On The Money is a PiggyVest editorial series that explores the personal stories and lived experiences behind the data points in the annual Piggyvest Savings Report.
From selling cake slices in her dorm at Igbinedion University to building a career as a successful marketer and community manager, Amaka Amaku’s story is anything but ordinary. And that’s not even half of it. A true juggler and multipotentialite, she also runs five businesses while thriving as a lifestyle content creator. In this interview, she takes us through her journey, the lessons she’s learned, and what it really takes to turn your passion into an income stream.
You’re well-known as a serial entrepreneur with multiple thriving businesses. How would you describe yourself?
It’s interesting to see myself through the lens of other people; people think I have everything together and have my life all figured out, but the truth is, every day I just wake up and do what needs to be done.
So as much as I’m a businesswoman, a traveller, a juggler, and a content creator, I’m still just a girl figuring things out.
Before your content and travel businesses, what was your first ever stream of income?
I’m going to go all the way back to selling phone chargers in Port Harcourt with my best friend when I was 15 years old. This was in 2009; it was the first time I ever made my own money. My best friend’s dad owned an electronics shop, and his brother had another shop that specialised in selling phones.
This was back when landlines were popular, but people also had handsets with detachable batteries. My friend was very entrepreneurial, and she would buy things from her uncle’s shop and say, “How about we sell this?”
We met at a big church where my dad was a priest, and there were a lot of people who needed chargers and batteries when their chargers and batteries broke. We supplied that need, and that’s how we made money. We didn’t need the money to survive; our parents provided for us. We just enjoyed selling. It’s funny because we’re both still entrepreneurs today. She lives in Ghana with her family—she has three kids—and she owns a provision (mothercare) store and a MoMo venture over there.
What about after that? What was your first business in uni?
My first real business was in 2013; I was baking cakes. I would bake a whole cake, cut it into slices, and sell them in Dora Hostel in Igbinedion University. I wasn’t doing it because I needed money to eat.
At the time, I was a second-year medical student, but my school had lost its accreditation, so I had to switch to a physiology program. The school was so expensive, and my parents had only sent me there to study medicine. So my mom said I would have to change schools, which I already knew I was going to do.
During those final days, I was still attending classes, but I was also baking and selling cakes. A pan of cake would cost me about ₦400 or ₦500 to make, and I would sell a slice for ₦100. I was making good money.
It sounds like your upbringing influenced your business pursuits. Is that true?
Yes, it did. My mom is the entrepreneurial queen; she’s my mentor and my blueprint. Everything I am today is a result of watching her. She’s always had a 9-to-5 job but has also always run businesses.
My mom modelled entrepreneurship for me, and I saw that it was possible. She has done it all—sold jewellery, clothes, and even run a poultry farm. She juggled all of it while working a full-time job. I watched her do all these things, so it was easy for me to believe I could do the same.
Funnily enough, when I started my hair business in uni, she was against it. She told me I had to graduate with a 2.1 first, and then I could do business after I finished school. Of course, I did both and graduated with a 2.1 because I’m a juggler.
Where did you go after Igbinedion, and what did you study?
I moved to the University of Benin (UNIBEN) in 2016 to study plant biology and biotechnology.
Being a core science student, how did you end up in marketing and community management?
I love sharing this story because my career today is a direct result of starting that business. It was a completely unexpected turn of events. I was a medical student and intended to become a doctor, but then I started a hair business, Amaka’s Hair For Days, which was incredibly successful.
I had formed a great network and a community of customers from my time in UNIBEN. After graduating and while waiting for service, I stayed back in Benin for an extra year to run my business. When the time for NYSC finally came, I moved to Lagos for my service year, and everything changed.
I was practically cut off from my network, and it became harder to sell the hair because nobody knew me in Lagos. I had to use what I had at my disposal, which was e-commerce and digital marketing. I used everything at my disposal: Instagram, Twitter, WhatsApp, and even Snapchat.
