If at all there is one young Zambian woman that is focused on enabling the financial inclusion and empowerment of women in Zambia and the sub-Saharan region, then Lelemba Phiri is one of them. Recently, she made a big announcement of the establishment of the first Venture Capital fund that would focus on investing in women entrepreneurs in the SADC region.
In Africa, 47% of businesses are owned by women yet very few scale or have access to appropriate capital sources. Having worked with and been at the top level of managing a Fintech company that raised VC funding (successfully over two rounds of fundraising for a company that was known for promoting women entrepreneurs), Lelemba understands that women entrepreneurs remain underfunded in the region. So it was not a surprise when the announcement revealed that behind the US-based Enygma Ventures is an award-winning duo of entrepreneurs, Sarah and Jacob Dusek who are also the cofounders of Under Canvas Inc,; the leading US adventure-hospitality company offering luxurious glamping accommodations.
“I know how difficult it can be for women to think big because we have had so few role models to follow after. I also understand the unique struggles and challenges of building a big business, having been a founder and CEO myself. We want to help women think big and create flexible financial solutions for them with efficient & strategic deployment of capital whilst also providing helpful tailored support.”– Sarah Dusek, General Partner and Cofounder of Enygma Ventures.
As the Southern Africa Operating Partner, Lelemba said in the issued statement, “We are so excited about this strategic partnership as it validates the enormous potential of female entrepreneurs in the region and the opportunities that exist to invest in them.”
With Sarah and Lelemba both being award winners of entrepreneurial accolades who share a passion for promoting women in Africa, it gives confidence to the women who are seeking a place at the table of value creation that this is the right fund for them. A table that is now offering a plate with an initial fund of over R100,000,000 and seeks to serve up an opportunity for outstanding female entrepreneurs whose businesses have “the capability to grow and scale and who are interested to explore raising additional capital for their business”. African women are the future of value creation and Lelemba Phiri is the African face that is inspiring the sub-Saharan story.
The deadline for applications for the first cohort of entrepreneurs is 1st December 2019. To learn more and apply to the fund click here.