Total loan: $2,025


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Lusaka, Lusaka Province, Zambia / Services

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A loan helped to generate enough capital to start running his own business as a Zoona mobile money transfer agent in Lusaka, Zambia.

James's story

James is 25 years old, from Lusaka, Zambia. Lusaka is one of the fastest developing cities in Southern Africa; however, the recent economic crisis in Zambia has left many young people without gainful employment.

James is the eldest son in a family of four. His father passed away in 2002 and his mother is unemployed. The onus is on James to keep his younger brother and sister in school and to keep the household afloat. The depreciation of the Zambian kwacha has more than doubled the cost of basic needs such as food, rent, and transport.

James is therefore looking to become part of the Zoona franchise by becoming a money transfer agent. This will allow James to provide financial services to people in his community and earn an income. The Zoona franchise provides James with a trading kiosk where he can run his business and provides him with the working capital finance needed for him to help people send and receive money. Opening the business will help his family’s financial survival and also allow him to pursue his dreams of furthering his education and become an accountant.

The challenge that James encounters is the lack of capital to buy into the Zoona franchise. It is for this reason that he has requested a Kiva loan. The loan will help him become a Zoona agent and earn a monthly stipend for 15 months when his business is projected to be profitable. The revenue generated by opening the business will go towards easing this financial load as well generating traction for his business. He hopes to go back to school.