Rufina runs a clothing business selling ladies' outfits, menswear and shoes. The business has been in operation for five years. She says the main challenge is competition with established companies.
Rufina has requested a loan of $600 to buy clothes and shoes for resale. She says the extra income generated as a result of this loan will allow her to be in a position to pay school fees and look after the family.
In the future, Rufina plans to open a shop in the central business district.
About MicroKing FinanceMicroKing'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.
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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.
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