Status update - November 9, 2015:

In November 2015, Kiva consolidated Zoona's two accounts (Malawi and Zambia) into one account named Zoona International. Zoona is still operating in Malawi and you can find their loans posted through Zoona International.

Partner description:

Zoona helps people send and receive money when they need to most so that communities can thrive. Zoona also offers entrepreneurs an opportunity to build their own businesses and create wealth and employment by providing mobile payment solutions, financial services, business management tools and support. 

In Africa, people often rely on extended family networks and their communities to support themselves and their businesses because they are underserved and many safety nets are broken.

Zoona’s purpose is to help these communities prosper and to tap the potential in emerging entrepreneurs by providing them with a “Zoona-in-a-box” business solution. These entreprenuers make money and serve their communities as Zoona Agents.

The network of Zoona outlets in urban and rural areas enables unbanked and financially excluded individuals to transact in an easy, quick and safe manner with family, friends and other service providers.

A unique lending approach:

Kiva loans administered by Zoona will fund emerging entrepreneurs who operate as Zoona Agents to increase financial inclusion in Malawi. Borrowers will have enough credit 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 communities.

Zoona’s business model has been recognized for the impact their business is having on girls and young women in Africa. Girls in Malawi are able to get jobs as Zoona tellers, become business owners as Zoona Agents, and develop into entrepreneurs as Zoona Aggregators.

In 2014, Zoona was selected by the Unreasonable Group and the Nike Foundation to take part in the Girl Effect Accelerator program.

Watch Mike Quinn (Zoona CEO) talk at the Girl Effect in San Francisco!

 

Repayment Performance on Kiva

    This Field Partner All Kiva Partners
  Start Date On Kiva Jan 23, 2015 Oct 12, 2005
Total Loans $194,225 $923,990,800
Amount of raised Inactive loans $0 $601,750
Number of raised Inactive loans 0 272
Amount of Paying Back Loans $183,925 $140,273,000
Number of Paying Back Loans 142 170,752
Amount of Ended Loans $10,300 $783,116,050
Number of Ended Loans 7 979,916
Delinquency Rate 0.02% 8.33%
Amount in Arrears $26 $7,571,207
Outstanding Portfolio $120,399 $90,869,386
Number of Loans Delinquent 1 20,235
Default Rate 84.71% 1.37%
Amount of Ended Loans Defaulted $8,725 $10,717,799
Number of Ended Loans Defaulted 6 30,602
Currency Exchange Loss Rate 13.15% 0.46%
Amount of Currency Exchange Loss $25,541 $4,210,314
Refund Rate 0.00% 0.63%
Amount of Refunded Loans $0 $5,840,725
Number of Refunded Loans 0 5,906

Loan Characteristics On Kiva

    This Field Partner All Kiva Partners
  Loans to Women Borrowers 61.33% 75.10%
Average Loan Size $1,304 $403
Average Individual Loan Size $1,304 $635
Average Group Loan Size $0 $1,782
Average number of borrowers per group 0 7.8
Average GDP per capita (PPP) in local country $900 $5,908
Average Loan Size / GDP per capita (PPP) 144.84% 6.81%
Average Time to Fund a Loan 7.78 days 6.97 days
Average Dollars Raised Per Day Per Loan $167.48 $57.80
  Average Loan Term 23.68 months 11.1 months

Journaling Performance on Kiva

    This Field Partner All Kiva Partners
  Total Journals 0 480,267
  Journaling Rate 0.00% 41.62%
  Average Number of Comments Per Journal 0.00 0.05
  Average Number of Recommendations Per Journal 0.00 1.21

Borrowing Cost Comparison (based on 2015 data)

    This Field Partner Median for MFI's in Country All Kiva Partners
  Average Cost to Borrower 0% APR 76.00% PY 26.15% PY
  Profitability (return on assets) N/A -1.7% -0.05%
  Average Loan Size (% of per capita income) N/A 12.00% 17.77%

Country Fast Facts

Field Partner Staff

Karim Amade
lee ann
ilhaam Benjamin
Memory Chirwa
Ragmat Davids
Mary-Ann de Wet
Claudine Faurie
Lyndall Marwick
Jade September
Andrew Stewart