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Mundia is 48 years old. He is married and has six children who are all in school. He runs a mobile money transfer business in his hometown of Mongu, where he is fondly known as The Pioneer. He has been running this business since 2009 and It is his only source of income.

Having attended his primary, secondary and college education in three different provinces, he can speak five local languages. This, he says, will be invaluable as he goes about his expansion plan. Before he started running his mobile money transfers business, Mundia served his community as a police officer and worked with a local bank as a team sales leader. He describes himself as persistent and hardworking. These qualities have helped him keep running his business.

Being one of the first people to start running a mobile money transfer business through Mobile Transactions Zambia (MTZ), Mundia has grown his business from scratch. He recalls that when he first started, he would only have five customers a day, which is a far cry from the 100+ who now transact with him on a daily basis. He has since managed to employ four people who help him attend to customers.

Mundia believes that the Kiva loan will help him alleviate his major challenge of having low working capital. He would like to use the money to open more outlets in his province as he is convinced that more people are in need of sending and receiving money instantly and cheaply. His expanded business will help more members of the community access this service.

He has high hopes of becoming the biggest Mobile money agent in the western province. Opening up more outlets will give Mundia more profits, which will help him provide a better life for his wife and children.

In the video, a representative from Mobile Transactions is interviewing Mundia.

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
  • 20
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 5,200.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Mundia to open another mobile money shop.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
May 22, 2012
May 22, 2012
Currency Exchange Loss:
Dec 15, 2012