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Mawere1 Group
In this Group: Patson, Manenji, Violet, Varaidzo, Adijah
Patson is a 37-year-old married man with 2 children, aged 11 and 6 years. Both children are going to school. He also has 1 dependant, his nephew, whom he stays with.

He has a flea market business at Garikai Flea Market in Masvingo town, which he is operating with the help of his wife. He has been in this business for 10 years. He does not have any employees who work for him. He buys his products from Zambia and Harare, Zimbabwe. High competition in the market is the challenge he faces in the business. In the next 5 years he would like to have a boutique in the central business district in Masvingo town. With the extra income generated from the business, he will be able to pay his children's fees in full without any difficulties.

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 Mawere1 Group's $1,350 loan helped a member to buy clothes and shoes.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2011
Listed
Dec 13, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 30, 2012