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Tungamiai Justine
Greetings from Zimbabwe! This is 31 year old Justine from Bulawayo. He is married and has two children. The eldest child is attending primary school.

Tungamirai Justine runs a retail business selling electrical goods. The business has been in operation for over 8 years. He says the main challenges faced are high import duty costs and competition form larger retailers who offer credit facilities over longer repayment periods. Justine has requested a loan of $500 to stock and fulfill his outstanding orders. He says the extra income generated as a result of this loan will allow him to supplement their household income, as well as other expenses and boost business capacity. In the future Tungamirai Justine plans to have his own electrical gadgets shop selling a variety of goods within the CBD. He also intends to diversify into the clothing business.

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

  • $2,000
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,458,725
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $500 helped Tungamiai Justine to order stocks of radios, TVs, cable connectors, irons, satelite dish kits, speakers, invertors for resale. The goods are bought in neighbouring countries and are sold at a profit back home, prices range from $50 to $300, and profit margins are as much as up to 100%.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 30, 2013
Listed
Jun 24, 2013
Currency Exchange Loss:
N/A
Ended:
Aug 17, 2014