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Update on Mundia

Mundia is a successful mobile money transfer agent located in the western province town of Mongu, Zambia. Through years of hard work and dedication he has steadily grown his business from one outlet to 14. Currently, Mundia has 22 employees working at his 14 locations throughout western and northwestern Zambia.

Upon receiving his first Kiva loan Mundia was able to invest in his working capital to grow the business by serving more customers needing to send and receive money. In time, he opened three additional outlets with his increased profits.

Mundia talks about how, by reinvesting back into the business, he was able to earn more commissions and with his increased revenue, open new locations. Some locations may not be profitable for up to six months but in time all of Mundia’s outlets have become profitable. Having access to finance has fueled Mundia’s expansion and allowed him to provide 22 jobs in rural locations throughout Zambia where employment is very difficult to find.
Mundia is happy now because he is able to provide well for his family. Two of his children recently completed secondary school. Another two of Mundia’s children help manage his outlets in rural locations. The mobile money business has improved his and his family's income and well-being greatly.

Now, Mundia is requesting his fourth Kiva loan to purchase two trading booths which he will use to expand his business further. He will also use the loan to add working capital to the three mobile money outlets he is about to open.

Mundia remains grateful to all the Kiva lenders who have provided him the financial opportunity to expand his business

Previous Loan Details

When Mundia got his first Kiva loan, he was able to grow his business and use the profit that he earned to open three new shops. His shops are located in the Western province of Zambia. They are in the remote districts of Shango'mbo, Itezhi-tezi and TBZ. He says that his family benefited grea... More from Mundia's previous loan »

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.

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

  • $4,100
    Average annual income
  • 6
    View loans »
    Zambia Loans Fundraising
  • $1,087,775
    Funds lent in using Kiva
  • 5.7
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,400 helped Mundia to purchase two new booths to expand his mobile money business to serve more customers in need of sending or receiving money.
97% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Mar 18, 2014
Feb 18, 2014
Currency Exchange Loss:
Apr 18, 2015
This photo was used before for a previous loan for Mundia. It was first posted on Kiva on Mar, 2013. Learn More