Jonas is 30 years old. He is the third-born in a family of six. He is married and has two children, ages 9 and 2. His 9-year-old son is in third grade. Jonas lives in Chililabombwe, where he operates a Zoona mobile money transfer business.
Jonas describes himself as a hard worker who has passed through a lot of ups and downs in his life. He says this makes him very strong and focused in whatever he does. He enjoys running his business because it is a way for him to provide for his family. He says he also gets to meet a lot of people in his community as he spends most of his time at his green booth, where he serves customers who need to access financial services.
Jonas will use his loan to purchase three trading booths so that he can grow his business and service more customers in need of mobile money services. He is hopeful that once he gets his Kiva loan he will be able to grow his business and earn more profits. He plans to reinvest the profits back into the business and provide a better life for his family.
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.
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.