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Maamba is a small mining village where 21-year-old Mashekwa runs his mobile money transfer business. The small profits he earns he sends home to his parents who still work on the family farm.
Mashekwa describes his business as the cheapest and easiest way for people to send and receive money to their loved ones. He says the services he offers have been well received in Maamba because his business is welcoming and as such he has been able to integrate very well in the community. From the time he started, Mashekwa has increased the number of customers he has each day from 10 to 20. The number of customers he can have in a day is limited to the amount of working capital he has. This means that Mashekwa is not able to serve customers who want to send or receive money that is larger than his working capital of $500. This means that Mashekwa loses out on profits and disappoint his customers.
He has hopes of seeing his business grow to greater heights. Someday, he would like to open more mobile money transfers outlets in other rural areas.
When he gets his Kiva loan, he would like to use the money to increase his working capital. This will enable him to make more profit to send home to his parents.

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
  • 4
    View loans »
    Zambia Loans Fundraising
  • $1,284,550
    Funds lent in using Kiva
  • 5,312.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,900 helped Mashekwa to increase his working capital. This will enable him to serve more customers and give him more profit to send home to his parents.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Mar 28, 2012
Apr 13, 2012
Currency Exchange Loss:
Oct 23, 2015