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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 designed for Zoona agents, enabling them to access the working capital they need to process frequent and large mobile money transactions. Loans can also be used to help agents open new transaction booths to serve more customers, increasing the number of Zambians who have access to mobile banking technology.
Kiva loans are structured so that a percentage of an agent's monthly revenue is used to repay. Because the exact amount of these repayments is uncertain, we have structured this loan's repayment schedule to include just one payment at the end of the loan term. That said, lenders can expect to receive payments throughout the loan term as this agent earns revenue and pays back the loan.

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.

About Zambia

  • $1,800
    Average annual income
  • 0
    View loans »
    Zambia Loans Fundraising
  • $870,100
    Funds lent in using Kiva
  • 6.1
    Zambia Kwacha (ZMW) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

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.
18% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
At end of term
Aug 11, 2014
Jul 16, 2014
Currency Exchange Loss: