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Steven is 35 years old and engaged to marry his partner, Kombe. He lives in a rented house with his older sister. His background is in mechanics but now Steven successfully runs a Zoona mobile money transfers business in Lusaka, Zambia.

Steven began his business a year ago with limited start up capital. Through hard work he has doubled his capital but it is still not what is necessary to service all his customers' needs to transfer money. Steven cannot service anyone wanting to send or receive larger sums of money due to his limited funds. The reason for the loan is so Steven can increase his working capital in order to service more customers and earn additional profit.

Steven loves running his business because it provides an easy way for people to transfer their money. He uses some of the earnings from his shop to support his siblings and pay for utility bills. He is very hopeful that once his loan comes in, he will earn more profits and be able to provide for his soon-to-be wife.

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
  • 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 $1,875 helped Stephen to grow his mobile money business and serve more customers in need of financial services.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Nov 28, 2013
Nov 3, 2013
Currency Exchange Loss:
Sep 22, 2014