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Update on Victor

Victor is 39 years old and is married with three children. He has a college degree in business accounting studies. He currently operates a mobile money transfer business, which is his only source of income.

Prior to starting his mobile money business, Victor worked as an accountant for a company in his hometown. The pay was very low and he was looking for a way to better provide for his family. After a friend introduced him to Zoona mobile money he invested the money he had saved into opening an outlet. Shortly thereafter Victory applied for a Kiva loan and used the money to increase his working capital so he could serve more customers and earn additional profits. Now, Victor is able to take better care of his family and pay his boys' school fees. He finished paying off his first loans and now Victor is requesting a second loan to open a second outlet. He sees an opportunity to expand his business but has capital constraints to open the new shop and have enough working capital to service customers.

Previous Loan Details

Meet 36-year-old Victor. He is married and has three children. He runs a drugstore and mobile money transfer shop with his father Athanasius. Victor is very proud that the very first Zoona Mobile money transfer was done at his shop in Nakonde. Victor stays in Nakonde, a town that is one of… More from Victor's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.


About Zambia

  • $1,800
    Average annual income
  • 7
    View loans »
    Zambia Loans Fundraising
  • $857,225
    Funds lent in using Kiva
  • 5.6
    Zambia Kwacha (ZMW) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,800 helped Victor to expand his business by opening a second Zoona mobile money transfer shop in his hometown.
74% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Jan 11, 2014
Dec 14, 2013
Currency Exchange Loss:
This photo was used before for a previous loan for Victor. It was first posted on Kiva on Nov, 2012. Learn More