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Eddie is 33 years old. He runs a small business in his hometown of Chililabombwe, a town whose main economic activity is the mining of copper. He is very happy for the opportunity to get his very first loan.

Eddie’s business deals in the supply of stationary materials, small computer accessories and relish. He also offers the services of mobile money transfers, photocopying and typing. He says most of his profits come from his mobile money transfers business.

Eddie started running his business three years ago. He does not have a building structure, but used his initiative to come up with a makeshift small shop that he uses to make his transactions. Most of Eddie’s customers are miners who send money to their families back home.

Eddie is very excited to get his first loan because it will help him to have some good working capital. Having more capital will boost Eddie’s business, as he will be able to serve more customers who want to send money at his shop.

He has hopes of seeing his business grow to greater heights. Someday, he would like to move to a shop with a proper building structure.

In the video, a representative from Zoona interviews Eddie.

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
  • $1,269,725
    Funds lent in using Kiva
  • 5,221.8
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Edson to increase the money he has available to make transfers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 22, 2012
Nov 23, 2012
Currency Exchange Loss:
Jul 17, 2013