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This is 44-year-old Coster. He describes himself as a happy family man. He is married and has four children. Coster runs grocery and mobile money transfer shops.

Coster started running his mobile money transfers shop in the year 2009. From the time he started, he has managed to open two more outlets in two different towns called Nakonde and Mumbwa. He describes his business as a platform that allows people in Zambia to send and receive money safely.

Coster has a vision to open more mobile money transfer shops throughout the country.

He is taking out a Kiva loan so that he can increase his working capital at his Kaoma shop. This will help Coster to serve more customers and make more profits. The profits will help him pay for his children’s school fees.

In the video, a representative from Zoona talks to Coster.

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
  • 19
    View loans »
    Zambia Loans Fundraising
  • $1,185,825
    Funds lent in using Kiva
  • 5,229.3
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Coster to serve more customers who want to send and receive money from his shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 20, 2012
Nov 21, 2012
Currency Exchange Loss:
Jan 26, 2013