Sibeso comes from a family of four. She has a high school level of education. Once her business starts to make more profit, she plans to take a banking and finance course because she believes this set of skills will add value to her business. Sibeso has been running her business for three months now. She loves her business because it is able to provide money to customers who urgently need the money and it puts a smile on their faces.
When asked what challenges she faces in her business, Sibeso says that transportation of cash to and from the bank is very difficult because her location is not very secure. She says once she gets the Kiva loan, she will not have to move cash with her because she will have enough working capital and it will be much easier to go about her day-to-day business.
The Kiva loan will help Sibeso to hire two people to help her in her shop. She says it will also help her to add to her working capital so that she does not have to constantly carry cash to and from the bank.
Sibeso asks Kiva lenders to help her increase her working capital, serve more customers, and earn more profits. She plans to use her profits to study banking and finance in a part-time course.
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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