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Muchakata Group
In this Group: Lovemore, Gracious, Isabel, Letiwe, Elizabeth, Margie, Happyness, Apefaniya, Betty
Greetings from Zimbabwe! This is 31-year-old Lovemore from Masvingo. He is married with one child who attends school. Lovemore runs a retail business selling sugar beans, dried fish and soya meat. The business has been in operation for 10 years. He says the main challenge he faces is high transport costs. Lovemore has requested a loan of $400 to buy sugar beans, dried fish and soya mincemeat. He says the extra income generated as a result of this loan will allow him to be able to take care of his family. In the future, Lovemore plans to own a shop in Masvingo Central Business District.

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

  • $2,000
    Average annual income
  • 5
    View loans »
    Zimbabwe Loans Fundraising
  • $3,745,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Muchakata Group's $3,600 loan helped a member to buy sugar beans and dried fish for resale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Apr 26, 2012
May 24, 2012
Currency Exchange Loss:
Nov 20, 2012