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Wave Stars Group
In this Group: Eunice, Florence, Beaular, Naomi
Greetings from Zimbabwe! This is 38-year-old Naomi from Mutare. She is married with two children, both attending school. Naomi runs a poultry business producing chickens. The business has been in operation for five years. She says the main challenges faced are that the previous months have been characterized by a liquidity crisis and the high competition in the poultry business. Naomi has requested a loan of $375 to buy more feed and increase the number of chickens that they are operating with. She says the extra income generated as a result of this loan will allow her to uplift the living standards of her family and support the business to remain profitable. In the future Naomi plans to own a bigger space where they can operate from at a larger scale. Naomi is a member of Wave Stars Group.

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

  • $2,000
    Average annual income
  • 48
    View loans »
    Zimbabwe Loans Fundraising
  • $3,569,750
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A portion of Wave Stars Group's $1,500 loan helped a member to buy more feed and increase the number of chickens that they are producing.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 22, 2014
Listed
May 8, 2014
Currency Exchange Loss:
N/A
Ended:
Nov 17, 2014