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Golden Mothers Group
In this Group: Precious, Sheron, Rodha, Mildred
Precious is a single woman aged 30. She lives in Kwekwe with her four year old child. She also takes care of her brother.

Precious is in the business of buying and selling fruit and vegetables. The business has been operating for the past four years now. She has two employees who assist her in selling the vegetables. She was granted a loan of $400 which she used to buy cabbages, potatoes, and tomatoes for resale. Her problem is that fruit and vegetables may go bad before they are sold which leads to losses and affects her profits.

Precious is also a hairdresser thus she supplements her income through hairdressing. She sees herself renting her own saloon thus enabling her to pay fees for her child and feed the family.

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 Golden Mothers Group's $1,600 loan helped a member to buy more cabbages, carrots, tomatoes and vegetables to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Nov 3, 2011
Listed
Nov 29, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 30, 2012