Update on Kuwirirana GroupPhillip managed to buy steel accessories and peanuts for making peanut butter. He has also managed to finish building his house and now has three tenants where he is getting extra income. Phillip says now he does not face any problems in paying school fees for his children due to the profitability of his business.
Phillip has requested a loan of $600 to buy more peanuts and welding rods and steel for making more machines. He is very grateful to the asistance he is getting from Kiva and Microking. He is also the group leader for Kuwirirana Group.
Previous Loan DetailsThis is 39-year-old Phillip from Harare. He is married with three children, two attending school. He also cares for his nephew. Phillip manufactures peanut-butter-making machines and also is in the peanut-butter-making business. The business has been in operation for 19 years. He says the main ch... More from Kuwirirana Group's previous loan »
About MicroKing FinanceMicroKing'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.
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This is a Group Loan
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Success!! The loan was 100% repaid