And were you immediately good at it?
I was surprisingly so good at it. I’ve never had issues expressing myself online, even though I have severe social anxiety in person. I was a big sharer on the internet, so when I started my business, I just shared what I was selling, and people responded positively.
Ideas flowed easily. Marketing apparently runs in my blood. I would wake up every day with fresh ideas for captions and products, and I continued to learn new ways to stay afloat in the digital marketing world. During this time, I was also managing a bookstore, Ouida, and the opportunity to manage their social media came to me. And in that time, that business was completely transformed.
We went from just selling books to becoming a cultural hub for young people in Lagos, hosting events, and more. That’s when a friend told me I was brilliant at it and that I could make a career out of it, rather than just selling hair. I took his advice, and here I am, seven years later.
Did having a 9-to-5 affect your hair business?
It made it better. The word “impossible” doesn’t belong in my vocabulary unless I’ve tried every possible solution. I have never not tried to do both. My business was doing great; I was delivering hair to places like Calabar and even internationally. My salary at my job was ₦20,000, and it didn’t even faze me because my business was so profitable.
Love that!
My 9-to-5 job provided me with an impeccable structure and drive, which contributed to my success in business. For example, my job required me to post every day, and I learned the value of a strict structure from working a 9-to-5 job. Now, I have multiple businesses.
Because of this structure, I’m able to manage multiple businesses. I have an assistant who now manages some of my social media pages, particularly the retail businesses, but the newer ones still need my presence. Humble-but-not-so-humble brag, but there are only a few people in Nigeria who can do social media as well as I can.
Talk your stuff. Showing up on multiple platforms still takes serious dedication. How do you manage all your responsibilities?
It takes a lot, but because I’ve built a system, I can do all of these things; I don’t neglect anything. I’ve built a routine that keeps me consistent and ensures everything gets done. Since my first job seven years ago and the two years of posting my business online before that, I’ve shown up online every day.
This means that every single day for the past nine years, I have made at least one post on social media.
Your work rate is unmatched. In those early days, did you see this career path clearly?
Not at first; I didn’t see a career path in front of me. I was just working for the passion of it, as I was making good money from my business. My job was just a bonus, and I loved it. And I’m glad I discovered my passion first, though there’s also a downside to this.
What’s the downside?
When working for passion, you might not grow as quickly as you could. While others are working strategically and optimising for growth, you’re grinding for the love of the game. For example, while I was a communications manager at Ouida, I was offered a communications associate job at another company that paid almost four times my salary.
I turned it down because it was too far from where I lived. If I had taken that job, I would probably be a senior executive by now. But I was focused on doing what I loved, and that was enough for me at the time.
You eventually moved on from this job. Why did you leave?
I left because I was sure of what I wanted to do in terms of a 9-to-5 career. I gained confidence and applied for jobs—the last time I ever applied for a job. Every job I’ve gotten since then has been based on referrals.
I landed a new job managing corporate communications for a home automation company, which was my first venture into tech. It was new, the pay was much better, and the going was great, before COVID hit.
What happened during COVID?
When COVID hit, I was working three jobs. I was managing communications for the home automation company, I took a contract job with a fintech doing social and content marketing, and I had another job with a fashion brand doing social media marketing. I value stability, so I don’t like moving between jobs, but 2020 was full of short-term opportunities.
Word started to spread about my skills. COVID showed people that they had to lean into the digital space since all physical offices were closed. That’s when platforms like TikTok and content creation in Nigeria (and everywhere else) became huge. That was when I truly started to excel. By the time the lockdown was over, I had landed a full-time role at another fintech.
How was your hair business faring during the lockdown?
It was so scary at first. Dispatch riders weren’t working, and wig makers weren’t really making wigs. People were focusing on essentials, and for a minute, I thought I would have to shut my hair business down. Not gonna lie, the first two to three weeks of lockdown were terrifying. I had even announced that my business was closed.
