station and market of Chipata compound, Lusaka. This is Terryʼs micro-distribution center (MDC), where he sells Coca-Cola products at wholesale to local retailers.
MDCs are a distribution model that was developed by The Coca-Cola Company’s (TCCC) bottler in Ethiopia in 1999 as an innovative way to get their products to hard-to-reach urban areas. The model relies on a network of independently owned MDCs that are run by local entrepreneurs. In Zambia, entrepreneurs must invest approximately $2,500 to purchase the container and another $3,000 to stock it full of drinks to become an MDC. Today, the MDC channel represents 47% of Coca-Colaʼs distribution channel in Zambia.
Terry is 33 years old and became an MDC in June 2009 because he did not have any job security where he was working at the time. “Employment opportunities in the country were next to zero,” Terry explains. Since that time he and his wife Thandiwe have opened another location in Chazanga, and the income from the two MDCs support them and their two young children.
Terry has requested a Kiva loan so that he can order more stock for his shipping container. This will help him increase his stock and high turnover will bring him additional profit. Terry and his wife make a good team working hard to improve their family’s standard of living and provide ample opportunity for their growing children.
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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