Total loan: $4,675
Mongu, Western Province, Zambia / Services
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Mundia's loan finished fundraising,
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A loan helped to purchase a trading booth for his newest mobile money transfer shop and add to its working capital.
Mundia continues in his quest to expand his mobile money transfer business and become the biggest mobile money agent in the western province of Zambia. He has opened eight mobile money transfer shops in seven districts and continues to grow. This is Mundia’s third Kiva loan. He has repaid his first loan and is currently repaying his second one very quickly. Mundia has requested another loan so that he can purchase a trading booth that he will use to operate his newest shop. He explains that paying rentals for an existing shop every month is a heavy burden for his business. By purchasing a trading booth, he only has to pay ground rates to the city councils, thereby increasing his profit. He will also use the loan to add to his working capital, so he can serve his customers faster; he won't have to keep moving money from one shop to another in order to help his customers. Mundia says he is eternally grateful for the support he received from the Kiva lenders. He now earns more profits, helping him to take care of his family and keep re-investing in his business. Mundia’s face lights up when he explains that he was able to pay for his son’s wedding last month. He is also excited that two of his children are completing their high school this year. Mundia thanks the Kiva lenders for their support and looks forward to more engagement with them through his updates.