She has been running her business for five months now and has been able to hire two employees for her booth. Her business benefits her community because it provides an accessible and affordable financial services platform, allowing customers to move their money around Zambia safely. Pamela has requested a Kiva loan so that she can increase her working capital float. This will enable her grow her business and service more customers, since expanding her client base requires more funds on hand.
Pamela is hopeful that once she has increased her float money, she will get more commissions, and will therefore be able to save up enough money to find another location where she can set up a second shop. Pamela describes herself as a simple lady who loves to smile and encourage people around her. Her biggest dream is to grow her business so that she can take better care of herself, and her late brother’s children.
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.
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