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This is 32-year-old Henry. He is a Zoona mobile money transfer business owner. His business deals in the receiving and sending of money. This is Henry's story:

My name is Henry. I run a mobile money transfer shop at the Kazungula border post here in Zambia. I recently got married and I am looking forward to have a big family.

I am grateful for the opportunity to be on Kiva, because getting a loan in Zambia is very hard due to high interest rates. When I get this loan, I will put it in my business so that I can have more people come to my shop to send and receive their monies.

My vision is to keep growing the business by always increasing my working capital. I want to reach a point were I never have to turn away a customer because I have run out of cash. I look forward to taking out another Kiva loan as soon as I have repaid this one.

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
  • 11
    View loans »
    Zambia Loans Fundraising
  • $1,106,125
    Funds lent in using Kiva
  • 5,229.3
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Henry to increase his mobile money transfer working capital so that he can serve more customers at the border.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 21, 2012
Nov 21, 2012
Currency Exchange Loss:
May 17, 2013