Delisa, age 29, is a mother, a wife, and a guardian. She has two sons, ages ten and seven. She lives with her family in a rented house.
Delisa runs a business which provides a mobile money transfer service for people in Zambia. Her business helps her to provide for her family, even though it is not an easy undertaking. The major challenge she faces in her business is that she lacks capital to expand. This has incapacitated her growth. She says she has been running her business for some time now and it has remained the same. She had applied for a loan at a bank, but it was rejected because she did not have any collateral.
Delisa is grateful for the opportunity to be on Kiva. When she gets her Kiva loan, she intends to open another outlet in a township called Mtendere. She explains that she has already found the space, but does not have the start-up capital to start running her new shop. The capital will be used to purchase a trading booth for the new outlet.
Delisa‘s biggest dream is to grow her business, so that she can one day build a house from the proceeds of her business because the cost of rent in Lusaka is high.
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.
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.