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Future Focus Group
In this Group: Rudo, Susan, Stella
This is 43-year-old Susan from Mutare, the capital of Manicaland province in Zimbabwe. She is widowed with two children, one of whom is attending school.

Susan runs a clothing business selling foot wear and clothes, which she buys from South Africa and Mozambique. The business has been in operation for five years. She says the main challenges faced are high customs duty at the border post. Susan has requested a loan of $500 USD to buy more blouses, skirts and foot wear. She says the extra income generated as a result of this loan will allow her to take her child to a better school.

In the future, Susan plans to open a boutique shop were she will operate at a larger scale and be able to have a much bigger client base.

MicroKing has helped her so much since the loans are much cheaper than other financiers in the market.

Additional Information

About MicroKing Finance

MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.

More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.

MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”

Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About Zimbabwe

  • $400
    Average annual income
  • 0
    View loans »
    Zimbabwe Loans Fundraising
  • $3,221,875
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A portion of Future Focus Group's $1,500 loan helped a member to buy shoes, skirts and blouses for resale.
81% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 25, 2014
Listed
Aug 5, 2014
Currency Exchange Loss:
N/A