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Update on Ronny

Ronny is 31 years old. He runs his own mobile money transfer business. He is married and has two young children, aged six and four. Ronny is a very hard working man. He raised the working capital to start up a Zoona mobile money transfer business through street vending a year ago. Today he runs his business with confidence and is very happy that through the business he is able to provide for his family and pay his rentals.

Ronny has big plans for his business; he plans to expand by opening another outlet. The one thing holding him back is that he faces a challenge with working capital. He accessed his first Kiva loan and used it to boost his working capital float. He also purchased a new phone, which he uses to facilitate transactions. He is grateful for the financial support from all the Kiva lenders. This has made it easier for him to satisfy his customers.
He is applying for his second Kiva loan to expand his business and buy the equipment needed to be successful. This expansion will help him to increase his revenue. He hopes to keep growing his business so that he will be able to provide his family with a better standard of living.

Previous Loan Details

What is your background? My name is Ronny. I have two children, aged six and four years old. I am married and my wife runs a farm. When I competed high school in 2002, I did not have money to go to college and so I sold small things in the streets. Street-vending made me the person I am today be... More from Ronny'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
  • 3
    View loans »
    Zambia Loans Fundraising
  • $1,283,000
    Funds lent in using Kiva
  • 5.5
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,625 helped Ronny to purchase a new booth to expand his mobile money transfer business, and serve more customers in need of sending or receiving money.
100% repaid
Repayment Term
32 months (Additional Information)
Repayment Schedule
At end of term
Jan 3, 2014
Dec 4, 2013
Currency Exchange Loss:
Apr 18, 2015