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Chekumirira Hapana Group
In this Group: Judith, Phillip , Tamburai, Miriam, Grace, Priscilla
Judith is 39-years-old. She a widow with 3 children aged 15, 11 and 8 years and all the children are going to school. She also has 3 other dependents, her sister's children, who stay with her.

She has market stall in Masvingo town where she sells quite a range of products which include blankets, clothes, shoes and traveling bags. Judith has requested a loan of $300.00 to buy additional inventory for resale. She has been in the business for 14 years and has 3 employees. Most of her products are from South Africa and Botswana. She faces a challenge of some debtors failing to pay on time as she does credit sales. She is planning to own a number of shops in the Central Business District of Masvingo. From the extra income generated from the loan she will improve her family's' life in providing them with basic needs.

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
  • 2
    View loans »
    Zimbabwe Loans Fundraising
  • $3,226,375
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Chekumirira Hapana Group's $1,550 loan helped a member to buy clothes, shoes, blankets and traveling bags.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 6, 2011
Listed
Jan 1, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 1, 2012