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James is 38 years old. He is married and has an 18-month-old baby girl. He lives in a rented house with his wife, their daughter and two of his cousins. He and his family are relocating 300 miles from his hometown of Mongu to the mining town of Kalumbila to start operating his own Zoona mobile money transfers business.

Currently, James works as a teller at a Zoona mobile money outlet in Mongu, Zambia. He has been working as a teller for three years. Understanding the mobile money business well, James would like to open his own outlet so that he can earn more income and provide better for his family. He is a big believer in the mobile money industry and the service it provides his community. Many people are in need of accessible and easy ways to transfer money in Zambia, he says.

The loan will help James purchase a small trading booth and internet capable mobile phone which he will use to serve customers. The remaining money will be used to provide James with cash-on-hand to serve his customers' money transfer needs.

James thanks the Kiva lenders for their support in giving him the opportunity to start his business after many years of dreaming this day would come.

Additional Information

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. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. 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. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

About Zambia

  • $4,100
    Average annual income
  • 18
    View loans »
    Zambia Loans Fundraising
  • $1,178,450
    Funds lent in using Kiva
  • 6.1
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped James to purchase a small trading booth and an internet enabled phone device which he will use to serve customers.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
At end of term
Aug 11, 2014
Jul 16, 2014
Currency Exchange Loss:
Jun 3, 2015