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Lion Group
In this Group: Francisca, Ngoni, Rhoda, Prosper, Shumirai
Shumirai is 42 years old. She is married and resides in Masvingo, Zimbabwe with her four children aged 19, 16, 10 and seven years who are all attending school. In addition, Shumirai takes care of her sister's child. Her husband is employed as a teacher.

Shumirai is involved in a variety of business activities. Her core business is knitting sweaters, but she also works in the poultry business, the cross-border trading business and the manufacturing of peanut butter. Shumirai has been in business for 20 years and employs three workers.

She is requesting a loan of $300 to buy knitting materials and livestock feed. She will combine any unspent funds from this loan with her own resources to expand her ventures. The two main challenges she faces in all of these business ventures are the shortage of electricity and competition. With the additional income generated from this loan, Shumirai will be able put enough good food on the table for her family and send her children to school. In the next five years, she plans to start a food processing company.

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
  • 3
    View loans »
    Zimbabwe Loans Fundraising
  • $3,253,625
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Lion Group's $1,500 loan helped a member to purchase knitting materials and livestock feed.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 24, 2011
Listed
Dec 19, 2011
Currency Exchange Loss:
N/A
Ended:
Jun 30, 2012