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Wave Stars Group
In this Group: Naomi, Beaular, Florence, Wini, Eunice
Naomi is 36 years old, single, and has two children who attend school. She is from Mutare, Zimbabwe and is a member of the group called Wave Stars. Naomi runs a business selling chickens, which she has been doing for three years.

Naomi is requesting a loan for $600, which she will use to buy more chicks and feeds. She says the extra income generated as a result of this loan will allow her to boost her business and improve general family welfare. The main challenges she faces are lack of working capital and stiff competition. In the future, Naomi plans to buy a plot of land.

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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Zimbabwe

  • $400
    Average annual income
  • 1
    View loans »
    Zimbabwe Loans Fundraising
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Wave Stars Group's $3,000 loan helped a member to purchase more chicks and feeds for a poultry project.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 26, 2013
Listed
Jul 23, 2013
Currency Exchange Loss:
N/A
Ended:
May 17, 2014