Lupiya, a Zambian fintech startup, has caught the attention of US Vice President Kamala Harris during her recent visit to Zambia. Lupiya has been instrumental in providing loans to smallholder farmers in Zambia, enabling them to invest in climate-resilient farming techniques and technologies. Vice President Harris praised Lupiya for its work in empowering smallholder farmers in Zambia to adopt environmentally sustainable practices while boosting economic growth. The company’s efforts have resulted in increased crop yields, improved soil health, and reduced greenhouse gas emissions, all while providing a sustainable livelihood to rural communities.

Lupiya is funded by US-based Venture Capital Firm, Enygma Ventures, who have invested more than $2 million in a seed round, and it has also partnered with Mastercard to provide cash displacement solutions to improve financial efficiency in rural communities across Africa.

Founded in 2016 by an economics graduate of Cavendish University, Zambia, Evelyn Chilomo Kaingu, Lupiya is a branchless, digital microfinance platform that leverages technology to make the process of borrowing simpler and easier for people and businesses located across Zambia. Lupiya is an online platform and provides micro-loans to individuals and small businesses, especially women micro-entrepreneurs. The company is available across all demographics in Zambia, and it offers pieces of advice about the best types of financing that fit their needs.

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Lupiya has raised over $5 million dollars and is currently raising $10 million dollars in a Series A fundraising round. Lupiya became the first company to be backed by Google in 2021 under the prestigious Google Black Founders Fund.

In an interview with Afrikan Heroes, Kaingu explained how Lupiya operates and shares insights on fundraising effectively and navigating the Zambian startup ecosystem. Despite Zambia’s small financial ecosystem and low internet penetration rate, Lupiya has succeeded by finding partners, targeting customer segments, and putting in physical effort to bring customers online, she said. 

Lupiya’s work aligns with the United States’ broader goals of supporting sustainable development, bolstering food security, and fostering climate resilience in vulnerable communities. Vice President Harris highlighted the need for international cooperation and knowledge sharing in developing and implementing sustainable agricultural practices. She expressed her hope that Lupiya’s model could inspire similar initiatives worldwide, helping to mitigate the effects of climate change on food production. The US government has committed $7 billion to support initiatives that provide resilience to smallholder farmers in Zambia such as access to finance, insurance, and climate information services.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard