Funded

Total loan: $5,000
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Angela

Zambia
Solwezi, Zambia / Services

A loan of $5,000 helped to pay for her booth and increase her electronic and cash working capital.


Angela's story

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.



Loan details

Loan length:

38 months
Repayment schedule: At end of term
Disbursed date: January 12, 2012
Facilitated by Field Partner: Zoona International

Lenders and lending teams



Loan details

Loan length:

38 months
Repayment schedule: At end of term
Disbursed date: January 12, 2012
Facilitated by Field Partner: Zoona International