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Kururama Group
In this Group: Beauty, Morah, Janet, Mercent, Memory
Janet is a married woman aged 60 years with three children, all of whom are married. She lives with her husband and two dependants in their house in Gweru.

Janet is cross-border trader who goes to South Africa and Botswana twice a month, where she sells seat covers and bedspreads. She has had this business since 1975. The business is affected by high tarriffs, import duty, and transport costs. With the amount of US$400 she applied for, Janet will buy material to make seat covers and bedspreads for sale.

With the loan of US$400 she has applied for, Janet intends to diversify her business into poultry, where she looks foward to buying about 1000 chicks. This will enable her to pay school fees for her two grandchildren.

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

  • $2,000
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,458,725
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Kururama Group's $2,000 loan helped a member to buy material for making seat covers and bedspreads.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 20, 2011
Listed
Oct 22, 2011
Currency Exchange Loss:
N/A
Ended:
Apr 16, 2012