?

[00:26:10] Obviously, it's a fast moving market

[00:26:13] that you're operating in.

[00:26:14] How do you keep ahead of these trends?

[00:26:18] I think it's it's by listening, you know, and it's by building a community.

[00:26:24] And this is what we've always done.

[00:26:25] We've always listened.

[00:26:27] Last year, we opened our first Kokari Experience Centre called Kokari Cafe.

[00:26:33] We're planning on doing many more of them.

[00:26:35] And the idea is people can walk in and buy their products right there

[00:26:38] and also experience and learn how to use the products for sort of various things.

[00:26:42] Right. And that makes our community closer to us.

[00:26:46] It brings them closer.

[00:26:48] It allows us to hear them and get direct feedback

[00:26:51] and also to make sales directly to the consumer.

[00:26:55] That is, I think, one of the our unique selling points.

[00:26:59] It's that sense of community.

[00:27:00] Last weekend, we had a notable media

[00:27:04] personality come in for the Women's Day event because, you know,

[00:27:08] women are very central to us at Kokari.

[00:27:10] 80 percent of the team are women and women

[00:27:13] are the ones who really make the decisions for what is consumed

[00:27:17] in the home of that conscious consumer.

[00:27:19] And so we had a Women's Day event, and it was just wonderful.

[00:27:23] We had all of these sort of wonderful treats

[00:27:26] made with our products and coconuts.

[00:27:29] And we gave women the opportunity to sort of share

[00:27:32] what was on their heart and also get feedback from them

[00:27:36] and just build a bond and a community.

[00:27:38] And I think that's one of our distinctive selling points

[00:27:42] and strategic points as a brand.

[00:27:45] Thank you for sharing that.

[00:27:46] So what did you hear from your customers that indicated

[00:27:50] there was a need for Kokari Cafe?

[00:27:53] First off, we opened it in a place that was distant from

[00:27:58] in a place where we had a lot of customers,

[00:28:00] but we didn't have a brand presence.

[00:28:03] And so we opened one there.

[00:28:05] And we also saw that this would allow us to be able

[00:28:08] to have cash flow as well, you know,

[00:28:11] where we wouldn't be stuck with, you know, the situations

[00:28:14] where we've been in the past.

[00:28:16] And yeah, and with from the feedback of the people,

[00:28:19] they're like, oh, my God, I'm so grateful.

[00:28:21] I always have to go this far and that far to get this product.

[00:28:24] And we do also in the location,

[00:28:26] we have a lot of strategic partners there as well.

[00:28:28] So that also helps. Brilliant.

[00:28:30] So I guess if we move past the trends that you're seeing

[00:28:34] and look at the future, where do you see Nigeria, Africa

[00:28:39] in five years time in terms of how we're processes,

[00:28:42] agricultural produce, such as coconuts for multiple uses?

[00:28:47] Already, right, especially with interviews like that

[00:28:51] podcast like these.

[00:28:53] The industry has shown to people that,

[00:28:57] I mean, one coconut is about 800 naira.

[00:28:59] So if you have a coconut tree, you know, or 10 or 20 or 30

[00:29:03] on your farm, it could easily make you about 200,000,

[00:29:07] 300,000 naira a year if you're selling to companies like us.

[00:29:11] So I think the awareness continues to increase in terms of

[00:29:15] the viability of this cash crop for farmers and for people

[00:29:20] in the agricultural sort of value chain.

[00:29:23] And so the demand increases and the awareness increases

[00:29:27] and the opportunities, I see all of that in.

[00:29:30] And for us, I see us expanding our farm

[00:29:33] and bringing a lot more farmers into the value chain,

[00:29:36] because as it is right now, we're exporting a lot of the wealth

[00:29:40] that should be localized with farmers in Nigeria.

[00:29:43] And our goal is to educate farmers here

[00:29:46] so that we can bring them into the value chain

[00:29:48] and bring wealth into their communities.

[00:29:53] This is my last question, and it's very different

[00:29:55] to the rest of the questions.

[00:29:57] It's probably more in tune with how we started the conversation.

