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Rumuko Group
In this Group: Angelo, Juliet, Chishamiso, Lucia
Chishamiso, aged 34, took her first loan with Thrive in June 2013 and after having sold second hand clothes for three months, she managed to get a passport and started procuring new clothes from South Africa and Botswana for resale. From the proceeds, she has managed to look after her husband who got sick in the last quarter of 2013 and paid fees for her three children, without forgetting to repay back the loan. Unfortunately, her husband then died in January 2014 and she has since inherited his business of sculpting tomb stones.
Chishamiso`s sculpting business is located in Glen Norah, Harare, just a few meters from where she stays. She and a group of other women are the Rumuko group and they continually attend business training offered at Thrive which has helped them to keep their businesses running despite liquidity challenges faced. Chishamiso wants her proceeds to meet the fees for her child`s O level examinations and maintain a decent life for the family. A loan with Kiva can help Chishamiso resume cross border trading without foregoing the tomb stone business.

Additional Information

About THRIVE:

THRIVE Microfinance is a for-profit microfinance institution in Zimbabwe that was founded in 2012 by former Kiva Fellow Henry Bartram. The organization provides productive business loans that utilize the group lending methodology, lends only to women, and provides auxiliary training before and after loans.

The organization currently supports approximately 25 groups of women, with $190,000 outstanding. With Kiva’s support, THRIVE will strive to reach their goal of $350,000 by the end of 2014.

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.

Tags

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

Success!! The loan was 100% repaid

A portion of Rumuko Group's $1,250 loan helped a member stone carving and cross border trading.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 25, 2014
Listed
May 8, 2014
Currency Exchange Loss:
N/A
Ended:
Nov 17, 2014