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Mushamukadzi Group
In this Group: Rungamirai, Rachel, Vongai, Magreth, Shumirai, Eunice
Rungamirai is a 57-year-old lady. She is married and has four children, ages 39, 37, 35, and 31 years, all no longer going to school. Besides her family, she also takes care of her grandchild.

She is in the agriculture business (poultry) in Masvingo. She is running the business with the help of her husband. She has been in business for over ten years and has no employees working for her.

Rungamirai has requested a loan of $400 to buy more chicks and feed. With the extra cash from this business, she will be able to provide basic needs for her family. The challenge she faces in the business is high competition in the market.

Rungamirai is planning to have a much bigger poultry project in the next five years so that she can employ at least a number of people in her community to ease their problems.

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
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Mushamukadzi Group's $2,400 loan helped a member to buy a stock of feed and chicks.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 7, 2011
Listed
Jan 6, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 1, 2012