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Update on Misozi

Misozi is now 23 years old. Misozi continues to pursue her accounting studies through evening classes while managing her growing Zoona mobile money transfer business. She would like to thank her lenders for the first loan they gave her. The loan helped her increase her working capital and paint her shop. This enabled her to serve more customers and earn more profits since her shop is now more visible to potential customers and she has cash to transact. She has been saving most of her profits in order to open two more shops; one in Kitwe's Chimwemwe compound and another right next to her main shop in downtown Lusaka.

She is requesting a second Kiva loan, so that she can increase her working capital for her newest shop which is located in the main Lusaka town. Misozi says in the business of mobile money transfers, money is always moving and as such the more customers you have, the more money you need to satisfy them. Misozi's new shop sees a lot of customers coming and going since it is located very close to many banks and the main post office. This has the potential to give Misozi a lot of customers, but unfortunately she does not have enough working capital float to satisfy them all. With her Kiva loan she hopes to never have to turn away a customer.

Previous Loan Details

Misozi is 22 years old. She owns a mobile money transfers shop in Lusaka, the capital city of Zambia. She comes from a family of five. Misozi describes her business as the service of sending and receiving money. She is very proud of the fact that she has been able to start her business from sc... More from Misozi's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.


About Zambia

  • $4,100
    Average annual income
  • 2
    View loans »
    Zambia Loans Fundraising
  • $1,284,550
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,875 helped Misozi to grow her business by expanding the working capital of her new shop so she can perform more customer transactions and increase her commissions.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Jul 6, 2013
Jun 10, 2013
Currency Exchange Loss:
Mar 17, 2014