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Meet 36-year-old Victor. He is married and has three children. He runs a drugstore and mobile money transfer shop with his father Athanasius. Victor is very proud that the very first Zoona Mobile money transfer was done at his shop in Nakonde.

Victor stays in Nakonde, a town that is one of Zambia's major border posts in the Northern province. He and his father have been running the drugstore for 12 years. He added mobile money transfers to his business three years ago and boasts of being the very first agent to do a Zoona mobile money transfer. He says he loves the business because it's easy for customers to obtain drugs and send or receive monies to or from their loved ones and for business purposes.

With the Kiva loan, Victor will be able to add to his working capital, so that he can serve more customers who want to send or receive large amounts of money. This will help him earn more commissions. He says the commissions will help him to save up so that he can open up another mobile money transfer shop.

Victor is convinced that the loan will give his business the boost that it needs and help him to take care of his family.

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
  • $1,272,125
    Funds lent in using Kiva
  • 5,080.0
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Victor to increase his working capital so he can serve more customers who want to send or receive money.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Nov 12, 2012
Nov 12, 2012
Currency Exchange Loss:
May 17, 2013