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Old Zengeza 5 Corner Shop Club Group
In this Group: Alfred , Faidesi, Oripar
Alfred A. is the leader of Old Zengeza 5 Corner Shop Club from Chitungwiza and he is a vegetable vendor. He is 42, married, and has three children aged 22, 17 and 10. The one aged 10 is still attending school.

Alfred has been in the business of selling vegetables and fruits for 13 years now and does not have any other sources of income as his wife does not have any form of employment. His main challenge is lack of enough capital that forces him to travel for orders on a daily basis.


Alfred requested this loan through MicroKing for the purposes of buying tomatoes, green vegetables, sweet potatoes, apples and bananas for resale. He sees the loan amount improving the family's income and ultimately the quality of life for the family. He sees himself operating many stalls with increased income streams in the near future

Additional Information

About MicroKing Finance

MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.

More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.

MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”

Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Zimbabwe

  • $400
    Average annual income
  • 1
    View loans »
    Zimbabwe Loans Fundraising
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Old Zengeza 5 Corner Shop Club Group's $1,200 loan helped a member to buy fruits and vegetables for resale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 19, 2011
Listed
Apr 25, 2011
Currency Exchange Loss:
N/A
Ended:
Nov 23, 2011