NAIROBI, Kenya, October 31, 2025 — Incofin Investment Management and the Global Alliance for Improved Nutrition (GAIN), through the Nutritious Foods Financing Facility (N3F), have announced new investments in East Africa’s dairy sector targeting companies in Kenya and Uganda.
The two beneficiaries are Mujuni Ventures Limited in Uganda and Narumoro Dairy in Kenya. The investments aim to improve access to nutritious foods, strengthen local food systems, and support smallholder farmers across the region.
With these additions, the N3F Fund now has ten active investments across Sub-Saharan Africa.
In Uganda, Mujuni Ventures — a milk aggregator and processor — will receive a USD 300,000 working capital loan to expand its milk procurement network and enhance payment cycles for farmers.
The company sources raw milk from smallholder farmers and cooperatives in Central and Western Uganda and supplies processors such as Brookside Dairy while also producing yoghurt for rural and semi-urban markets.
According to the firm, about 30 percent of its milk is distributed to rural and semi-urban areas, contributing to improved nutrition through affordable milk packaged in small quantities. Mujuni also pays premium prices for quality milk and offers training and financial advances to farmers.
Mujuni Ventures Chief Executive Officer Mujuni Dickson said the funding will help the company expand its supply capacity and reach more farmers.
“With this support we will increase our raw milk supply capacity by 30 percent as well as increase business with smallholder farmers by 18 percent,” said Dickson.
GAIN will also provide technical assistance to the company in developing a low-sugar yoghurt formulation, conducting consumer research, and implementing a sales and market intelligence strategy.
In Kenya, Narumoro Dairy, located in Central Kenya, will receive a USD 500,000 blended loan — comprising USD 400,000 in working capital and USD 100,000 for capital expenditure.
The company sources milk from over 2,300 farmers and cooperatives and produces both fresh and extended shelf-life milk for distribution in rural and urban markets.
The funding will enable Narumoro to purchase over 17 million litres of milk in 2025/2026 and double its extended shelf-life milk production capacity through the acquisition of a new filling line machine.
Narumoro distributes up to 50 percent of its milk to rural and semi-urban areas, primarily through general trade outlets such as small retail shops. The firm offers competitive farmgate prices and plans to expand its farmer training programs to enhance production practices.
Founder Edwin Nginya said the company remains committed to empowering farmers and ensuring consistent market access.
“Our vision is to remain a trusted partner to dairy farmers in our community by consistently providing them with reliable market access for their milk — regardless of seasonality — and delivering safe, high-quality milk to underserved rural populations,” said Nginya.
Technical support for Narumoro Dairy will include the development and market testing of a low-sugar yoghurt product and farmer training on best dairy husbandry practices.
The N3F Fund, managed by Incofin in partnership with GAIN, combines financing and technical assistance to help local agribusinesses produce and distribute nutritious foods more efficiently, particularly targeting underserved communities across Africa.
