Ntalasha is 34 years old. He is married and has a two-year-old daughter. He owns his own business, which deals in Customs, clearing and forwarding of goods, and mobile money transfers.
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 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.
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.