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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 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
  • 6
    View loans »
    Zambia Loans Fundraising
  • $1,087,775
    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