Enygma Ventures has invested US$1-million in Lupiya, a Zambian based micro-finance startup company. This investment will enable the company to continue to scale and roll out its services for financial inclusion in Zambia. Lupiya is a Zambian fintech micro-finance company taking advantage of a micro-finance sector that has in the region of 70% of Zambians, who do not have access to formal financial services.
The USA based Enygma Ventures launched a fund in 2019 with US$6.8million (R122million) in women-led entrepreneurial companies operating within the confines of the Southern African region. The fund operates in partnership with the Africa Trust Group which facilitates an incubation programme before an investment is deployed to assist with business expansion. Enygma Ventures was founded by Sarah Dusek and Jacob Dusek in order provide opportunities to women-led entrepreneurial businesses in Southern Africa. Enygma as selected 11 entrepreneurs in 2020 from the 900 applications received in Southern Africa.