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Owen is a 27-year-old micro-entrepreneur. He operates his own Zoona mobile money-transfer business. Upon completing school in 2009, Owen began working as a teller for a Zoona mobile money outlet. During this time he was able to learn the business well and through time grew the desire to start one on his own. Because of his dedication as a teller for four years, the mobile money owner decided to help Owen start his own outlet. He provided an initial investment of $1,000, and now Owen is successfully operating his own Zoona mobile money shop. With his increased income he has been able to pay for his younger sisters' school fees as well.

Owen is requesting a loan from Kiva because he wants to expand his business and open another mobile money outlet in the town centre. He has seen an increase in demand for a secure way to transfer money from his customers. With the loan, Owen will purchase a trading booth and new phone technology, which will enable him to serve more customers.

Owen’s dream is to attend university and study business administration. He sees his mobile money business as a good first step in becoming a successful businessman.

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
  • 1
    View loans »
    Zambia Loans Fundraising
  • $1,216,650
    Funds lent in using Kiva
  • 5.3
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,850 helped Owen to purchase a new booth to expand his mobile money business to serve more customers in need of sending or receiving money.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Nov 23, 2013
Nov 1, 2013
Currency Exchange Loss:
Jan 17, 2015