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Ngoni Group
In this Group: Lisa, Promise, Voronica, Mildred, Anna
Greetings from Zimbabwe! This is 32-year-old Voronica from Mutare. Voronica is a member of Ngoni Group. She is married with four children, three of whom are attending school. Voronica runs a retail business selling clothes and hardware. The business has been in operation for seven years. She says the main challenge she faces is stiff competition. Voronica has requested a loan of $400 to purchase ladies suits and hardware for resale. She says the extra income generated as a result of this loan will allow her to improve her family's welfare. In the future, Voronica plans to operate a hardware shop in town.

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
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,269,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Ngoni Group's $2,000 loan helped a member to buy clothing and hardware for resale.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 19, 2013
Listed
Sep 2, 2013
Currency Exchange Loss:
N/A
Ended:
Jun 17, 2014