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This is Matokwani. He runs a business in his hometown of Sesheke, a border-town located in the Western province of Zambia. He needs the loan so that he can increase his mobile money transfers working capital. This is Matokwani's story:

Hello, my name is Matokwani. I am 29 years old and I run a business center in Sesheke, Zambia. I have been running my business for 7 years.

I love my business as it is about rendering a service to people who really need it. My business offers a wide range of services such as mobile money transfers. People come to my business center to send and receive money. I then get my profits from each one of those transactions. Customers can come to my shop for photocopying and printing. I also sell cell phone accessories, flash devices, cash boxes and some fat cakes.

My biggest challenge right now is low working capital. It is particularly a challenge when I have a lot of people who want to transfer money at my shop. When this happens, I have to deposit the money that I have to the bank, but this takes too long. However I am hopeful that once I get the Kiva loan, I will be able to have more money in the business. This will help me to serve my customers faster and make more profits.

My dream is to have a big business that makes life a bit easy for my customers by delivering the service efficiently without having to keep them waiting. Thank you for your help.

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
  • 20
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 5,156.2
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Matokwani to add to his money transfers working capital so that he can serve customers faster.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 7, 2012
Nov 12, 2012
Currency Exchange Loss:
Jan 26, 2013