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Lawrence, age 25, has just completed training to start his own Zoona mobile money-transfer business. He is seeking a Kiva loan to kick-start his business operations in Mazabuka, a town in the south of Zambia.

Lawrence describes himself as someone who enjoys interacting with people and learning from others, traits that will be sure to help him thrive as a Zoona agent. He is excited to become a Zoona agent, as this will help him improve his family’s standard of living—an important role in a family of seven.

Lawrence will use his Kiva loan to purchase a Zoona-branded trading booth, from which he will serve customers. The booth will cost him approximately $820 USD. He will also use the money to purchase a mobile phone, a key piece of equipment in running a successful mobile money business.

After high school, Lawrence completed public administration coursework at the University of Zambia. With his Kiva loan, Lawrence hopes he can carry out his contribution to society by employing other Zambian youth in his business.

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
  • 4
    View loans »
    Zambia Loans Fundraising
  • $1,272,125
    Funds lent in using Kiva
  • 6.1
    Zambia Kwacha (ZMW) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Lawrence to purchase a Zoona-branded trading booth, from which he will serve customers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
At end of term
Aug 11, 2014
Jul 16, 2014
Currency Exchange Loss:
Jun 3, 2015