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Constance is 21 years old. She would like to be in college and do what people her age do, but she can’t because she did not have the money to pay college tuition. Constance has not given up hope of ever going to college. She has started a business as a mobile money transfer agent in her home city of Chingola in the Copperbelt Province of Zambia.

Constance’s biggest dream is to expand her business beyond her home town. She intends to be able to handle huge sums of money as this will enable her to have more profits. However, Constance faces the challenge of having little capital for her business. This means that she cannot conduct transfers that require large sums of money to be received or sent. When she gets the loan, she intends to increase her working capital so that she will be able to handle bigger transfers of money. When she has grown her business, Constance wants to go to college while continuing to run her business.

Constance is convinced that her business is helping her community because many do not know how to read and write and her money transfers do not require complicated paperwork. Also, she provides personalized services so her customers always get all the help they need. This, she believes, is the competitive edge that her business has that will help make enough profits to realize her dream of going to college

In this Video, Constance is being interviewed by a representative from Mobile Transactions.

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
  • 2
    View loans »
    Zambia Loans Fundraising
  • $1,284,550
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Constance to increase her working capital so that she can handle bigger transfers of money.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Jan 30, 2012
Feb 6, 2012
Currency Exchange Loss:
Aug 17, 2013