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Update on Mundia

Mundia continues in his quest to expand his mobile money transfer business and become the biggest mobile money agent in the western province of Zambia. He has opened eight mobile money transfer shops in seven districts and continues to grow. This is Mundia’s third Kiva loan. He has repaid his first loan and is currently repaying his second one very quickly.

Mundia has requested another loan so that he can purchase a trading booth that he will use to operate his newest shop. He explains that paying rentals for an existing shop every month is a heavy burden for his business. By purchasing a trading booth, he only has to pay ground rates to the city councils, thereby increasing his profit. He will also use the loan to add to his working capital, so he can serve his customers faster; he won't have to keep moving money from one shop to another in order to help his customers.

Mundia says he is eternally grateful for the support he received from the Kiva lenders. He now earns more profits, helping him to take care of his family and keep re-investing in his business. Mundia’s face lights up when he explains that he was able to pay for his son’s wedding last month. He is also excited that two of his children are completing their high school this year.

Mundia thanks the Kiva lenders for their support and looks forward to more engagement with them through his updates.

Previous Loan Details

Mundia is 48 years old. He is married and has six children who are all in school. He runs a mobile money transfer business in his hometown of Mongu, where he is fondly known as The Pioneer. He has been running this business since 2009 and It is his only source of income. Having attended his… More from Mundia's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.


About Zambia

  • $1,800
    Average annual income
  • 0
    View loans »
    Zambia Loans Fundraising
  • $849,100
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,675 helped Mundia to purchase a trading booth for his newest mobile money transfer shop and add to its working capital.
99% repaid
Repayment Term
34 months (Additional Information)
Repayment Schedule
At end of term
Jul 4, 2013
Jun 10, 2013
Currency Exchange Loss:
Mar 17, 2014
This photo was used before for a previous loan for Mundia. It was first posted on Kiva on May, 2012. Learn More