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Newlife Group
In this Group: Kerecencia, Douglas, Regina, Juliet, Lovemore, Norris, Tambudzai, Joseph, John
Keresencia is a 60 year old lady and she is a widow. She has 4 children ages 41, 37, 35, and 32 years. She also has 12 dependants who are her orphaned grandchildren.

Keresencia operates a vegetable stall at Nyika Growth Point. She has been in the business for 20 years. She buys her products from Harare and masvingo. She has two employees who work for her. The challenge she faces in the business is that her products have a cost that is high as she can not take advantage of bulk buying. In the next five years, she would like to have a shop with a refrigerator so that the vegetables do not perish due to high temperatures. With the profits from the business she will be able to take care of her ophaned 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
  • 46
    View loans »
    Zimbabwe Loans Fundraising
  • $3,569,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Newlife Group's $3,600 loan helped a member to buy potatoes, apples, cabbages, and oranges.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Nov 9, 2011
Nov 23, 2011
Currency Exchange Loss:
Jun 30, 2012