The Namibia Business Angel Network (Naban), a non-profit organisation supporting the growth of start-ups, has made a significant investment of between N$100 000 and N$200 000 in Moonsnacks, a dynamic Namibian youth-owned snackfood company.
According to a statement issued by Moonsnacks, the investment would enable the new venture to expand its production capacity and meet the growing demand for its flagship product, the Peanut Burger.
The two-year-old upstart has made inroads into the market and intends to launch the product in large retail shops countrywide by the end of this year.
“We are thrilled to have secured this investment from Naban, which not only provides us with the financial resources to accelerate our growth, but also validates our strong potential in the market,” says Bruno Nghimwena, the founder of Moonsnacks.
“The funding will be instrumental in enhancing our production capabilities, exploring new market opportunities, and establishing Moonsnacks as a leading player in the food production and value addition industry in Namibia,” he says.
Moonsnacks specialises in producing and packaging delicious and nutritious peanut-based snacks.
The products are produced and packaged locally, with a focus on promoting sustainable food production and empowering local farmers.
The Naban investment not only gives Moonsnacks financial support, but also serves as a catalyst for future investments from venture capitalists and other investment funds.
By demonstrating their traction and potential, Moonsnacks aims to attract more support to sustain their growth trajectory and solidify their position in the industry.
“We are excited to support Moonsnacks on their journey to success,” says Julius Eino, the director of Ongezeko Investments, a member of Naban.
“We believe in their vision and commitment to promoting local sourcing, empowering small-scale farmers, and contributing to the growth of the agricultural industry in Namibia.
“With this investment, we hope to see Moonsnacks expand their market presence and achieve remarkable milestones,” Eino says.
Nghimwena says Moonsnacks’ dedication to quality, taste and social impact has been recognised with their receipt of the Sustainability Excellence Award at the esteemed K2Gen event in November 2022.
He says as members of the Team Namibia group, they are committed to upholding the highest standards and fostering a sustainable future.
Naban comprises 21 members from different professional backgrounds across various industries who believe in the importance of entrepreneurship as a catalyst for economic growth.
They invest in start-ups in exchange for equity in those business ventures.
– email: matthew@namibian.com.na
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