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Update on Golden

50-year-old Golden, continues to grow his Zoona Mobile money transfers business thanks to the opportunity he has to access working capital through Kiva. He has been running the business for 4 years now and is a father of 4 and has 1 grandchild.

This is Golden’s third Kiva loan, he used his first loan to buy a new computer and increase his working capital float for his shop in Mansa. He used the second loan to open two new outlets in the towns of Kashikishi and Kawambwa. These two locations are now opened and transacting but are not yet profitable. Today Golden continues in his quest to have more mobile money transfer outlets opened. He is requesting a Kiva loan to help him finance opening another shop.

Golden's Kiva loan will serves as start-up capital for his micro-business. He will be able to purchase a trading booth, two new phones, and employ one person to do the day-to-day transactions at his new business.

Golden would like to take this opportunity to thank his lenders for their support. He is grateful for this opportunity and hopeful that he will continue to grow the business.

Previous Loan Details

Golden is very pleased to have fully repaid his first Kiva loan. The loan helped him to grow his business, he was able to purchase a new computer to make his transactions much faster. Golden says the loan he got from Kiva also helped him to increase his profit margins. He has saved enough money… More from Golden'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
  • 8
    View loans »
    Zambia Loans Fundraising
  • $857,225
    Funds lent in using Kiva
  • 5.5
    Zambia Kwacha (ZMW) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,025 helped Golden to grow his Zoona mobile money transfer business by providing funds to start a new outlet, including buying a trading booth, new phone, and employing a teller.
56% repaid
Repayment Term
35 months (Additional Information)
Repayment Schedule
At end of term
Aug 24, 2013
Jul 30, 2013
Currency Exchange Loss:
This photo was used before for a previous loan for Golden. It was first posted on Kiva on Apr, 2013. Learn More