Enygma Ventures, known for its focus on investing in women-led businesses in Africa, has found success in Zambia through its investments in both PremierCredit and Lupiya, from which it exited in February 2024 after the company repaid its outstanding debt.
This revised investment model aligns Techstars more closely with the funding terms offered by other leading global accelerators, notably Y Combinator (YC).
Visa’s Africa strategy is ambitious. Its $1 billion commitment — announced in 2022 — targets infrastructure development, digital inclusion, and financial literacy.
For startups entering South Africa’s financial or digital services space, this case is a valuable, if costly, lesson in how not to market a product — especially not to vulnerable or financially inexperienced consumers.
