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Keneth
Greetings from Zimbabwe! This is 41-year-old Keneth from Bulawayo. He is married with one child, who attends school. Keneth runs a retail business buying men's jeans, trousers, shoes, and jackets for resale. He also buys electrical gadgets for resale, like adaptors and cellphone accessories, and women's clothing too. The business has been in operation for 8 years. He says the main challenges faced are lack of working capital, and exorbitant duty charges when declaring goods at the border. Keneth has requested a loan of $300 to order more stock and restock new products for winter. He says the extra income generated as a result of this loan will allow him to have more disposable income, which will enable him to pay for rentals and other day-to-day expenses. In the future Keneth plans to own a clothing and electrical shop in the Central Business District.

Additional Information

About MicroKing Finance

MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.

More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.

MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”

Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.

About Zimbabwe

  • $400
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,291,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $300 helped Keneth to buy men's clothing from outside the country (where it is cheaper), electrical gadgets, and women's clothing for resale.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2013
Listed
May 24, 2013
Currency Exchange Loss:
N/A
Ended:
Nov 19, 2013