Running a business in Nigeria comes with numerous challenges, including the need to scale up, generate profits, track accounts, and solve personal problems. For many small business owners, 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 the Farmer Discovered 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. He started his farm on 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 mobilized 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 Naira 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.
