Greetings from Zimbabwe! This is 50-year-old Sheila from Bulawayo. She is a single mother with one child. Sheila runs a retail business. She sells a variety of clothing and footwear items for men, kids and women. The business has been in operation for 13 years. She says the main challenges faced that she faces are competition from bigger retailers and exorbitant import duties at the border. Sheila has requested a loan of $400 to replenish her stock and buy a new stock for winter. She says the extra income generated as a result of this loan will allow her to improve both her business and her lifestyle. In the future, Sheila plans to open a clothing boutique.
About MicroKing Finance
MicroKing's loans are guaranteed against institutional default (failure of MicroKing to repay Kiva lenders if the borrower repays MicroKing) by MicroKing's parent company: Kingdom Financial Holdings Limited.
More About MicroKing
This loan is administered by MicroKing Finance, Kiva’s first partner in Zimbabwe.
MicroKing’s mandate is to provide financial services integrated with advisory services and targeted training to the under-banked but rapidly growing Zimbabwean micro-enterprise sector. The intent is to mobilize the underprivileged as active agents in fighting poverty as well as to accelerate the country’s journey back to economic prosperity where Zimbabwe was once known as the “bread basket of Africa.”
Zimbabwean micro-enterprises are generally run by women and comprise a multitude of business types. Constraints on local production and manufacturing capacity have led to cross-border trading being the most common type of business.