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Masimba Group
In this Group: Ruth Linda, Tariro, Violet , Loveness, Elizabeth , Fungisisai
This is 44-year-old Ruth (in purple) from Masvingo, a town in south-eastern Zimbabwe. She is married with three children, all attending school. She also cares for three dependents. Ruth runs a retail cross-border business selling stoves, fridges, and clothing. The business has been in operation for 17 years. She says the main challenge faced is meeting market demand due to capital constraints. Ruth has requested a loan of $400 to buy fridges for resale. She says the extra income generated as a result of this loan will allow her to take better care of her dependents and family members. In the future, Ruth plans to own a shop where she can sell her goods.

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
  • 54
    View loans »
    Zimbabwe Loans Fundraising
  • $3,424,050
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Masimba Group's $2,150 loan helped a member to buy fridges for resale.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 21, 2011
Listed
Sep 1, 2011
Currency Exchange Loss:
N/A
Ended:
Dec 18, 2011