Premier Credit, an online micro-lending platform that operates in Kenya, South Africa, Tanzania, Uganda, Zambia and Zimbabwe has received a $650,000 in seed funding from Enygma Ventures. Premier Credit was established in 2013 by Chilufya Mutale and Eugene Mwila and provides loans to mostly local women businesses by leveraging online technology.
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 further assist with business expansion. Enygma Ventures was founded by Sarah Dusek and Jacob Dusek and has selected 11 entrepreneurs in 2020 from over 900 applications received in Southern Africa.