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John
John is a 50-year-old father of four children, ages 22, 18, 19 and 12. All his children are currently attending school. He lives in Ndola, located in the Copperbelt province of Zambia, with his wife, children and their four dependants. He runs his own business, which is a Micro-Distribution Centre (MDC), where he sells Coca-Cola products wholesale to local retailers and customers. He has been running his business for 25 years now.

John says he loves his business because it is a way for him to provide for his family rather than solely depending on his day job. When asked how his community benefits from the business, John is quick to say his business provides a local location to other small business owners in his community to purchase soft drinks. Without his location, small businesses would have to travel to the city and waste time and money on transportation.

Now, John is requesting a Kiva loan so that he can increase his line of products. Currently, he only stocks Coca-Cola and Fanta in glass bottles, 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 John turnover more sales and earn additional income.

John has high hopes for the future. He dreams of being able to distribute a variety of Coca-Cola products, on a larger scale. With his profits, he plans on making sure his children get a good education.

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.

Tags

About Zambia

  • $1,800
    Average annual income
  • 0
    View loans »
    Zambia Loans Fundraising
  • $870,100
    Funds lent in using Kiva
  • 6.2
    Zambia Kwacha (ZMW) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,450 helped John to add Sprite and increase the volume of his product line.
5% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Sep 5, 2014
Listed
Aug 21, 2014
Currency Exchange Loss:
Possible