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Clement And Tresfold Group
In this Group: Clement, Tresfold
Tresfold, 37, and Clement, 29, have been business partners for two years. They own a Zoona mobile money transfer business in one of Lusaka's busiest bus stations. They are both married and live in Lusaka with their wives. Tresfold and Clement used to work for a bus service together. They each diligently saved money from their salaries, and eventually were able to open a Zoona shop at the bus terminal. Currently, their business is their only source of income and they make all the transactions themselves. Tresfold and Clement say they enjoy running their own business because it gives them freedom to make their own decisions. They describe their business as the easiest way for people in Zambia to transfer money safely.

Tresfold and Clement have requested a Kiva loan to increase their working capital to serve more customers sending and receiving money at their shop and grow their business. This is the first time they are requesting a Kiva loan. As young micro-entrepreneurs in Zambia, working capital is very difficult to find. Tresfold and Clement appreciate the opportunity to be linked to Kiva lenders.

Tresfold and Clement have large aspirations for their business. One day, they plan to become the largest Zoona mobile money transfer agents in the capital city of Lusaka. They believe their loan is the next step in helping them achieve this goal.

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.

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.

Tags

About Zambia

  • $1,800
    Average annual income
  • 8
    View loans »
    Zambia Loans Fundraising
  • $857,225
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A portion of Clement And Tresfold Group's $4,775 loan helped a member to increase their working capital to serve more customers sending and receiving money at their shop and grow their business.
91% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Sep 19, 2013
Listed
Oct 8, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2015