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Jimmy is 40 years old. He is married and has three children. He runs his mobile money transfer and auto spare parts businesses in his hometown of Lundazi, a town in eastern Zambia near the border with Malawi.

Jimmy has been selling car spare parts for five years now. He added mobile money transfers to his line of business two years ago. Being a Zoona mobile money transfer agent means that Jimmy offers the service of sending and receiving money to his community. He gets his profit every time a customer uses the service at his shop. He says being a Zoona mobile money transfers agent has helped him grow as a businessman in his town. When asked what his biggest challenge is, he sites the lack of working capital. He says the saddest part is that, when he runs out of cash at his shop, he has to make his customers wait, while he goes out to look for money and in some cases ends business..

He is grateful for the opportunity to get a Kiva loan, as it will help boost his working capital and he will earn more profit. He thanks the Kiva lenders.

In this video, a representative from Zoona interviews Jimmy.

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
  • 18
    View loans »
    Zambia Loans Fundraising
  • $1,178,450
    Funds lent in using Kiva
  • 5,190.8
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Jimmy to increase his cash on hand to make more money transfers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 26, 2012
Nov 26, 2012
Currency Exchange Loss:
Sep 17, 2013