Zambia’s Premier Credit has received a $650,000 seed funding from US Venture Capital Fund Enygma Ventures. Premier Credit is an online-based micro-lending platform operating in Zimbabwe and Zambia with plans to grow across the SADC region.
This is Engyma Venture’s final investment of 2020 out of a total of 10 in the SADC region. The fund is currently putting out a call for talented entrepreneurs across the SADC region looking to apply for funding. More information available on their website
Premier Credit was founded by Chilufya Mutale and Eugene Mwila and have offered microloans across Zimbabwe since 2019. Their main target market is small-scale traders and local entrepreneurs most of whom are women-driven businesses.
In a public share, the Principal and Operating partner for Enygma Ventures Lelemba Phiri pressed confidence in PremierCredit’s ability to expand and execute a formidable regional team. She also pointed out the strengthening in the funds’ portfolio by the addition of a woman-owned Africa business.