Ye! Entrepreneur Spotlight
Evelyn Kaingu | 30
Business: Lupiya (Financial Services)
Location: Lusaka, Zambia
Evelyn Kaingu is a young Zambian entrepreneur. She is the founder and CEO of Lupiya, an online marketplace for micro borrowing and investing. She holds a Bachelor of Arts in Economics from Cavendish University Zambia and further enhanced her skills in entrepreneurship at the Startup Flight Academy in 2015. She started her career as a finance and administrative officer at Spar and then became a project assistant at the World Bank Group. Then, in January 2016, she founded Lupiya.
About the Business
Lupiya was started with the aim of ensuring 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.
“We believe every Zambian should be accorded equal opportunity to access financing and fair return on investments.” – Evelyn Kaingu, CEO
Lupiya provides pre-approved loans with reliable repayment schedules and low interest rates. To do so, Lupiya works with a network of micro-investors who pool funds to finance a diverse range of enterprises and therefore, limit risk. The digital platform is accessible via a mobile application, allowing even the most isolated and previously unbanked communities access to loans and financial services. All loans are issued by First National Bank, a Lupiya partner. The eligibility requirements to apply for a Lupiya loan are simple! You must be 21 or older, have a bank or mobile money account, have a regular income, and finally, be a resident of Zambia. By simplifying the process, Lupiya can also ensure a quick turnaround time, allowing the borrows greater benefit as they can put the funds into use almost immediately.
Lupiya’s mission is to provide financial services to those previously marginalised in Zambia. In order to meet its goals, Lupiya agents working at roadside stands are equipped with iPads to ensure Zambians around the country have the chance to finance their endeavors and be included financially.
Lupiya for Women
Lupiya for Women, a subsidiary of Lupiya Circle Limited works to provide finance to women’s community groups and therefore promote women-led enterprises and the financial empowerment of women across the country. The service works to offer women without financial assets the chance to engage in the financial system. Lupiya for women offers a small line of credit to women, through a non-credit cycle to help start or grow their own projects and businesses. By targeting women, Lupiya is working to increase gender equality and women's engagement in money-making activities, thereby enhancing the financial independence of Zambian women.
Ye! Entrepreneurs are Working Toward Achieving the SDG’s
Lupiya is a youth-led, women-led enterprise that is working towards achieving the SDG’s.
Lupiya supports the following SDGs:
1 No Poverty – Lupiya allows rural and marginalized individuals and communities to take control of their financial future by providing access loans, giving them more control over their finances and allowing them to invest in wealth generating activities, thereby reducing poverty.
8 Decent Work & Economic Growth – By providing access to finance for small enterprises, Lupiya allows micro-preneurs to enter into the market and set up their enterprises, thus providing more stable employment for themselves and others.
10 Reduced Inequalities – By providing a platform specifically for women borrowers and women-led enterprises, Lupiya aims to increasing equality between genders, by reducing barriers to finance. Women in many rural areas are excluded from the financial system and from becoming financially independent through work or enterprising. With a platform like Lupiya accessible to rural women, Evelyn and her team offer a powerful tool to empower women and reduce inequality.
Looking to connect with Evelyn directly? You can learn more about her via her Ye! profile. Then send her a message to connect.