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Angela is a 30 year old divorced mother of two. She runs her own store as a Champion Agent for Mobile Transactions in Solwezi providing money transfer services to her community. She started her business in July 2011 because she has always wanted to have a business of her own and when the opportunity came through Mobile Transactions, she took it. Within a month of starting her business Angela was already doing more than 1000 money transfers a month.

Access to financial services in Zambia is both scarce and expensive. Close to 10 million Zambians, 80% of the population, do not have bank accounts. As most Zambians live in rural areas, distance and transportation factors hinder access to available financial services. Mobile Transactions Zambia Limited (MTZL) is an early stage company that specializes in low-cost mobile money and other financial transaction service by propagating an open network using small businesses called Champion Agents. Angela is a Champion Agent. This is her story.

Angela believes her community benefits from her business in a very positive way because the service she provides is faster compared to other money transfer services and more often has enough cash to pay out receiving customers. She currently has one employee and two teller windows, which she uses to serve her customers.

When Angela receives her loan she will be able to increase her float money (electronic and cash value of her working capital) which will enable her to satisfy more customers. She also wants to use the loan money to pay for her booth which she is currently using to serve her customers. Angela is hopeful that once she has increased her float money she will be able to earn more commissions and have enough money to have her children, who are currently living with her parents in Lusaka province 12 hours away, come live with her.

In the video, a representative of MTZL interviews Angela.

Additional Information

More information about this loan

This loan is designed for Zoona agents, enabling them to access the working capital they need to process frequent and large mobile money transactions. Loans can also be used to help agents open new transaction booths to serve more customers, increasing the number of Zambians who have access to mobile banking technology.
Kiva loans are structured so that a percentage of an agent's monthly revenue is used to repay. Because the exact amount of these repayments is uncertain, we have structured this loan's repayment schedule to include just one payment at the end of the loan term. That said, lenders can expect to receive payments throughout the loan term as this agent earns revenue and pays back the loan.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who are transforming their communities.

In Africa, there is a tremendous pool of entrepreneurs, business owners, and young people who dream of making money and serving their communities but who are struggling to find the resources and support to reach their full potential.

Zoona offers entrepreneurs an opportunity to build their own businesses and create wealth and employment through mobile payment solutions, financial services, business management tools and support.

The network of Zoona outlets in urban and rural areas enables unbanked and financially excluded individuals the ability to transact in an easy, quick and safe manner with family, friends, and other service providers. This is a step change improvement in countries like Zambia, where the majority of transactions are still conducted in cash and are thus inefficient, insecure, and expensive. Zoona's unique model of enabling emerging entrepreneurs to provide mobile money services to consumers has the potential to significantly push the boundaries of financial inclusion in Africa.

About Zambia

  • $1,800
    Average annual income
  • 0
    View loans »
    Zambia Loans Fundraising
  • $866,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Angela to pay for her booth and increase her electronic and cash working capital.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Jan 12, 2012
Jan 27, 2012
Currency Exchange Loss:
Jan 15, 2013