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Meet Vincent. He runs a Zoona Mobile money transfer business in Lusaka. Vincent wanted the Kiva lenders to know this about him:

“I was born and brought up in the Eastern province of Zambia. My first trip to the capital city (Lusaka) was when I qualified to enter the University of Zambia. I am married and have two sons ages 9 and 2. My wife and I are expecting our third child. I have been running the business of Zoona cash transfers for a year. From the time I started, my biggest challenge has been to source working capital so that I can satisfy the customer demand, and expand my business. My business provides an essential service required for most livelihoods in a cheap and fast way. People come to my shop to send and receive money. This Kiva loan will help me realize my dream of expanding my Zoona cash transfer business in Chama district in the Eastern province. I will use the money to purchase a trading booth and use my capital to serve customers. My dream is to own a chain of Zoona mobile money transfer shops across the country, so that I can provide an essential service targeted at marketeers and people with no bank accounts. I am hopeful that having access to Kiva loans will make my dream a reality. Thank you.“

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
  • 18
    View loans »
    Zambia Loans Fundraising
  • $1,185,400
    Funds lent in using Kiva
  • 5.4
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,100 helped Vincent to expand his Zoona mobile money transfer business by purchasing a new trading booth and increasing his working capital so he can serve more customers.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Sep 23, 2013
Aug 30, 2013
Currency Exchange Loss:
May 17, 2014