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Meet 56-year-old Sausten. He was recently widowed and has seven children. He runs a restaurant and a mobile money transfer shop in Petauke, a town located in the Eastern part of Zambia.

Sausten started running his own business after his retirement 10 years ago. When he first started, business was good as there was not much competition, but with the arrival of bigger eating places, his business became slow. It is for this reason that, in 2009, he signed up to become a mobile money transfer agent. Offering the service of sending and receiving money in his restaurant gave him the foot traffic that he needed to keep his shop open.

He says his major challenge is low working capital. He constantly has to go to the bank so that he can satisfy his customers. Furthermore, his restaurant has no electricity. This, he says, is a major disadvantage for him because he cannot serve his customers cold drinks.

Sausten needs the Kiva loan so that he can increase his working capital. This will enable him to earn more commissions from his mobile money transfer business so that he can connect electricity for his restaurant shop.

Sausten thanks the Kiva lenders.

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
  • 6
    View loans »
    Zambia Loans Fundraising
  • $1,284,550
    Funds lent in using Kiva
  • 5,249.9
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Sausten to increase his float for money transfers.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
At end of term
Dec 1, 2012
Nov 5, 2012
Currency Exchange Loss:
Sep 17, 2013