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Meet Andrew. He is married and has five children who all go to school. He runs a hardware and mobile money transfers shop in his hometown of Kalomo.

Andrew has been running his business for three years. He says most of his customers are local farmers and children who go to a nearby boarding school. They come to his shop to receive money from their parents and sponsors. He says his customers like transacting from his shop because he treats them with respect.

When asked what his biggest challenges are, Andrew is quick to say that he struggles to serve his customers on time, due to low working capital. He sometimes borrows money from neighboring shops just so that he can pay out because he does not believe in turning away customers.

Andrew needs the Kiva loan so that he can add to his working capital and make more commission. He says he will continue to grow his working capital until he is able to pay out customers without having to keep them waiting. He looks forward to taking out another Kiva loan once he has repaid this one.

This business is Andrew's only source of income and he uses his profits to take care of his family and send his children to school.

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
  • $1,185,400
    Funds lent in using Kiva
  • 5,249.8
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Andrew to add to his working capital so that he can have adequate money to serve his customers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Nov 13, 2012
Dec 4, 2012
Currency Exchange Loss:
Feb 17, 2014