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Meet Darius, he runs a Mobile money transfer in Mazabuka, a large, tree-lined town, 349 km from Livingstone and 124 km from Lusaka, Zambia. This is Darius's story:

Hello, My name is Darius. I will be 26 years old on the 5th of November. I come from a family of eight. I am the only one who has completed my high school education in my family. I run my own business of sending and receiving money. I am very grateful for this opportunity.

I live in Mazabuka, a town where sugar is produced. There is also fishing as it is very close to the Kafue River. Running my own business is a very good way for me to earn an honest living. Through my business, I get to meet a lot of people in my town. I also get to make some profits, which helps me to support my siblings and my mother back home in Mansa.

I am taking out a loan so that I can increase my working capital. Right now I have a working capital of about $620. This is not enough because Mazabuka is a town that is growing and people have come to know about my business but I cannot serve them all. I have many incidents where a customer comes and they need to send $650 to a relative, I have no choice but to ask them to use another shop because I do not have enough cash and electronic at my shop.

My hopes and dreams are to expand my business. I am very hopeful that the Kiva loan will give my business the boost that it needs. For my personal life, I hope and wish to be a successful businessman and open up more shops in the future.

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
  • 4
    View loans »
    Zambia Loans Fundraising
  • $1,087,775
    Funds lent in using Kiva
  • 4,890.0
    Zambia Kwacha (ZMK) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,975 helped Darius to add on to his $620 working capital so that he can serve customers sending and receiving larger amounts of money.
96% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Sep 13, 2012
Aug 17, 2012
Currency Exchange Loss:
May 17, 2014