My name is Mwila. I am the mother of a 1 year, 10 months old son. I grew up in a town called Chipata, and I am the fifth born in a family of six. I came to Lusaka, the capital city of Zambia, to undergo training so that I can start running my own shop. I have successfully completed this training and now need a loan to start running my shop.
I intend to open my shop in my hometown of Chipata, because I feel the community there will benefit in having easy access to send and receive money to and from their friends and relatives. Also, the way I look at it, Chipata is a city in waiting and people there have caught up with technology and need as many mobile money transfer shops as possible.
With this Kiva loan I will be able to start running my own shop. I will pay rental for the trading booth, which I will be using for transactions. I will also use the money to brand my booth, hire at least one person, and get some chairs and phones.
I am very excited to get a Kiva loan and start running my own business because the profits that I will start earning will enable me to provide a good life and education for my son.
In the video, a representative from Mobile Transactions interviews Mwila.
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.
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