Oxano Capital is pleased to announce it’s investment in Mujuni Ventures LtD. Mujuni is a Ugandan dairy processing and milk aggregation company founded in 2019 by Dickson Mujuni and headquartered in Kampala. The company operates across the dairy value chain sourcing raw milk from smallholder farmers, aggregating and quality-testing it, and processing it into its flagship brand, Too GooD Yogurt®. Sold in cups, pouches, and jerrycan packs across a range of volumes, Too GooD Yogurt reaches consumers through a network of small shops, supermarkets, schools, and institutions.
Why We Backed Mujuni Ventures
Mujuni Ventures represents a compelling investment opportunity driven by a resilient business model, a trusted local brand, and measurable impact. Founder Dickson Mujuni has led the company's growth since 2019and building Too GooD Yogurt into a recognised name in Uganda's dairy market. The business has built a strong operational foundation, with steady revenue, improving margins, and a founder who has proven he can navigate real operational shocks a regional border closure and a livestock disease outbreak while keeping the company profitable, Mujuni Ventures is well positioned for its next phase of growth.
Beyond its commercial potential, the company delivers meaningful social impact through smallholder income generation, rural job creation, and improved nutrition for the families and institutions it supplies. For Oxano Capital, Mujuni Ventures exemplifies the type of founder-led agribusiness capable of generating both attractive financial returns and lasting community impact.
Creating impact through growth
Mujuni Ventures' impact extends across the dairy ecosystem. Its model supports smallholder farmers by providing access to formal markets, creates employment through its growing operations, and contributes to improved access to nutritious dairy products. The company’s growth contributes to SDGs 1, 2, 5, 8, 12, and 13, supporting poverty reduction, food security, economic opportunity, gender inclusion, responsible production, and climate-conscious growth. As Mujuni Ventures enters its next phase of development, Oxano Capital will support the company in expanding its processing capacity, strengthening its cold-chain infrastructure, and increasing its distribution and market presence across Uganda.
The Future Ahead: From Smallholder Milk to a National Dairy Brand
With Oxano Capital's investment, Mujuni Ventures is poised to upgrade its production line, expand its cold chain, and accelerate distribution and brand-building across Uganda. Backed by a founder who has already steered the business through real operational shocks, a growing farmer network, and clear opportunities to shift more of its milk supply into higher-margin processed products, the company is well positioned to deliver both financial returns and meaningful social impact.
Beyond business growth, this investment will directly translate into more reliable incomes for smallholder dairy farmers, more jobs for young sales agents and bikers, and wider access to affordable, nutritious dairy for households, schools, and hospitals across Uganda. Every litre of milk that moves from the informal market into Mujuni Ventures' value chain is a step toward more farmers earning a fair price, more families with stable incomes, and more communities with reliable access to good nutrition.
Looking forward, we are excited to support Mujuni Ventures' journey — contributing to rural economic development through job creation, smallholder farmer empowerment, and improved access to high-quality dairy across Uganda. This investment reflects our guiding principle, Auxano, meaning "to cause growth," by fostering businesses that generate lasting value for individuals, communities, and local economies.
About Oxano Capital
Oxano Capital is an impact investment fund that focuses on Sub-Saharan Africa. We invest in manufacturing companies, businesses in the agro-processing sector, and technology-driven enterprises. Our goal is to achieve sustainable impact for the individual, the community, and the local economy. For more information, visit https://oxano.capital/