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Meet 35-year-old Allan. He lives in a town called Mpika, in the northern region of Zambia with his wife and 7-year-old son. He offers financial services to people in his community by providing the service of money transfers and bill payments.

Allan started running his business two years ago with the start up capital of $1,000, which he borrowed from some of his family. He has slowly built up his cash and is now working with a working capital float of $2,900. The proceeds from the business help Allan to provide for his family as it is his only source of income. He says running a small business without access to loan funding has been challenging. He has worked extra hard to insure that the business remains operational.

Allan has requested a Kiva loan so he can grow his mobile money business to service more customers by providing a safe way to send, receive, and pay bills through his shop. He will add the Kiva loan to his working capital, which will enable him to serve additional customers.

Allan is confident that once he receives his loan, he will earn more profits and improve his family's standard of living.

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
  • 4
    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 $1,825 helped Allan to grow his mobile money business to service more customers in his community who need financial services.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Dec 29, 2013
Nov 30, 2013
Currency Exchange Loss:
Feb 17, 2015