Oxano Capital invests in Ugandan dairy processor Mujuni Ventures

UGANDA – Oxano Capital has invested in Mujuni Ventures, a Ugandan dairy processing and milk aggregation company, to support the expansion of its production capacity, cold-chain infrastructure and distribution network.

Founded in 2019 by Dickson Mujuni and headquartered in Kampala, Mujuni Ventures sources raw milk from smallholder farmers before aggregating, quality testing and processing it into dairy products.

The company produces Too GooD Yogurt, which is sold in cups, pouches and larger-format containers through small shops, supermarkets, schools and other institutions across Uganda.

Oxano said its investment was driven by Mujuni Ventures’ business model, local brand and potential to generate social and economic impact through the dairy value chain.

The investor pointed to the company’s revenue growth, improving margins and ability to remain profitable despite operational challenges, including a regional border closure and a livestock disease outbreak.

The investment will be used to upgrade Mujuni Ventures’ production line, expand its cold-chain infrastructure and increase distribution and brand-building activities across Uganda.

The expansion is also expected to allow the company to process a larger proportion of the milk it sources into higher-margin products.

Mujuni Ventures works with smallholder dairy farmers, providing access to formal markets for their milk. Its expansion is expected to support more reliable farmer incomes while creating additional employment across its production, sales and distribution operations.

Oxano said the company also contributes to wider access to dairy products for households and institutions, including schools and hospitals.

The investment forms part of Oxano Capital’s strategy of backing founder-led businesses that combine commercial growth opportunities with measurable social impact.

As Mujuni Ventures scales, Oxano plans to support the business in strengthening its operations and expanding its market presence, with the aim of developing Too GooD Yogurt into a larger national dairy brand.

Uganda’s milk production reaches 5.4 billion litres

The investment comes after President Yoweri Kaguta Museveni cited Uganda’s increase in milk production over the past four decades as one of the country’s most significant economic transformation success stories, revealing that annual output has grown from approximately 200 million litres in 1986 to 5.4 billion litres.

The President pointed to the transformation of communities within Uganda’s cattle corridor as evidence that targeted mobilization, improved farming practices, and market-oriented production can significantly improve household incomes and drive national economic growth.

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