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Grace is a single mother of three children, ages 12, 9 and 7. She is 32 years old and recently relocated from her hometown of Lusaka to set up her own Zoona mobile money transfer business in Chipata, a town located 760 kilometers away from her hometown.

Grace believes in hard work. Every morning, she wakes up motivated by the fact that soon her business will grow bigger and enable her to take better care of her children. However, she faces a few challenges, one of which is a lack of working capital. She is currently operating her money transfer business with a minimum working capital of $2,000. This is not hardly enough for her to serve her customers with ease, as she is constantly running out of cash and losing out on profits.

This is Grace’s first Kiva loan. She plans to use her loan to add on to her working capital float so that she can grow her business and bring in enough revenue to allow her to send money back home to her mother, who is currently taking care of her children while she settles down in Chipata.

Grace dreams of becoming the biggest Zoona mobile money transfer agent in Chipata. She thanks the Kiva lenders.

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 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.

About Zambia

  • $4,100
    Average annual income
  • 8
    View loans »
    Zambia Loans Fundraising
  • $1,106,025
    Funds lent in using Kiva
  • 5.4
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,850 helped Grace to increase her working capital so that she can serve more customers and grow her Zoona mobile money transfer business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Sep 16, 2013
Aug 22, 2013
Currency Exchange Loss:
Feb 18, 2014