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Mlambogroup
In this Group: Tariro, Emeldah, Blessing, Tsikani, Priscillah, Patricia, Joyce, Shafeena, Tarisayi
Tariro is a 56-year-old lady and she is a widow. She has four children aged 35, 31, 27 and 24 years and none of the children is still in school. She has three other dependents, her grandchildren, whom she stays with.

She operates a shop in Masvingo town where she sells cellphone accessories. She buys her products from Harare and she has been in business for two years now. She has two employees who work for her. The challenge she faces in the business is of high competition in the market. She would like to own various branches around the country in the next five years. She has requested a loan of $250 to buy cellphone accessories. With the profits from the business she will be able to get new furniture for her home and take care of her family's 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
  • 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 Mlambogroup's $2,400 loan helped a member to buy cellphone accessories.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 12, 2011
Listed
Jan 9, 2012
Currency Exchange Loss:
N/A
Ended:
Aug 1, 2012