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Update on Victor

Victor is 39 years old and is married with three children. He has a college degree in business accounting studies. He currently operates a mobile money transfer business, which is his only source of income.

Prior to starting his mobile money business, Victor worked as an accountant for a company in his hometown. The pay was very low and he was looking for a way to better provide for his family. After a friend introduced him to Zoona mobile money he invested the money he had saved into opening an outlet. Shortly thereafter Victory applied for a Kiva loan and used the money to increase his working capital so he could serve more customers and earn additional profits. Now, Victor is able to take better care of his family and pay his boys' school fees. He finished paying off his first loans and now Victor is requesting a second loan to open a second outlet. He sees an opportunity to expand his business but has capital constraints to open the new shop and have enough working capital to service customers.

Previous Loan Details

Meet 36-year-old Victor. He is married and has three children. He runs a drugstore and mobile money transfer shop with his father Athanasius. Victor is very proud that the very first Zoona Mobile money transfer was done at his shop in Nakonde. Victor stays in Nakonde, a town that is one of Za... More from Victor'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
  • 5
    View loans »
    Zambia Loans Fundraising
  • $1,274,000
    Funds lent in using Kiva
  • 5.6
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Victor to expand his business by opening a second Zoona mobile money transfer shop in his hometown.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Jan 11, 2014
Dec 14, 2013
Currency Exchange Loss:
Apr 18, 2015
This photo was used before for a previous loan for Victor. It was first posted on Kiva on Nov, 2012. Learn More