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Update on Golden

50-year-old Golden, continues to grow his Zoona Mobile money transfers business thanks to the opportunity he has to access working capital through Kiva. He has been running the business for 4 years now and is a father of 4 and has 1 grandchild.

This is Golden’s third Kiva loan, he used his first loan to buy a new computer and increase his working capital float for his shop in Mansa. He used the second loan to open two new outlets in the towns of Kashikishi and Kawambwa. These two locations are now opened and transacting but are not yet profitable. Today Golden continues in his quest to have more mobile money transfer outlets opened. He is requesting a Kiva loan to help him finance opening another shop.

Golden's Kiva loan will serves as start-up capital for his micro-business. He will be able to purchase a trading booth, two new phones, and employ one person to do the day-to-day transactions at his new business.

Golden would like to take this opportunity to thank his lenders for their support. He is grateful for this opportunity and hopeful that he will continue to grow the business.

Previous Loan Details

Golden is very pleased to have fully repaid his first Kiva loan. The loan helped him to grow his business, he was able to purchase a new computer to make his transactions much faster. Golden says the loan he got from Kiva also helped him to increase his profit margins. He has saved enough money f... More from Golden'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
  • 5.5
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,025 helped Golden to grow his Zoona mobile money transfer business by providing funds to start a new outlet, including buying a trading booth, new phone, and employing a teller.
100% repaid
Repayment Term
35 months (Additional Information)
Repayment Schedule
At end of term
Aug 24, 2013
Jul 30, 2013
Currency Exchange Loss:
Apr 18, 2015
This photo was used before for a previous loan for Golden. It was first posted on Kiva on Apr, 2013. Learn More