FUNDED: Matunda Ventures offers Ugandan farmers more opportunities with the production of fruit snacks

Matunda Ventures Ltd is a social business start-up that was founded in March 2019 in Uganda by Carina Juilfs and Ben Akure, assisted by agribusiness incubator Matunda Hub. They aim to boost the socio-economic opportunities available to farmers and young people in the Teso sub-region, known as the fruit basket of Uganda, by producing fruit snacks.
 
Already collected € 20.000
Searched budget € 20.000
Location
Oeganda
Project duration
2019 - 2023
Theme
Landbouw

The business project

Matunda Ventures wants to bring about a revolution in the fruit sector. They aim to achieve that by processing a wide assortment of fruit and grains into healthy snacks. In the first phase, they will focus on dried mango and pineapple, and the range will be expanded later. The snacks are marketed under the ‘Ejijim’ brand in high-end packaging. Matunda Ventures’ intention is to target upmarket, health-conscious consumers. This includes the tourism sector and reaching the young upcoming middle-class through coffee shops, shared working spaces or other meeting places. A third distribution channel is to create an online webshop and supermarket sales.

Why OVO believes in this project

 Matunda Ventures’ business project has 3 pillars. Growing a reliable network of smallholder farmers to supply the fruit, creating the production capacity for drying and packing, and expanding a market-driven infrastructure. The social impact in the form of 150 permanent job opportunities is an important aspect. 

The social start-up offers a sustainable market offering with a healthy base product that is hardly available at all at the moment, or at best to a very limited extent. With its healthy fruit snack offering, it aims to hit the correct pricing strategy in a potentially wide market. Better eating habits and proper nutrition are additional drawcards.

Investment sought

Matunda Ventures Ltd needs a loan of EUR 20,000 to finance the solar dryers, a truck for transport and office equipment. The amount also includes the required operating capital to expand the business and money for marketing. The project has been financed by Matthieu Boone with the support of OVO. 

Statement

Matunda Ventures is ready to launch a revolution in the fruit sector with a major social and sustainable impact, a healthy investment with potentially many advantages.