How the PalmPay Hustle Grant Helped GreenTead Farm Grow into a Multi-Million Naira Agribusiness
Source: UGC
Running a business in Nigeria comes with lots of challenges, including the need to upscale, make profits, track accounts, and still solve personal problems.
For many small business owners in Nigeria, access to funding remains one of the biggest barriers to growth.
To bridge this gap, PalmPay launched the PalmPay Hustle Grant initiative to support small businesses with the capital they need to grow, expand operations, and unlock new opportunities.
John Adekunle Akinloye, Founder and CEO of GreenTead Farm NG, emerged as one of the beneficiaries of this initiative.
How farmer found out about the PalmPay Hustle Grant
John, who studied Fisheries and Aquaculture at the Federal University of Technology, Akure (FUTA), identified an opportunity to reduce post-harvest losses by processing fresh tomatoes into paste, thereby extending the shelf life of a highly perishable crop.
The young man started his farm in a small plot beside his residence, and gradually, it evolved into a thriving agribusiness as he gained hands-on experience and participated in various agricultural training programs.
After learning about the PalmPay Hustle Grant through a friend, John saw it as an opportunity to access funds for his business.
PalmPay asked entrepreneurs to submit videos highlighting the problems their businesses solve, the impact they create within their communities, and how the grant support would help them scale.
The entries were then opened for public voting, allowing customers, friends, and community members to support the businesses they believed demonstrated the strongest potential for impact.
How PalmPay boosted John’s farm business
John was among the participants who made the shortlist, and he mobilised further support from his network and wider community, eventually emerging as one of the grant recipients.
The funding became a turning point for the business. With the new irrigation system, GreenTead Farm was able to improve productivity, reduce dependency on seasonal rainfall, and sustain farming activities throughout the year.
The addition of tomato processing also created a new revenue stream, helping the business generate more value from its harvests.
In his words:
“The grant came at exactly the right time. It enabled me to begin tomato processing and invest in irrigation materials."
PalmPay transforms farming into a multi-million-dollar business
GreenTead Farm NG currently operates a two-hectare irrigation farm cultivating tomatoes, peppers, okra, and cucumbers.
The farm has grown into a business generating over N2 million in revenue, creating a stronger foundation for future expansion.
Appreciating PalmPay, John said:
"PalmPay believed in my dream and gave me the support I needed to grow. The grant didn't just provide funding; it gave me the resources to take my business to the next level."
John's success story reflects the impact that access to finance can have on small businesses.
Through targeted initiatives, PalmPay continues to support Nigerians, helping them turn ambition into growth and contributing to greater economic empowerment for individuals and communities.
To learn more about PalmPay’s initiatives, visit here.
Source: Legit.ng
Adunni Amodeni (Content Editor) Adunni Amodeni is a journalist with ten years of working experience in the media industry. She graduated from Babcock University in 2012 with a Bachelor’s Degree in Mass Communication. Adunni previously worked with Encomium Magazine (2012-2015). Email: shoyemi.adedolapo@corp.legit.ng
Victoria Nwahiri (Human Interest Editor) Victoria Nwahiri is an award-winning Reuters-certified journalist with 5+ years of experience in digital, social media, and print journalism. She has extensively covered lifestyle, entertainment, and human interest stories that have impacted and attracted top policymakers. She is currently a Human Interest Editor at Legit.ng and can be reached via victoria.nwahiri@corp.legit.ng
