Updated Mar 29, 2019

Evelyn Kaingu

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Online market place for micro loans

Lupiya provides pre-approved loans with reliable repayment schedules and low interest rates. To do so, the digital platform is accessible via a mobile application and website, allowing even the most isolated and previously unbanked communities access to loans and financial services. All loans are issued via an ewallet.
Lupiya provides pre-approved loans with reliable repayment schedules and low interest rates. To do so, the digital platform is accessible via a mobile application and website, allowing even the most isolated and previously unbanked communities access to loans and financial services. All loans are issued via an ewallet.
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Stage 4: Transition to Scale

We have piloted and tested our product with 400 customers ranging from entrepreneurs, civil servants and employee's from the private sector.

Focus Areas:

Social & Micro Finance, Financial Sector & Investment and Economic Empowerment

Social & Micro Finance, Financial Sector & Investment and Economic EmpowermentSEE LESS

Implemented In:

Zambia

ZambiaSEE LESS

1
Country Implemented In
436
Customers
4
Employees
$80,000
Funds Raised to Date

Problem

In Zambia many adults do not have access to formal financial services. They cannot obtain financing to progress economically because they do not have collateral. They live in remote locations that are off the grid or do not meet requirements that justify financial return to provide them financial packages. Traditional financial institutions have struggled with challenges associated with physical infrastructure in order to penetrate these communities and provide formal financing.

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Solution

We are developing a branchless service that uses mobile applications to come up with innovative ways to provide secure financial services through our management system and a network of market agents.

Target Beneficiaries

Lupiya is targeted at over 8 million adults who are excluded from formal financials services. This includes low income employees, micro entrepreneurs, small farmers, traders and public transport operators.

Mission and Vision

We started Lupiya with the intention of simplifying borrowing requirements and creating attainable access to financial services . The aim is to ensure financial inclusion to a greater number of Zambians. The goal of the company is to make borrowing simpler and easier, ensuring accessibility to even the most rural borrowers or businesses.

Competitive Advantage

1. We have designed lending products that consider specific market needs and characteristics; whose appropriate product features take into account borrowers who are unable to satisfy collateral requirements due to lack of capital or do not have verified credit history 2. We have formulated appropriate accompanying marketing and credit strategies and action plans to ensure market acceptance that ensures realized gains exceed associated costs through; Market outreach, Simplified Cash flow and Repayment capacities, and Management. 3. Developing a Loan Management System that will streamline and standardize procedures to enhance efficiencies in service delivery. By using technology, we are able to streamline pre and post credit procedures to enhance efficiencies in service delivery, but not at the expense of increasing risk.

Planned Goals and Milestones

Lupiya for women – this will work to finance and promote small women farmers across the country. The service will work to offer women farmers registered with a centralized agriculture warehouse facility to use tradable warehouse receipts to obtain loan products. Lupiya for women will offer a small line of credit to women, through a non-credit cycle to help grow their farming activities or meet expenses such as transportation costs.
Funding Goal500,000
Projected Cumulative Lives Impacted4,000
New Implemented CountriesZambia
Recruit5 board members, 3 Management, 5 agents
New FeatureUSSD and integration with commodity exchange trading platforms

The Team Behind the Innovation

Evelyn Kaingu-Bachelor of Arts degree in Economics. She establishes and implements Lupiya’s short term goals and objectives. Chilufya Kangwa- Charted Accountant. She has more than 9 years’ experience in financial and operations management. Muchu Kaingu - Bachelor of Science degree in Business Computing. Software architect. Sara Chiumphe Lungu (Finance and administrative assistant) diploma in Banking and Finance. She has 2 years’ experience in financial accounting positions.

EXECUTIVE TEAM INCLUDES WOMEN

Milestone

Date Unknown
New Country Implemented In
Zambia