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Meet Alfred. He runs a mobile money transfer and stationery shop in Kaxungula. He needs a Kiva loan. This is his story....

My name is Alfred. I am married with 6 children and I have 7 grandchildren. I run a shop in my hometown of Kazungula. My shop deals in mobile money transfers and stationery supplies.

Mike Quinn, who is now the CEO at Zoona, introduced me to the business of Mobile money transfers back in the year 2009. I started the business with a capital of about $500. Today, my working capital has increased to $2000. I have seen the growth and I am very proud of the business.

As Kazungula is a border town, my customers are mostly truck drivers who send money to their families. I also have a lot of businessmen who come to get their cars at the border, and have to pay duty. I have to send some of them away because at the moment, my working capital is only $2000 and they normally need to receive huge sums of money. This makes me sad because I lose out on a lot of profit.

When I get the Kiva loan, my working capital will increase and I will not have to send too many people away. The loan will also help me to keep the stationery stock levels high.

I am very grateful for the chance to be on Kiva because it is very difficult to get a loan in Zambia. I know this will improve my family’s standard of living. I look forward to getting another Kiva loan once I finish paying this one. Thank you.

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
  • 5,189.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Alfred to add to his $2000 working capital so that he can serve more customers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 7, 2012
Nov 12, 2012
Currency Exchange Loss:
Sep 17, 2013