Ntalasha has been running his business of clearing and forwarding for four years now. He recently added mobile money transfers to the business because he saw an opportunity when he noticed how people were having trouble sending and receiving their monies at the post offices and buses. His mobile money transfer shop is located at one of Lusaka’s busiest bus stations.
Getting the Kiva loan will help Ntalasha to grow his business of mobile money transfers. He will be able to serve customers who want to send and receive large amounts of money. Ntalasha says that the opportunity to get a loan has come at the right time as this is the festive season and he anticipates that many people will be sending large amounts of money to their loved ones.
In the future, Ntalasha plans to open more mobile money transfer shops at various border posts around the country. This will help him get more profit so that he can be able to take care of his growing family and send his daughter to college. He thanks you for your support.
In the video, a representative from Zoona talks to Ntalasha.
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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Success!! The loan was 100% repaid