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Allen
Allen is a 58-year-old father of five, ages 31, 28, 25, 23 and 20. Four of his children are currently attending high school. He runs his own business , which is a Micro-Distribution Centre where he sells Coca-Cola products wholesale to local retailers and customers. He has been running his business for 29 years now.


Allen says he loves his business because it's his only source of income and he is able to provide for his family and pay bills through the business. It also gives him the chance to interact with other business owners.

He is grateful to all Kiva lenders for the financial support he has been receiving, The loans have helped him to increase his stock and profit turnover, This has made sure he stays capable of providing for his family.

Now, Allen is requesting a Kiva loan so that he can increase his stock and working capital. Currently, he only stocks Coca-Cola and Fanta on a very small scale. This loan will help him to add Sprite and increase the volume of his product line. This increase in volume will help Allen turn over more sales and earn additional income.

Additional Information

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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About Zambia

  • $4,100
    Average annual income
  • 0
    View loans »
    Zambia Loans Fundraising
  • $1,058,000
    Funds lent in using Kiva
  • 6.2
    Zambia Kwacha (ZMW) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,450 helped Allen to Increase his soft drink stock and add Sprite to his inventory.
91% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Sep 6, 2014
Listed
Aug 21, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 3, 2015