But then a friend made an order for two wigs, and I was initially flabbergasted because I didn’t know how I was going to fulfil it. But I put in a few calls, and I learnt that dispatch riders were still working because they were considered essential for medical and food deliveries.
I called my vendors and they still had the supplies I needed to fulfil the order. And just like that, business was back up and running. I started making wigs and content, and because we all had free time on our hands, my business took off. I made the most money from my hair business during the lockdown.
Even after the lockdown ended, that year’s Big Brother Naija popularised the “bone straight” hair trend. And that was my bag. Overall, 2020 was the best year for my hair business.
What about the full-time job you got?
I’d gotten a job as a community manager for Halo (now Halo Invest), a fintech company that hadn’t launched in Nigeria yet. This particular job was one of the best I’ve ever had because I was truly challenged.
I was so proud of the work I did. I took a product that hadn’t launched and made its name a household one. Our marketing was so good that people joked on Twitter that we could rebrand as a marketing agency. We launched numerous initiatives, hosted Twitter Spaces and Clubhouse rooms, and I even created a piece of content that is still recycled on the internet today.
Why did you leave that job?
I got a better opportunity. My manager at the time and I had a great working relationship. We loved marketing so much that we did the work because we loved it. So, when she got a better opportunity at a global company with better pay and career growth, she took me with her.
That’s how I got into the recruitment tech industry. I spent about a year and a half there, working to solidify a new brand in Nigeria. It was hard work but very rewarding. After that, I got the opportunity to join Flutterwave, and here I am.
You currently run five businesses. What was the next business you started, and why?
My swimwear business, Swim and Dream, came next in 2022. At the time, I was travelling to Kigali on holiday, and I couldn’t find a white bikini for a boat cruise. I found it appalling because there were so many fashion brands in Nigeria, but only a few swimwear brands. And the few that existed catered only to the luxury market, and the last straw for me was that most of these bikinis stopped at size 12.
I was a size 12 at the time, but I couldn’t help but wonder what would happen to women who were bigger than a size 12. I’d just identified a giant gap in the market.
Interestingly, I had actually tried to start a swimwear business in 2019, but it never went to market because I couldn’t find a tailor who could properly sew the fabric. I was dissatisfied with the samples they made, so I abandoned the idea.
So you revived that dream?
Yes. In 2022, I had the capital, but I was also much busier with my career. I didn’t want the stress of manufacturing, so I decided to retail. I bought a bunch of bikinis in my size, but I made sure to add bigger sizes. My unique selling point was that my brand was size-inclusive.
I still dream of eventually creating my own bikinis, but for now, retail works.
So, what came after the swimwear business?
My travel business. On that same trip to Kigali, a friend of mine, who was also my catalyst for my career, said, “You love to travel, and you’re amazing with marketing and branding. And I’m great with operational management and logistics. Let’s start a business together.”
He didn’t have to say anything else. As he was speaking, I’d already begun branding the business and creating flyers for our next trip to Senegal. That’s how VoyagersNg came to be.
You really do love a good challenge.
Yes! I’ve always been the type of person who just starts, and then I figure it out along the way. While there might be mistakes, I always make sure that I bear the costs, not my clients. I honestly was just discovering my love for travel, and I didn’t know this business would become such a big deal today.
After your travel business, what was your next venture?
The next one was activewear, and that was a no-brainer. I had started going to the gym in 2022 and noticed a gap in the activewear market in Nigeria, specifically with pricing. The only activewear brands I knew of weren’t affordable; they sold tops and bottoms separately, and the designs weren’t particularly appealing. So I decided to start my own.
My swimwear business was already doing so well and required minimal effort—just order items from China and sell them in Lagos. It was simple. I initially wanted to add this activewear brand to that business, but my audience said, “Remember, the business is called Swim and Dream.”
So I had to start a separate activewear business called Active Lifestyle. As you can already tell, I like simple, straightforward names for my businesses.
