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My name is Mercy and I am 25 years old. I recently relocated to Lusaka from my hometown of Kitwe, in the Copper belt province of Zambia. I am asking for a Kiva loan so that I can start my own mobile money transfers business.

I am the last born in a family of six. Before I underwent my training to start running my own shop, I worked for a telecommunications store as a cashier. This taught me how to be responsible with money because I handled a lot of cash. I believe that I will be able to bring the skills I learnt from my previous job to my own business.

Getting the Kiva loan means that I will be able to set up my mobile money transfers shop. I will use the loan to buy the phones that I can use for transactions, some chairs so that my customers can have a place to sit. I will also use the money to brand my shop so that I can attract customers.

I am very excited about starting my own business because I see it as a way to improve my economic status and that of my family.

Thank you Kiva lenders for having the heart to help other people by lending us money. Please keep up the same spirit.

A representative from Mobile Transactions shot Mercy’s video.

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
  • 18
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 4,880.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Mercy to set up the shop by paying for branding, buying some phones and chairs.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Aug 20, 2012
Jul 22, 2012
Currency Exchange Loss:
Apr 16, 2014