Country: Uganda
Sector of activity: Agro-food
Status: Capital investment
Associed fund: I&P Développement, Inua Capital
Entrepreneur: Gustav Gonget, Barbara Gonget
In portfolio since: 2024

Equator Chocolate is a paragon of artisanal mastery and distinction within Uganda’s chocolate landscape. Established in 2018, Equator Chocolate is a pioneer in adding value to Uganda’s cocoa (in place of exporting the raw commodity), buying cocoa from smallholder farmers in Uganda to manufacture dark, milk and white craft chocolate loved by local consumers and corporate kitchens alike, and customized for special occasions and premium brands across East Africa.

Equator Chocolate manufactures white, milk and dark craft chocolate from organic and sustainably-grown Ugandan cocoa. Equator’s chocolate is internationally award-winning, winning a bronze medal at the 2023 Agency for the Valorization of Agricultural Products (AVPA) International Gourmet competition in Paris.

Equator serves a wide range of customers: from hotels, lodges and high-end brands seeking to give their discerning clients a delectable taste of Uganda; to ethical consumers in export markets (predominantly Europe) where it retails with high demand; to bakers, chocolatiers, cafes and other corporate kitchens across East Africa whose products require high-quality chocolate; to local individual consumers that pick up an Equator Chocolate off the shelf to satisfy a craving or celebrate a special occasion. 


Partnership with Inua Capital

Inua Impact Fund has invested equity and mezzanine financing into Equator Chocolate to scale its production by over 3x and expand its ability to source cocoa from local smallholder farmers at a premium price. 

Inua’s investment in Equator Chocolate intends to put Ugandan chocolate on the map! (no pun intended)