How is the activewear business doing now?
I started the business at the end of 2022, but I’ve still not figured it out. I’ve learned that activewear is more complex than swimwear. The biggest issue I’ve faced is with sizing, especially for bigger women. The biggest size I can order is a size 16, which is not good enough.
So I’ve been selling off my remaining stock with a plan to create my own activewear line to accommodate more sizes. This will require more financial commitment and investment, but there’s no hurry. I know I will pick it back up again, but for now, my hands are full.
You own a gift-curating business. What inspired that?
The first time I created a gift box was in 2021. I noticed that during every gift-giving season—such as Valentine’s, Christmas, and Mother’s Day—I would receive a lot of positive feedback on my gift boxes. People would say they were the best they’d ever seen.
It’s a no-brainer that this simple initiative generated so much money for me during those peak gifting periods. In 2023, I decided to turn it into a standalone business, called the Pretty Presents Company.
In typical Charmy fashion, of course.
You can see a pattern in all my businesses; they are all tied together by my passions. I love hair, bikinis, the gym, gifts, and travel, and all my businesses are extensions of me. It doesn’t feel like work because it’s what I love.
I listened to a panel once where someone said that a business shouldn’t just be another job for you. It should be something you’d be willing to do even without an income.
Makes sense. Have you made any mistakes while running your businesses?
The biggest mistake I’ve made was during the “bone straight” hair trend in 2020. Back then, it was called “raw hair” or “dry hair”. I went from importing 4-5 kg of hair to 12 kg to meet demand. My suppliers in Vietnam were trying to keep up, so they started mixing the hair with bad batches.
I’d sold up to three good batches at first, but I didn’t clock that the final two batches were faulty. But soon enough, I found myself reconciling many returns and refunds. People would come back and complain that their hair was tangling. And if you care about the longevity of your business, you can’t ignore those complaints. I had to do right by my customers.
I was so traumatised that I stopped selling bone straight hair for a while. I learned that good things can’t be mass-produced in a short period. I was so focused on meeting the demand that I forgot I wasn’t in charge of production.
What are some specific problems you’ve faced running a business in Nigeria?
The biggest problem is the fluctuating exchange rate. In 2022, I imported a batch of goods and paid 50% of the cost when the dollar was around ₦450. When it was time to pay the remaining 50%, three weeks later, the dollar had risen to ₦710. I had to pay almost double for the hair, and it was so painful.
Since then, I no longer have a fixed price list. Customers have to message me to confirm the price of an item.
Another problem is with delivery. Dispatch riders are a huge hassle and make it difficult to give accurate timelines, especially within Lagos. I once had to ship an order to the U.S. because a customer had to travel after a dispatch rider failed to deliver on time. Interstate delivery is a bit more reliable, though. And the rise of Uber and Bolt delivery services has helped, though they are more expensive.
You talked about having an assistant. Do you have a team?
Yes, I do. I don’t have any physical stores, which saves me a lot in operational costs. This also means that my house is the headquarters for all the businesses. All the stock is in my house, and everyone who lives and works for me helps with my businesses, including my brother, the driver, and the security guard.
I also have a content intern who comes up with content ideas, wig makers, as well as two assistants who help with posting on social media. My businesses are still very small, so I don’t need many staff.
As a certified juggler, at what point did you realise you needed the help?
I’d been doing everything myself—from ordering to delivery—up until 2022. I wanted to do it all like my mom. My phone used to ring like 75 times a day. But I realised I needed help when my businesses started growing.
When I launched my swimwear business, I did pop-ups every month, and I needed ad hoc staff and assistants. Since then, I’ve delegated a lot of the work, but I still handle the creative aspect because that’s my area of expertise.
Looking back on where you started and where you are now, how would you describe your financial growth?
I’d say I’ve done really well for myself. I started my hair business simply because I overheard my parents saying they would stop giving me money after I graduated. It was a simple, practical reason: I just wanted to afford my lifestyle.
