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Florence is 25 years old. She earns her living by providing mobile money transfers at the biggest hospital in Zambia, the University Teaching Hospital (UTH).

When Florence finished secondary school, she opened her own hair salon as she was pursuing an accounting course in a town called Ndola which is near her home village. For the first year of college she remained in her village during the week to operate her hair salon and went to Ndola only on the weekends to attend classes. After one year of commuting, she closed the hair salon and used the profits from her salon to relocate to Ndola to study full time and she finally got her Technician Certificate in Accounting.

She then relocated to Lusaka, the capital of Zambia, where she started running her mobile money transfer business a month ago.

Florence says her business is very important. Growing up, she saw many people in her village try to send and receive money at the post office where her father worked. Many times people would be frustrated when the post office was unable to pay them their money.

Florence is requesting a loan in order to increase her working capital and increase the number of customers at her shop. With her shop near the hospital, many of Florence’s customers urgently need to receive money, and her shop will help them do just that.

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
  • 1
    View loans »
    Zambia Loans Fundraising
  • $1,216,650
    Funds lent in using Kiva
  • 5,259.5
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,950 helped Florence to add on to her small working capital so that she can be able to serve all the customers that come to her shop.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
At end of term
Apr 11, 2012
Apr 18, 2012
Currency Exchange Loss:
Aug 17, 2014