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Meet 25-year-old Francis; he owns a mobile money transfer business in Nakonde district. His shop is located on the border of Zambia and Tanzania. The town where his shop is located is one of the biggest border towns in Zambia, with a high traffic of business taking place. This is his story....

My name is Francis. I am 25 years old. I have two brothers, and one sister. I started running my own business while I was in school. I had a camera that I would use to take pictures of people; then I would develop the pictures and sell them. This helped me to raise money to pay for my school fees. When I completed high school, I worked in a shop as a shopkeeper, and continued to take pictures in my spare time. Through my job and photography business, I was able to raise enough money to open my own mobile money transfers shop in Nakonde, a border town.

My mobile money transfer business gives me the pleasure to associate with different people. I enjoy the comfort of running the business without being answerable to anyone but myself. I have clear goals and expectations of what I want to achieve. When it comes to my customers, I believe that they benefit from my business because it helps them send money to their distant relatives, such as children in schools, colleges, etc. They are also able to buy mobile phone airtime from my shop.

I am appealing to you, Kiva lenders, to help me with this loan. I will use the loan as the working capital float for my business. Currently, I have very little working capital, which slows down my transactions. My business is located at a border town, and as such the demand is very high, and sometimes I have to keep customers waiting because I have no cash to satisfy them. Once I get the loan, I believe that the growth of my business will be evident because I will have money readily available for my customers who want to receive money. This will help me to earn more commissions. The commissions are heavily dependent on how many customers I serve.

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
  • $870,100
    Funds lent in using Kiva
  • 5.4
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,975 helped Francis to have enough working capital float so that he can serve all the customers who want to receive money from far-away senders.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
May 7, 2013
Apr 6, 2013
Currency Exchange Loss:
Feb 17, 2014