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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 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
  • $870,100
    Funds lent in using Kiva
  • 4,880.0
    Zambia Kwacha (ZMK) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $5,000 helped Mercy to set up the shop by paying for branding, buying some phones and chairs.
98% 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