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Meet Golden, a businessman who is 48 years old. He runs a Zoona mobile money transfers shop in his hometown of Mansa. Golden started running his mobile money transfers shop three years ago. He says his business is the safest and cheapest way in which people can move their monies from one place to another. He is very pleased with his business because he has seen it grow in transaction value. He believes he has been able to stay in business because he is financially disciplined. Golden says his biggest challenge is that the phone he uses to make the transactions runs out of connectivity. This slows down the business. Golden is hopeful that once the Kiva loan comes in, he will be able to increase his working capital and make more profit so that he can purchase a new computer to make his transactions quicker. Golden says this loan will go a long way towards boosting his business. He thanks the Kiva lenders. In the video, a representative from Zoona interviews Golden.

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
  • $849,100
    Funds lent in using Kiva
  • 5,263.3
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Golden to increase his mobile money transfer working capital.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Nov 12, 2012
Listed
Dec 7, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 18, 2013