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Meet Dominic: he runs a business in the mining town of Luanshya in the Copperbelt province of Zambia. He needs a Kiva loan. This is his story . . .

My name is Dominic. I am married, and I have two daughters. I grew up here in the small town of Luanshya, where I run my business of sending and receiving money. I also sell groceries.

When I first started, I used to sell a lot of different types of sweets in a makeshift stand locally known as a kantemba. I worked very hard, and it took me seven years to build my own shop in a proper building. However, things did not get any better because I did not have a lot of stock, and there was nothing to entice customers to my shop. In 2009, I started to run mobile money transfers through Zoona. My business improved because even though I did not have a lot of stock in my shop, people would come in to ask about money transfers. This gave me the foot traffic that I needed.

Now that many people have come to know my shop, the money that I have in my business is not enough to satisfy my customers. I am appealing to the Kiva lenders to help me out with this loan so that I can add it to my working capital and have the freedom to serve customers who want to send and receive money at all times.

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
  • 5,221.8
    Zambia Kwacha (ZMK) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Dominic add to his capital so he can serve more people who want to send and receive money.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Dec 22, 2012
Nov 22, 2012
Currency Exchange Loss:
Jun 17, 2013