Nabilah Safira
TechInAfrica – Zambia is situated in a rather fixed position. On one hand, it has supposedly the privilege to travel in and out of its neighboring countries, Tanzania, Angola, Zimbabwe, Namibia, and more. In practice, it’s quite the opposite, as the distance needed to reach these bordering countries demands costs that may make your budget in the red zone.
However, the country has managed to be the birth of startups with a consistent track record, which we will present to you on this list:
Dotcom Zambia is a company focused on crafting ICT solutions to varied sectors, from sports to entertainment. The company has provided ticketing solutions to a football match, cashless payment for merchants, and a ticketing system for bus operators. It has raised $500k led by eVentures Africa fund and others, and the latest is an undisclosed investment from FastTrackTech.
Lupiya is a startup that offers micro-loans for individuals, businesses, and women-led businesses. Its partnership goes to big brands such as Google, Amazon, and Gist Catalyst Pitch Competition. It has received $1m funding from Enygma Ventures last year. The startup aims to drive financial inclusion in the country, having recently received non-dilutive capital due to its participation in Black Founder Fund hosted by GoogleStartups in Africa.
Zazu is a digital finance management app that was founded in 2015, with the mission of bringing digital literacy in the finance sector to the low-income demography and Zambians in general. Based on cutting card processing time and cost, Zazu makes finance management a familiar and personal step for people. Its total funding is currently at $2.2m.
Venturing in a more specific fashion here is, a startup focused on marine farming, mainly fisheries breed on the shores of Lake Kariba. Founded in 2011, Yalelo produces non-GMO fish and is one of the largest aquaculture industries in the continent. As private equity, Yalelo has so far raised a total of $16.m from Finnfund at $6m and Debt Financing from FMO at $10,5m.
Bottomline
The country may lack the hubs to support the startups, but there’s always potential on the horizon, which is what The International Trade Center (ITC) believes. With more unity and teamwork among the startup players such as solid networking, Zambia can catch up to other startup ecosystems in the continent and hopefully, the global scene as well.
