US Vice President Kamala Harris Applauds Zambian Fintech Lupiya

Published on Financial Insight Zambia

In a statement, Vice President Harris lauded Lupiya for its work in empowering smallholder farmers in Zambia to adopt environmentally sustainable practices while boosting economic growth. She emphasized the importance of such innovative approaches in addressing the global climate crisis and ensuring food security for future generations.

“Here in Zambia, we know almost 80 percent of the farmers are women. And by providing microfinance — which is essentially access to capital — to help women start a farm, grow a farm, and increase not only the productivity in terms of the food production piece of it, but also increase the economic status of their families in their communities,” said Vice President Harris, at Panuka Farm which is one of the farms that have benefited from Lupiya’s funding. Lupiya, a neobank providing access to capital, investments and payments, has been instrumental in providing loans to smallholder farmers in Zambia, enabling them to invest in climate-resilient farming techniques and technologies.

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. As part of her ongoing commitment to combating climate change, 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 Vice President mention United States support of $7 billion to support initiatives that provide resilience to small holder farmers in Zambia such as access to finance, insurance and climate information services. Lupiya’s work aligns with the United States’ broader goals of supporting sustainable development, bolstering food security, and fostering climate resilience in vulnerable communities. The US government remains committed to working alongside Zambia and other international partners in advancing innovative solutions to global challenges. Lupiya is funded by US based Venture Capital Firm, Enygma Ventures who have invested more than $2 million in a seed round. Lupiya has also partnered with Mastercard to provide cash displacement solutions to improve financial efficiency in rural communities across Africa. Lupiya also became the first company to be backed by Google in 2021 under the prestigious Google Black Founders Fund. To date Lupiya has raised over $5 million dollars and is currently raising $10 million dollars in a Series A fundraising round.