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Mukuvusi Group
In this Group: Febi, Alice, Maria, Sorai, Lilian, Rosemary, Bezola, Hilda, Pauline
Febi lost her husband some years ago and has brought up their three children alone. Her last-born is 16 years old and the only one still at school.

For the last 10 years, she has been selling clothes in the local market. She has no other source of income.

Her main problem is a lack of working capital for her business. She will spend the $400 she borrows from Microking to buy more stock. She is very grateful for the support she has been given. She hopes one day to buy a shop in town but in the meantime, she will use the profits to pay school fees for her son.

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 Mukuvusi Group's $3,400 loan helped a member to purchase clothes to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Sep 30, 2011
Listed
Nov 20, 2011
Currency Exchange Loss:
N/A
Ended:
May 25, 2012