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This is 38-year-old Maurice. He is married and has four children aged 19, 9, 4 and 2 years. He has just started running his own mobile money transfer business.

Maurice grew up with his uncle, who runs several businesses around Lusaka. He learned a lot about how to run a successful business from helping his uncle. He is excited that he has finally started running a business of his own. He says he gets immense satisfaction knowing that the money transfer services he provides make people’s lives easier.

Maurice’s small shop is located in Kamwala, one of the busiest markets in Lusaka. This means that he has a lot of customers coming to his shop. Sadly, due to a very low working capital, he cannot serve them all. He says this is a particularly big problem in the afternoons, as by that time of the day most of his money has run out and the banks are closed. This limits the number of customers he can serve in a day to a mere 10-20, when, if he had more money, he would be able to serve more than 50 customers.

When he gets the Kiva loan, he will use the money to increase his working capital so that he can serve more customers and make more profits. In the future, Maurice plans to open another shop to increase his profits so that he can take care of his growing family and send his daughter to college. He thanks you for your support.

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 provide underserved communities with financial inclusion. 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. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

About Zambia

  • $4,100
    Average annual income
  • 19
    View loans »
    Zambia Loans Fundraising
  • $1,185,825
    Funds lent in using Kiva
  • 5,236.5
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,975 helped Maurice to increase his working capital so that he can serve more customers and make more profits.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Apr 12, 2012
Apr 20, 2012
Currency Exchange Loss:
Oct 23, 2015