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Update on Cecilia

34-year-old Cecilia has continued to grow her mobile money business. She explains how the business has given her a lot of opportunities and the financial ability to take care of her young child and 72-year-old mother.

Cecilia is a very energetic and hard-working individual. She enjoys her business because she gets to interact with different people and help her community by employing youth and providing a needed service. She currently employs three young adults to help with the business's day-to-day operations.

Cecilia is grateful to all her Kiva lenders for the financial support. She would like to let them know that her first Kiva loan helped her to serve more customers at her business by increasing her cash flow. With this additional capital she was able to increase her profits and is ready to expand the business by opening another Zoona outlet in the capital city of Lusaka.

Cecilia is requesting a second Kiva loan to purchase a trading booth for the new location. She will use the additional monies to help service her customers by boosting her working capital, which is used to serve the customers' money transfer needs. Cecilia is confident that once she begins to operate from the new location, she will earn enough profits to help her buy a piece of land so that she can build her own house for herself and her family one day to live in.

Previous Loan Details

Cecilia is a single 34 year-old mother with a five-year-old daughter. She operates a Zoona mobile money transfer business at a shopping center located in Lusaka, Zambia. Having been raised by her single mother, she now works very hard so that her daughter will have better opportunities and less... More from Cecilia'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
  • 6.0
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,675 helped Cecilia to purchase a new trading booth to expand her mobile money business to serve more customers in need of sending or receiving money.
100% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
At end of term
Apr 17, 2014
Mar 18, 2014
Currency Exchange Loss:
Apr 18, 2015
This photo was used before for a previous loan for Cecilia. It was first posted on Kiva on Nov, 2013. Learn More