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Mark is 30 years old. He is married and has a 12-year-old daughter. He owns a grocery shop and offers mobile money transfers in Mwandi, a village located in the southwestern corner of Zambia.

Mark says he loves running his business because he likes bringing new products to his customers. One of the products he offers in his grocery shop is mobile money transfers. This is the sending and receiving of money. He has been offering this service for two years now. His customers are mostly local fishermen and some officials from the king’s palace.

Mark is very grateful for the opportunity to be on Kiva and possibly get his loan funded because he is not able to get a loan from a commercial bank. This is due to the fact that his hometown of Mwandi is under customary laws and therefore his shop has no title deed, which is a requirement for banks to issue loans.

When Mark gets his loan, he would like to expand his business by opening another grocery and mobile money transfer shop in a nearby village called Sichili. He is convinced that this will help him grow his business, because there are a lot of people who come to his shop wanting to send money to Sichili but there is no mobile money transfer outlet there.

Mark thanks the Kiva lenders.

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
  • 5,261.9
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Mark to open another shop in a nearby village.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Nov 29, 2012
Oct 31, 2012
Currency Exchange Loss:
Oct 17, 2013