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Rashai Chaora Group
In this Group: Rashai, Callista, Tafadzwa, Caxton, Garikai, Memory, Clever, Fanuel, Chipo
Rashai is a 33-year-old man who is married and has four children ages 12, 11, 5, and 2 years old. Two of the children go to school. He also has two other dependants who stay with him. His wife helps him in running his business. He also has additional income he receives as returns from the money they invest as a group.

Rashai has been in business for 10 years. He operates a grocery store at Charumbira Village. He buys his products from suppliers in town. He has one employee who works for him. High competition in the market is the challenge he faces in the business. He however would like to own additional branhes in the country in the next five years. The family life improvements he will get from the profits from the business is that he would be able to provide for his family's needs and wants.

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
  • $3,246,575
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Rashai Chaora Group's $3,600 loan helped a member to buy grocery items for his shop such as agro inputs.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 4, 2011
Listed
Dec 5, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 30, 2012