During her recent trip to Zambia, US Vice President Kamala Harris noticed a Zambian fintech company called Lupiya. Lupiya has been a big part of helping small farmers in Zambia get loans to invest in farming methods and tools that withstand the effects of climate change.
Vice President Harris praised Lupiya to help smallholder farmers in Zambia use methods that are good for the environment and help the economy grow. As a result of the company’s work, yields have increased, soil health has improved, and greenhouse gas emissions have decreased. At the same time, the districts now have more stable ways of earning a living.
Lupiya is backed by Enygma Ventures, a US-based venture capital firm that has invested more than $2 million in a seed round. It has also partnered with Mastercard to deliver cash displacement solutions to increase economic efficiency in rural areas across Africa.
Evelyn Chilomo Kaingu, a 2016 graduate of Cavendish University in Zambia with a degree in economics, founded Lupiya. This branchless, digital microfinance platform uses technology to make loans easier and more accessible to individuals and businesses across Zambia.
Lupiya is an online platform that provides microloans to people and small businesses, especially women micro-entrepreneurs. The company works with people of all ages and backgrounds in Zambia, helping them with the best types of financing for their needs.
Lupiya has raised more than $5 million and is now in the midst of a Series A fundraising round to raise another $10 million. Lupita was the first company that Google’s prestigious Google Black Founders Fund helped in 2021.
Lupiya has raised more than $5 million and is now in the midst of a Series A fundraising round to raise another $10 million. Lupita was the first company that Google’s prestigious Google Black Founders Fund helped in 2021.
In an interview with Afrikan Heroes, Kaingu talked about how Lupiya worked and gave advice on how to raise money and get around the Zambian startup scene. Although Zambia has a small banking system and low speed internet usage, Lupiya has been able to bring customers online, she said, by finding partners, focusing on specific customer groups and cutting back on physical work.
Lupiya’s work fits into America’s larger goals of supporting sustainable development, improving food security, and helping vulnerable areas become more resilient to climate change. Vice President Harris spoke about how important it is for countries to work together and share information to create and use sustainable agricultural practices.
She said she hoped Lupiya’s example would lead to similar projects around the world, which would help reduce the effects of climate change on food supplies. The US government has pledged $7 billion to help smallholder farmers in Zambia access financing, insurance and climate information services, among other things.
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