Kelvin runs his own business, which is a Micro-Distribution Centre (MDC), where he sells Coca-Cola products at wholesale to local retailers and customers. He has been running his business for close to seven years now. Kelvin says he loves his business because it is a way for him to provide for his family’s basic needs like food, shelter, and education. When asked how his community benefits from his business, Kelvin is quick to say that his business provides to other small business owners in his community a place where they can order soft drinks without having to spend any money on transportation to go to Livingstone which is 45 miles away.
Today, Kelvin is requesting a Kiva loan so that he can purchase more stock such as Fanta, Coca-Cola and Sprite for his customers. By purchasing this additional stock, it will help with expanding his business and profit. He says the anticipated increase in his profits will help him provide a better life for his wife and children.
Kelvin has high hopes for the future. He has dreams of being able to distribute a variety of Coca-Cola products on a very large scale to his community. He thanks the Kiva lenders for providing him with the opportunity to grow his business.
More information about this loan
This loan is part of Zoona's effort to provide working capital to micro-distributors in Zambia. Passionate about helping businesses grow by combining financing and electronic payment technology, Zoona provides loans to incentivize people to switch from cash to mobile payments, increase their stock levels, and open new mobile money outlets. The micro-distributors who receive these loans have been unable to access affordable credit from commercial banks. With Zoona, they can make sustainable income while increasing mobile money adoption in rural Zambia.
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.
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Success!! The loan was 100% repaid