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Nicholas is a qualified economist, aged 26. He runs his own money transfer business in Choma, a friendly town in the southern part of Zambia. He has been running his business for six months now.

Nicholas left his home town of Luanshya, a mining town located in the northern part of Zambia, to realize his dream of running his own business. He chose the business of mobile money transfers because he believes that mobile technology is one of the fastest growing industries in Africa. He finds joy in running a business that is quick and dependable and makes a difference in the lives of people around him. His face brightens as he describes how his business has become so popular since he opened six months ago.

To make his business more effective, Nicholas has employed one person to help him serve his customers faster. When he gets his Kiva loan, he would like to put electricity in his trading booth and purchase two computers to make his transactions even faster. The rest of the money will go towards increasing his working capital, as this will enable him to make more profits.

His hopes and dreams are to be a successful businessman and own a chain of mobile money transfer shops across Zambia.

Additional Information

More information about this loan

This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

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

  • $4,100
    Average annual income
  • 3
    View loans »
    Zambia Loans Fundraising
  • $1,087,775
    Funds lent in using Kiva
  • 5,312.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,900 helped Nicholas to connect electricity in his trading booth and purchase two computers to make his transactions even faster.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Mar 28, 2012
Apr 10, 2012
Currency Exchange Loss:
Jul 17, 2013