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Kafula is 27 years old. He recently got married and has a daughter. He runs a business as an Agent for Zoona mobile money transfers and ZESCO prepaid electricity, in Lusaka, Zambia.

Before Kafula started running his own business, he worked at one of Zambia’s biggest newspapers as an accountant. He quit his job to start running his business in 2009. As an agent for Zoona, Kafula provides the service of receiving and sending money to people throughout the country. He is also an agent for ZESCO that means he sells electricity vouchers at his shop. He says the community benefits from his business because his shop is located at a bus stop so customers can easily transact their business with him before leaving town and when they get into town.

Kafula needs the Kiva loan so that he can boost his business of mobile money transfers. He says the loan will help him to serve more customers and earn more profits.

Having just started his family, Kafula is excited for the future and is very hopeful that the loan will contribute to the dream of giving his family the very best.

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 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

  • $4,100
    Average annual income
  • 4
    View loans »
    Zambia Loans Fundraising
  • $1,087,775
    Funds lent in using Kiva
  • 5,110.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Kafula to serve more customers who want to send and receive money.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 5, 2012
Nov 12, 2012
Currency Exchange Loss:
Jun 17, 2013