100%

funded

Total loan: $1,750

Patrick

Flag of Malawi
Lilongwe, Central Region, Malawi / Services

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A loan helped To generate enough capital to expand his mobile money transfer business in Malawi.


Patrick's story

Patrick is a 25-year-old young man from Lilongwe in Malawi. Patrick lost his parents when he was quite young and had to struggle through life on his own. This made him very passionate about helping youth who have potential, but lack capital and opportunity to make something of themselves. This is what prompted Patrick to become part of the Zoona franchise by becoming a Zoona agent. He saw an opportunity, not only to better the state of financial exclusion in his community, but also to create employment for young people. East Africa faces an enormous problem where most locals are unbanked because formal banking services are too expensive. Patrick has taken a safe, reliable and fast money transfer platform to his community. Not only is this eliminating the ridiculous distances people had to travel to send and receive money, but it is strengthening the local economy. The problem is, Malawi is in the middle of an economic crisis. This makes it difficult for smaller businesses to thrive. Patrick is reaching out to Kiva because he would like to boost his working capital and expand his business into more locations in Malawi so that he can employ more youth and brighten their future. Zoona has done market research, and has found that the locations Patrick is looking to expand into would be ideal for traction he envisions for his business. Patrick thanks the Kiva lenders for their support.