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John lives in a rented house with his wife and three children. He is 35 years old. He works very hard to support his family through his Zoona mobile money transfer business.

John started running his Zoona mobile money transfer business in 2012. He started the business with working capital of $1000. By saving and reinvesting his earnings he has grown his working capital to $2000 and is very happy with the growth. John says he loves his business because it is a way for him to provide for his family and at the same time provide a good service to his community. He explains that the people in his community of Chipata compound benefit from his business because they do not have to spend money traveling to other parts of Lusaka to access mobile money transfer services.

John has requested a Kiva loan so he can grow his business by increasing his working capital so he can serve more customers who are sending or receiving money at his shop and increase his earnings.

John dreams of opening up another mobile money transfer shop very soon. He is grateful to Kiva and Kiva lenders for this opportunity.

Additional Information

More information about this loan

This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. 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. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

About Zambia

  • $4,100
    Average annual income
  • 19
    View loans »
    Zambia Loans Fundraising
  • $1,185,700
    Funds lent in using Kiva
  • 5.4
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,550 helped John to grow his Zoona money transfer business by adding to his working capital and serving more customers.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Sep 14, 2013
Aug 20, 2013
Currency Exchange Loss:
Apr 18, 2015