A loan of $575 helped buy and Sell electrical goods.

Antonio Simao's story

Antonio is 25 years old. He was born in Vilanculos in a district of the Inhambane province. He attended school through the 7th grade. He is married and has a 2 year old daughter.

Antonio moved out of Vilanculos to search for work with his uncle who lives in Namaacha, a town on the border with Swaziland. He worked for his uncle for 2 years where he only earned around 150,000MT per month, an amount that didn't cover his expenses. In 2002, Antonio decided to start his own business with money he had saved. He moved out of his uncle's house and rented a place where he still lives for 500,000 MT per month. He is now the owner of a shop that sells electrical appliances (located in the central market of Namaacha). For 7 years his best merchandise has been radios, disks and cellphone rechargers acquired in Maputo for 1,000,000 MT x5, and 35.00MT x50 and resold at 2,200,000MT and 75.00MT respectively. He has earned a profit of 5,000,000 MT and is able to save 1,000,000 MT per month.

He supports his two siblings who live with him in his home and he has an employee who earns 1,200,000 MT per month. He is building a house, as he really wants to live in his own home because renting is not at all easy.

This is his fourth loan with Hluvuku and his third with Kiva. He is confident that he will pay back the loan without any problem. The 15,000,000 MT will be used to increase his merchandise and finish building his home. The first loans were all for his business (5.500,00 MT; 7.000,00 MT and 10.000,00 MT). He is very grateful to Hluvuku and Kiva for having provided the financing to bring his great dream to reality. At the end of this year he will be able to live in his own home.

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Translated from Portuguese by Kiva volunteer Michele Magrino

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