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Budiriro 1 Group
In this Group: Rugare, Upenyu, Eniya, Margret, Simbiso, Gamuchirayi
Rugare is a 50-year-old married woman from Zimbabwe with five children aged 28, 23, 21, 20 and 13 years old. Four of them are still going to school.

She is into the agriculture business of poultry. The business has operated for 15 years. She has requested a loan of $400 to buy day-old chicks and feed. With the extra income from this loan, Rugare will be able to diversify into keeping layers and start another business selling eggs. The loan will also improve the standard of living of her family. She says the challenges faced are the unavailability of stock feed and in some cases, day-old chicks. She is planning to own a grocery shop in the Masvingo Central business district where she will sell both groceries and chicken meat.

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 Budiriro 1 Group's $2,100 loan helped a member to buy more chicks and 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