[00:30:01] So as people, we often have quotes, mantras, African

[00:30:04] proverbs or affirmations that keep us going when times are challenging

[00:30:07] or when times are good.

[00:30:09] Do you have one that you can share with us today?

[00:30:12] Absolutely. Now over later.

[00:30:15] Very succinct and powerful.

[00:30:17] Fantastic. Thank you.

[00:30:21] I like that one.

[00:30:23] So how do you live by that saying in your day to day work, your life?

[00:30:29] I'm going to put it in from the simplest to the most complex.

[00:30:33] You're attending an event, you're with your girlfriends

[00:30:36] and you're like, oh, let's take a photo, let's take a photo.

[00:30:39] And it's like, oh, this person is in here or basically there'll be 10 excuses.

[00:30:45] But if you don't take it at that point, you probably won't take it.

[00:30:47] Very true. Or like a similar situation we've had,

[00:30:51] you want to install solar and you've decided

[00:30:55] you want to install solar in your cafe and you drag your feet and drag your feet.

[00:31:00] And at the first point where you wanted to do it, it was three millionaire.

[00:31:04] You drag your feet for three weeks, you become six millionaire.

[00:31:07] Now over later.

[00:31:09] You remember in a flash that you need to lock the kitchen door, right?

[00:31:14] So your backyard door and you feel like, let me, you know,

[00:31:17] grab a drink or do this and do that.

[00:31:19] You forget you leave the back door open as opposed to doing it in that moment,

[00:31:25] especially in situations where you know you can.

[00:31:27] In that moment, nothing stops you from doing it.

[00:31:30] In that moment, you do it now.

[00:31:32] Don't do it later.

[00:31:33] Do it now. Get it over with. It's done.

[00:31:35] The risk of this not happening increases

[00:31:39] the more time you waste sort of deliberating or dilly dally on a matter.

[00:31:45] If you can do it now, do it now.

[00:31:47] Now over later.

[00:31:48] Amazing, amazing.

[00:31:49] What a way to close today's conversation.

[00:31:52] I was wondering if you had any closing remarks,

[00:31:55] final course of action for people who are interested in Kokari coconuts

[00:31:59] or the Nigerian African coconut processing industry in general?

[00:32:05] Well, we actually have created an opportunity

[00:32:08] for people to come into the value chain via Kokari,

[00:32:11] where we have a franchise model with organizations,

[00:32:15] with individuals where you can take the Kokari brand

[00:32:20] and basically sell the products in your neck of the wood.

[00:32:24] You know, Kokari actually means enough wealth, enough goodness,

[00:32:28] enough to go around.

[00:32:29] And it also means in literal terms, it means let it be enough for everybody.

[00:32:34] It also means going global.

[00:32:36] So for us to be able to sort of circulate the wealth

[00:32:38] and the wellness in the coconut, we have all of these partnerships

[00:32:42] with organizations and communities where they say, OK, in my state,

[00:32:47] I want to have a Kokari.

[00:32:48] I will have all the products there for people to buy, because again,

[00:32:52] from the time you wake up in the morning to the time you go to bed at night,

[00:32:55] we have a Kokari coconut product for you.

[00:32:57] And so people can reach out to me by email at kokaricompany.com

[00:33:03] if they're interested in such a partnership.

[00:33:05] Fantastic. Thank you for that.

[00:33:08] It's been a pleasure having you on the podcast.

[00:33:10] I thoroughly enjoyed our conversation.

[00:33:12] It's clear that Kokari is at the forefront of shaping

[00:33:15] the Nigerian coconut industry through innovative solutions,

[00:33:19] dedication to quality and also your commitment to locally sourcing.

[00:33:23] So great work.

[00:33:25] And it's been a pleasure having you on the podcast.

[00:33:28] Thank you so much.

[00:33:30] Thank you so much, Tessa. Bye.

[00:33:33] Thank you to everyone who has listened and stay tuned to the podcast.

[00:33:37] If you've enjoyed this episode, please subscribe.

[00:33:40] Share or tell a friend about it.

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[00:33:47] Thank you and see you next week for the Unlocking Africa podcast.