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Nyash Group
In this Group: Philomina, Faith, Shingirai, Pauline, Tabeth
Philomina is a hardworking woman aged 39. She is married with five children aged 19, 15, 10 and twins aged 7. They all attend school. She also takes responsibility for one further dependent.

Philomina makes peanut butter and has one peanut butter-making machine. Currently, she has no employees. She has been in business for the past two years now. Philomina is requesting for a loan from Microking Finance to purchase nuts from the communal farmers in Mvuma to make peanut butter for sale. The main challenge is that groundnuts are very expensive and seasonal. Also there is an increasing number of people who are making peanut butter. She sees herself with five peanut butter-making machines, employees and also having her own grinding mill for maize in the next five years.

This loan should enable her to pay fees for her children and improve their standard of living.

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
  • 40
    View loans »
    Zimbabwe Loans Fundraising
  • $3,546,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Nyash Group's $2,000 loan helped a member to buy groundnuts from communal farmers in Mvuma.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2011
Listed
Dec 5, 2011
Currency Exchange Loss:
N/A
Ended:
May 24, 2012