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Mercy
Mercy is 44-years-old. She is a widow and has five children. She stopped school at an early age and got married. She was prompted to start running her own small business after the death of her husband six years ago. Her business deals in the sale of coca-cola products for wholesale and retail in her hometown of Livingstone, Zambia.

The business helps Mercy to pay for her children's school fees and take care of their basic needs. She starts her day at five o'clock in the morning and walks to the local breweries to get her orders. She then makes her way to her shop and makes sure her drinks are displayed very well so that customers can choose to buy from her as there are a lot of people doing the same business. Mercy says in the six years she has been running her business, her profit margins have remained more or less the same. This is because she has not had the money to invest in her business so that she can order more drinks.

A loan of 5,000 ZMW will help Mercy order more drinks for resale. This will improve her revenue and make it easier for her to provide for her children. She thanks the Kiva lenders.

Her dream is to see her five children go through college so that they can hopefully get good employment and take care of her in the future.

Additional Information

More information about this loan

This loan is part of Zoona's effort to provide working capital to micro-distributors in Zambia. Passionate about helping businesses grow by combining financing and electronic payment technology, Zoona provides loans to incentivize people to switch from cash to mobile payments, increase their stock levels, and open new mobile money outlets. The micro-distributors who receive these loans have been unable to access affordable credit from commercial banks. With Zoona, they can make sustainable income while increasing mobile money adoption in rural Zambia.

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.

Tags

About Zambia

  • $1,800
    Average annual income
  • 3
    View loans »
    Zambia Loans Fundraising
  • $912,325
    Funds lent in using Kiva
  • 5.5
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $925 helped Mercy to order more drinks for resale.
90% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Dec 26, 2013
Listed
Nov 27, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 18, 2015