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Confidence Group
In this Group: Jennifer, Priscilla, Degraca Tatu, Margret M, Netsai
Jennifer is a single woman who is age 30. She stays in Shurugwi with her three children who are ages 13, 10 and 7. All of the children are still in school. Jennifer also looks after her 4 brothers, one of whom also is in school.

Jennifer operates a bottle store and the business is doing well. She does not have any employees. She mainly sells scuds (locally brewed beer), pints, quarts, ciders and soft drinks. The challenges facing the business are inadequate funding and high transport costs.

Jennifer has a loan of $400.00 which she used to increase her stock. The loan will help her look after her extended family and put her in a position to send them to better schools. She looks forward to expanding her business by opening another bottle store in the next five years.

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
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,297,650
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Confidence Group's $2,000 loan helped a member to buy more beer and soft drinks.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 4, 2011
Listed
Oct 23, 2011
Currency Exchange Loss:
N/A
Ended:
May 31, 2012