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Neganda1 Group
In this Group: Shumirai, Shelter, Tsungirirai, Vimbai, Chipo, Otilia, Taona
Shumirai is a 48-year-old married woman from Masvingo with 4 children, aged 22, 19, 11 and 4 years. Three of her children are still at school. She operates a poultry project and also has a flea market stall. She has 2 employees working for her and has been in the business for 15 years.

Shumirai has requested for a loan of $200 to buy stock feeds as well as clothes for resale, for the other business of clothes selling she is running. With the income generated from the loan, Shumirai will be able to pay school fees for children on time. She says the major challenges she faces are of chicks dying prematurely because of outbreak of some diseases.

Shumirai is planning to operate her poultry business on a larger scale in the next five years and also to have a much bigger flea market.

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
  • 3
    View loans »
    Zimbabwe Loans Fundraising
  • $3,294,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Neganda1 Group's $1,400 loan helped a member to buy stock feeds and clothes.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 9, 2012
Listed
Feb 24, 2012
Currency Exchange Loss:
N/A
Ended:
Sep 19, 2012