Partner Description:

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. 
For Zambians, especially the poor, mobile money presents a new method of sending funds that is potentially cheaper, more accessible, and more secure than money transfer services, bank transfers, or requests of friends to carry cash on buses. Mobile money has the potential to significantly push the boundaries of financial inclusion, in particular, by allowing poor individuals to securely store savings on their phone, receive insurance payouts, and receive/repay on loans. 

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 abiltiy to transact in an easy, quick and safe manner with family, friends, and other service providers.

Kiva loans administered by Zoona will fund emerging entrepreneurs who operate Zoona franchise, distributor, and retailer outlets wit hthe aim of increasing financial inclusion in Zambia. Borrowers will have enough float to process mobile money transactions (such as money transfers and bill payments) for consumers, and purchase stock (such as Coca-Cola) from their suppliers.

Additionally, the loans will help existing Zoona entrepreneurs open new outlets so they can serve even more customers in different areas to help acheive Zoona's mission of helping businesses grow!

Website: www.ilovezoona.com
Twitter: @ilovezoona
FB: ilovezoona


Status Update - May 22, 2013:

Kwacha, the currency in Zambia where Zoona operates, has been re-denominated so that what was formerly 1,000 ZMK (Zambian Kwacha) is now only 1 ZMW (renamed acronym). This impacts about 40 Kiva loans that will still be in the repayment process after the currency data feeds reflecting the old denomination are retired on June 30. To adjust to this change, Kiva will keep the old currency in our system until these existing loans are fully repaid. We will begin using the new currency for Zoona loans going forward. This will not impact the lender experience, but we wanted you to be aware of the change.






Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jan 27, 2012 Oct 12, 2005
Total Loans $516,925 $592,214,975
Amount of raised Inactive loans $850 $816,125
Number of raised Inactive loans 1 663
Amount of Paying Back Loans $224,300 $116,724,125
Number of Paying Back Loans 117 124,134
Amount of Ended Loans $291,775 $474,674,725
Number of Ended Loans 104 602,242
Delinquency Rate 0.00% 4.02%
Amount in Arrears $0 $3,026,567
Outstanding Portfolio $150,308 $75,221,618
Number of loanDelinquent 0 12,360
Default Rate 9.14% 1.13%
Amount of Ended Loans Defaulted $26,669 $5,345,663
Amount of Ended Loans $291,775 $474,674,725
Number of Ended Loans Defaulted 12 16,814
Currency Exchange Loss Rate 0.99% 0.09%
Amount of Currency Exchange Loss $5,105 $538,403
Refund Rate 7.71% 0.77%
Amount of Refunded Loans $39,875 $4,537,625
Number of Refunded Loans 11 5,064

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 33.20% 74.19%
Average Loan Size $2,379 $418
Average Individual Loan Size $2,379 $656
Average Group Loan Size $4,775 $1,828
Average number of borrowers per group 2 8
Average GDP per capita (PPP) in local country $1,800 $3,429
Average Loan Size / GDP per capita (PPP) 132.19% 12.20%
Average Time to Fund a Loan 9.12 days 5.6 days
Average Dollars Raised Per Day Per Loan $260.91 $74.62
  Average Loan Term 25.67 months 10.35 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 271 296,398
  Journaling Rate 80.00% 42.38%
  Average Number of Comments Per Journal 0.18 0.08
  Average Number of Recommendations Per Journal 0.02 1.87

Borrowing Cost Comparison (based on 2011 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 4% APR 74.00% PY 33.27% PY
  Profitability (return on assets) N/A 3.2% -1.45%
  Average Loan Size (% of per capita income) N/A 10.00% 40.88%

Country Fast Facts

Field Partner Staff

Memory Chirwa
Ragmat Davids
Keith Davies
Lee Ann Lancaster
Brad Magrath
Brad Magrath
Lyndall Marwick
Marian Van der Linden