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Kumboedza Group
In this Group: Silas , Edmore, Prisca
Greetings from Zimbabwe! This is Silas, the leader of Kumboedza Group. He is 69 years old and married with two children, ages 28 and 23. Neither is attending school.

He has a general dealership shop in Chipinge Branch in Zimbabwe. He has been running this business for 15 years, and sells his products to the local community. He has no other source of income. He says that the main challenge to his business is the lack of capital.

Silas requested this loan of $400 through MicroKing to boost his stock.

He says the extra income from this loan will help him have adequate stock, which will increase his sales. In future, he would like to purchase a truck for easy supply of his stock.

Additional Information

About MicroKing Finance

MicroKing'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.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Zimbabwe

  • $400
    Average annual income
  • 11
    View loans »
    Zimbabwe Loans Fundraising
  • $3,271,800
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A portion of Kumboedza Group's $1,200 loan helped a member to pay for stock.
81% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Mar 28, 2014
Listed
Apr 1, 2014
Currency Exchange Loss:
N/A