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Andrew is 27 years old. He is the sixth born in a family of eight. He has just completed training with Mobile Transactions to finally make his dream of running his own business come true. Andrew needs a loan to make this happen.

When Andrew finished secondary school, he took a short accounting course in his hometown of Lusaka. He describes himself as a hard worker who has passed through a lot of ups and downs in his life. He says this makes him very strong and focused in whatever he does. He will use his loan to start up a business of mobile money transfers by buying a trading booth, which he can use to make transactions. He will also use the money to buy all the necessary equipment to run a successful mobile money shop.

Andrew is hopeful that once he gets his Kiva loan, he will be able to start running his own business. He says his life will change because he will be able to earn some money and improve his standard of living and that of his siblings. He thanks the Kiva lenders.

In the video, Andrew speaks to a representative from Mobile Transactions.

Additional Information

More information about this loan

This loan is designed for Zoona agents, enabling them to access the working capital they need to process frequent and large mobile money transactions. Loans can also be used to help agents open new transaction booths to serve more customers, increasing the number of Zambians who have access to mobile banking technology.
Kiva loans are structured so that a percentage of an agent's monthly revenue is used to repay. Because the exact amount of these repayments is uncertain, we have structured this loan's repayment schedule to include just one payment at the end of the loan term. That said, lenders can expect to receive payments throughout the loan term as this agent earns revenue and pays back the loan.

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

  • $1,800
    Average annual income
  • 0
    View loans »
    Zambia Loans Fundraising
  • $866,400
    Funds lent in using Kiva
  • 4,835.0
    Zambia Kwacha (ZMK) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,950 helped Andrew to set up his mobile money transfer shop by purchasing a trading booth and to have some working capital.
99% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Aug 9, 2012
Jul 11, 2012
Currency Exchange Loss:
Feb 22, 2013