Over the years, it stopped being a “poverty alleviation scheme” and became about intentionally building a brand and finding the purpose of the business. I’ve experienced very high highs and very low lows in terms of income, but I would not trade it for anything.
With multiple income streams, how do you decide how much money to reinvest in your businesses?
That’s why I have a 9-to-5 job. For transparency, I pay everyone who works for me from my salary. My business doesn’t have to make any money in a month for my staff to get paid. I use my salary to cover my bills and my staff’s salaries.
For reinvesting, I’ve had to learn the hard way not to overstock. If you don’t have a physical store or a large display space for your products, you’ll regret it.
Great tip.
I’ve taken this advice for all my businesses except for swimwear. I just can’t stop buying bikinis. There are always two cartons of bikinis in my house, which is thousands of dollars tied down in stock.
You’re just a girl after all. Tell us a bit about your journey to monetising your content.
I’ve always been a sharer. In 2020, I realised that people like me who share content were called “content creators.” I had a camera and was good at taking pictures and videos. I’ve always had a creative eye, and people enjoyed the content I put out.
2020 really was the most transformative year of my life because it was in this same year that I got my first paid content gig with Johnny Walker. They paid me ₦350,000 to promote their campaign. People don’t know that it was my first paid gig.
You really stepped into your bag in 2020. Given your accomplishments and online persona, what are some things you do that people wouldn’t expect?
People would not expect me to still go to the market. I still go to the market and do all my own shopping and errands. I also like to walk everywhere, even though people often try to offer me a ride.
I love the simple things in life because I came from a simple background. I didn’t have a lot of the things I have today growing up. I came from financial anxiety and the constant worry of not knowing what tomorrow would bring. And I had to work hard for more than a decade to build a life that I can be proud of and rest in.
Speaking of financial anxiety. What does financial freedom mean to you?
To me, financial freedom means nobody owns my time. It means I can wake up today and decide what my day will be. Right now, my 9-to-5 job dictates my daily schedule, and a brand can call me and ask me to do something. If the pay is attractive, I have to take it.
The money might be good, but it’s still not financial freedom because I’m still working for “the man.” Financial freedom means I can decide what I want to do, when I want to do it.
What is your plan to achieve this goal?
I plan to invest more, both in myself and in the stock market. I’ve already invested a lot in my businesses, and I believe starting a business at 21 was the biggest investment I ever made. It has set up a life of constant income for my 30-year-old self.
I plan to grow my brand, polish my skills, and be more present in my field of work. I’m also trying to learn more about financial investments, such as the stock market. I missed the entire crypto wave because I was stubborn and didn’t believe in it, despite having the money to invest. I’m trying to stay teachable so I don’t miss out on more opportunities.
In your experience, is it better to master one thing before you diversify, or to just “wing it” whenever an opportunity presents itself?
Now that I’m older, I would advise people to master one thing first. There is great reward in consistency. We’re in an era where people want to get rich as quickly as possible, and they jump from one business to another. You’ll end up scattered and all over the place.
One thing about me is that I have held onto my businesses for years. I didn’t abandon one just because things were difficult. I would not have been the face of the “bone straight” craze or interviewed by the BBC if I had not held on to what I had.
I’ve stuck it out through the hard years, and that’s the only reason I can call my businesses successful today. Don’t just copy other people’s journeys. You need to know what you’re passionate about and what is worth mastering.
What advice do you have for aspiring business owners or marketers?
The most important advice I’ve received is: don’t build castles in the sky with money that doesn’t yet exist. Be realistic about your finances. You can be delusional about everything else in your life, but be honest with yourself about your finances.
The advice I would give to others is to look inwards often. The answer to that big question mark in your life most likely already lies within you. My entire career started because someone told me that I could, and my businesses came to life because I told myself that I could. I don’t have a superpower; I just found what I was passionate about and made it my career. Align your business and career with your passions, and you’d be better off.
