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Angela is a 30 year old divorced mother of two. She runs her own store as a Champion Agent for Mobile Transactions in Solwezi providing money transfer services to her community. She started her business in July 2011 because she has always wanted to have a business of her own and when the opportunity came through Mobile Transactions, she took it. Within a month of starting her business Angela was already doing more than 1000 money transfers a month.

Access to financial services in Zambia is both scarce and expensive. Close to 10 million Zambians, 80% of the population, do not have bank accounts. As most Zambians live in rural areas, distance and transportation factors hinder access to available financial services. Mobile Transactions Zambia Limited (MTZL) is an early stage company that specializes in low-cost mobile money and other financial transaction service by propagating an open network using small businesses called Champion Agents. Angela is a Champion Agent. This is her story.

Angela believes her community benefits from her business in a very positive way because the service she provides is faster compared to other money transfer services and more often has enough cash to pay out receiving customers. She currently has one employee and two teller windows, which she uses to serve her customers.

When Angela receives her loan she will be able to increase her float money (electronic and cash value of her working capital) which will enable her to satisfy more customers. She also wants to use the loan money to pay for her booth which she is currently using to serve her customers. Angela is hopeful that once she has increased her float money she will be able to earn more commissions and have enough money to have her children, who are currently living with her parents in Lusaka province 12 hours away, come live with her.

In the video, a representative of MTZL interviews Angela.

Additional Information

More information about this loan

This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.

About Zoona:

Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. Zoona offers entrepreneurs an opportunity to build their own businesses and create wealth and employment through mobile payment solutions, financial services, business management tools and support. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.

About Zambia

  • $4,100
    Average annual income
  • 3
    View loans »
    Zambia Loans Fundraising
  • $1,283,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Angela to pay for her booth and increase her electronic and cash working capital.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Jan 12, 2012
Jan 27, 2012
Currency Exchange Loss:
Jan 15, 2013