Alright – so today we’ve got the honor of introducing you to Imungana Malikana. We think you’ll enjoy our conversation, we’ve shared it below.

Hi Imungana, thanks for joining us today. One of the most important things small businesses can do, in our view, is to serve underserved communities that are ignored by giant corporations who often are just creating mass-market, one-size-fits-all solutions. Talk to us about how you serve an underserved community.

Zambia is grappling with the harsh impacts of climate change, notably droughts and unpredictable rainfall patterns. According to the United Nations Common Country Analysis (2021) report, Zambia stands to lose an estimated total GDP of about $330 million to $5.44 billion over the next 10 to 20 years due to climate change. Specifically, agricultural losses are projected to range from $2.20 billion to $3.13 billion during this period, with smallholder farmers bearing the brunt of these challenges.

Regrettably, smallholder farmers lack the financial means to adopt climate-resilient measures like solar irrigation systems. Most of these farmers have relocated to rural areas, far from accessible financial services, and possess limited or no credit history, making accessing credit a substantial challenge.

Cranitech Limited, through its platform EaseOnTrack, is revolutionizing access to climate finance for smallholder farmers in Zambia. Our solution is tailored to serve this underserved segment, particularly smallholder farmers and Micro, Small, and Medium Enterprises (MSMEs), addressing their restricted access to financial services, low financial literacy, and inadequate collateral. These groups, heavily reliant on rain-fed agriculture for their livelihoods, face severe consequences due to reduced agricultural productivity caused by climate change.

EaseOnTrack provides a digital finance platform utilizing machine learning algorithms to evaluate users’ creditworthiness based on various factors such as crop yields, crop types, market prices, cooperative memberships, and mobile money transaction history. This assessment enables them to apply for financial assistance aimed at bolstering their capacity to withstand and mitigate the effects of climate change.

Furthermore, our initiative includes community outreach programs led by local extension officers. These programs focus on educating farmers about climate resilience, financial literacy, and agricultural risks. Extension officers act as facilitators, providing crucial information about financing opportunities and doubling as mobile money agents. This comprehensive approach not only simplifies access to mobile money services but also empowers farmers with the knowledge and resources necessary to combat climate change and related risks effectively.

Ultimately, EaseOnTrack endeavors to significantly enhance the lives of smallholder farmers and MSMEs in Zambia by improving their access to finance, enhancing their financial literacy, and strengthening their ability to withstand climate-related challenges. By doing so, our platform contributes to poverty reduction, enhances food security, and promotes sustainable economic development in the region.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

My passion lies in leveraging technology to address the pressing climate challenges faced by communities. Having firsthand experience in rural areas and witnessing the detrimental impact of climate change on smallholder farmers’ food production, I’m ‘motivated’ to contribute to the safeguarding of communities from climate change’s adverse effects.

Our response to this critical challenge led to the establishment of Cranitech Limited, where we harness technology to empower farmers in mitigating and adapting to the effects of climate change. Our efforts have already impacted over 3000 farmers, facilitating climate financing totaling more than US $100,000. As Cranitech we are also proud of being selected as a finalist in the prestigious MIT Solve Global Challenges under the Financial Inclusion, which is a 5% percent chance.

Looking ahead, our vision involves strategic partnerships with financial institutions to upscale our impact. Over the next three years, we aim to expand our reach and facilitate climate financing worth US $1 million. This initiative will not only bolster resilience but also foster sustainable practices within farming communities, ensuring they thrive despite the challenges posed by a changing climate.

Can you open up about how you funded your business?

The initial capital came from personal savings to register the company and start to work on the prototype. At the prototype stage, we received significant capital from the United Nations Development Programme (UNDP) Zambia Accelerator when we emerged as one of the winners of the National Innovation Initiative in 2021. We also received business development, market opportunities, and support from UNDP. This played a critical role in our early operations to validate our concept during the pre-revenue stage.

Are there any books, videos, essays or other resources that have significantly impacted your management and entrepreneurial thinking and philosophy?

I find great pleasure in reading books, particularly those that have influenced my entrepreneurial mindset. Two impactful books for me have been ‘How Boards Work’ by Dambisa Moyo and ‘Rich Dad, Poor Dad’ by Robert Kiyosaki. These literary lessons play a crucial role in my day-to-day business decisions, offering invaluable insights.

I highly recommend Dambisa Moyo’s book, especially to entrepreneurs aiming to scale their businesses and extend their services across different regions, places, or countries. The wisdom encapsulated within it is particularly beneficial in navigating such expansions.

In addition to books, I actively follow motivational speakers in the business realm, notably Vusi Thembekwayo, who is not only an incredible author but also a remarkable figure. His story of rising above the challenges of being born in the unfair apartheid era of South Africa is truly inspiring. Against all odds, he has emerged as a global speaker and investor, dedicated to diligently providing capital for African businesses. His journey serves as a powerful testament to perseverance and determination in the face of adversity.

Contact Info:

• Website: https://easeontrack.com
• Facebook: https://web.facebook.com/imungana.malikana
• Linkedin: https://www.linkedin.com/in/imungana-malikana-a76545149/

Image Credits
Jonathan Chapi Nchimunya Munyama Retiana Phiri