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Angelina is 31 years old and married with two children, ages 3 and 1. Her hometown is Kitwe, located in the copperbelt of Zambia. She operates her own Zoona mobile money business in Choma, which is in the southern province of Zambia.

Angelina is a nurse by profession. In September, 2012, she decided to start her own business because her salary was too low to sustain the needs of her growing family. When asked what she enjoys most about running her business, Angelina says providing a service to people who do not have bank accounts or are intimidated by the formal banking environment makes her feel like she is contributing a needed service for her community. She also gets enjoyment from being able to employ others now that she is a businessowner. Currently, Angelina has two employees.

Angelina is requesting a loan in order to serve more customers at her shop. Currently, she is working with a very small amount of working capital, which makes it difficult to service her growing customer base. She constantly gets calls from her employees in regards to needing more money to serve particular customers. The loan will go to providing her the working capital needed to serve these customers, grow her business, and make the day-to-day operations of her business more efficient.

Angelina is confident that she will be able to open additional mobile money outlets. In doing so, she will be able to earn more profits and take care of her family better. Her long-term goal is to one day own and operate her own health clinic.

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
  • 0
    View loans »
    Zambia Loans Fundraising
  • $1,028,000
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,725 helped Angelina to grow her business by increasing her ability to service more customers in need of financial services.
93% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Nov 23, 2013
Oct 30, 2013
Currency Exchange Loss:
Feb 17, 2015