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James is 31 years old and single. He recently began operating his own Zoona mobile money transfer business. Prior to that, he worked as a teller in one of the busiest Zoona mobile money transfer shops in Chililabombwe. He enjoyed working as a teller and worked diligently for five years learning the ins and outs of the business. Through time, James developed an interest in opening his own Zoona mobile money transfer business and received permission from his manager to start running his own outlet in the nearby city of Kitwe.

James is requesting a loan, which he will use to purchase a trading booth. This loan will enable him to serve more customers as the booth will be in a good location and will attract more customers. James will earn increased profits and provide him with the ability to expand his business. James is confident that as his business grows and becomes more profitable, he will be able to spend some of his profits on furthering his own education.

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
  • 1
    View loans »
    Zambia Loans Fundraising
  • $1,216,650
    Funds lent in using Kiva
  • 6.4
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped James to purchase a trading booth.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
At end of term
Jun 5, 2014
May 5, 2014
Currency Exchange Loss:
May 19, 2015