In The News:
The facility, which is a joint venture between Vital Capital Fund and Tomosi’s Farm, was unveiling the newest product, Long Life Milk, to supplement MilkMan yoghurt it launched six months ago.
While touring the expansive facility, Eyal Jonas, the MilkMan chief executive officer, said it took the company four years to set up the $13m facility in Uganda with the first two for research and understanding the market and the other two for setting up the factory.
VTD employs hundreds of Rushere residents with many of them working in the packaging department. There are also several tractor drivers, cleaners, machine operators, security guards and farmers who have all benefitted from this project. There are even some veterinary doctors hailing just a few kilometres from the factory.
During the tour of the nearby community, The Observer talked to Jackson Muhumuza, a farmer, who said the factory has changed business in the area. “We used to walk long distances to sell our milk to middlemen that used to cheat us,” he said. “But now we have a ready market to supply the milk at good prices.”
Jones reiterated the company’s goal of enriching lives while providing good quality dairy products on the market. “This project is a perfect example of how financial profit and positive social purpose can come together to benefit both investors and local communities. When fully implemented, we will further improve the income of small hold farmers, establish distribution of quality dairy products to the region, improve the food security condition, reduce costs for consumers, and of course return profit to our investors. This is impact investing.”
Source: The Observer (14th June 2017)
