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Update on Matokwani

Matokwani is 31 years old and married with one child. He operates a mobile money transfer business in the border town of Sesheke, located in the Western province of Zambia near the Zambezi River.

This is Matokwani’s fourth loan from Kiva. He would like to take this opportunity to thank his lenders for helping him grow his business. The previous loans allowed Matokwani to serve his customers more efficiently because of an increase in his working capital. He also has been able to grow the number of outlets he currently operates from one to two. Furthermore, Matokwani has been able to purchase a laptop and internet modem with his profits to help him serve his customers much faster and manage his accounts better.

With some of the profits from his business growth, Matokwani has been able to enroll himself to study part-time at a college institution. He also continues to pay for his niece’s school fees. He has fully repaid two of his loans and continues to do well in his business.

Matokwani has requested another loan from Kiva in order to boost the working capital float at his second outlet. He is now offering bill payments and needs more money at his second outlet to service these additional customers. He will also use part of the money to pay for his mobile money trading booth.

He thanks all the Kiva lenders for their continued financial support through the years which has enabled him to grow his business and better provide for his family.

Previous Loan Details

This is Matokwani. He runs a business in his hometown of Sesheke, a border-town located in the Western province of Zambia. He needs the loan so that he can increase his mobile money transfers working capital. This is Matokwani's story: Hello, my name is Matokwani. I am 29 years old and I run a... More from Matokwani'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
  • 2
    View loans »
    Zambia Loans Fundraising
  • $1,284,550
    Funds lent in using Kiva
  • 5.6
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,425 helped Matokwani to grow his mobile money business and 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
Mar 13, 2014
Feb 14, 2014
Currency Exchange Loss:
Apr 18, 2015