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In the heart of the copperbelt province of Zambia lies the city of Kitwe. It is the second biggest town in Zambia. This is where Sibeso owns her mobile money transfer business. She is 20 years old and lives alone.

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.

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
  • 19
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 4,890.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,950 helped Sibeso to employ two people in her shop and add to her working capital.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Aug 13, 2012
Aug 17, 2012
Currency Exchange Loss:
Feb 22, 2013