MIA crowdfunding campaign to expand and increase production in Madagascar

24-May-2018 - Last updated on 24-May-2018 at 10:42 GMT

MIA launches crowdfunding campaign on Seedrs platform. Photo: MIA.

MIA (Made In Africa) has launched a crowdfunding campaign via the Seedrs equity-based platform to raise £100K to expand, increase production, and fund equipment at its factory in Madagascar.

The bean-to-bar chocolate manufacturer also wants to implement a strategic marketing program and launch more products.

Champion African growers

Launched in the UK in November 2017 by a group of ‘foodies’ with a shared passion for the African continent, every MIA product is crafted from start to finish in Africa and is partnered with Proudly Made in Africa (PMIA).

The range of seven 75g bars are sold in the UK, Australia, Belgium, Germany and The Netherlands.

Brett Beach, co-founder, MIA, said the entire bean-to-bar chocolate making process – including the roasting, shelling, grinding, tempering and packaging – takes place under one roof in Madagascar.

“We have proven the finest quality chocolates can be produced at source in Madagascar and by doing this the benefit to local communities is more than threefold compared to the export of cocoa,” he said.

“We want to champion African growers, farmers, producers, entrepreneurs and manufacturers and we want some like-minded investors to join us on this journey in which chocolate is just the beginning.”

He added, with 65% of the world’s cocoa coming from Africa but less than 1% of chocolate made there, MIA is setting out to change this and is looking for investors.

Seedrs voting shares

“Africa and its people cultivate some of the most desired ingredients in the world but they continue to be exploited and often lack the infrastructure for industry,” said Beach.

“As a result, the 47 countries of Sub-Saharan Africa remain especially poor. Despite representing 12% of the world’s population, the region accounts for less than 2% of world trade and many communities are dependent on aid for survival.”

All investments made through Seedrs offer voting shares to investors and use professional-grade subscription agreements. This ensures that investors get the same level of protection that angel investors and venture capitalists enjoy.

It is authorised and regulated by the UK Financial Conduct Authority and was the first equity crowdfunding platform in the world to gain regulatory approval.