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Zoona
Approved to post Kiva loans from: Zambia, Malawi
Kiva conducts regular, ongoing monitoring of all Lending Partners, but only posts status updates here in response to relevant, major changes at the partner.
Partner description:
Zoona, the first company in Southern Africa to become a certified Benefit Corporation (B Corp), helps people send and receive money when they need to most so that communities can thrive. Nearly 80% of people in Africa do not have access to financial services. The network of Zoona outlets in urban and rural areas enables unbanked and financially excluded individuals the ability to transact in an easy, quick and safe manner with family, friends, and other service providers.
Zoona also offers entrepreneurs the opportunity to build their own businesses as Zoona agents and create wealth and employment by providing mobile payment solutions, financial services, business management tools and support.
Once they receive a loan, Zoona agents help their communities prosper through the application of the “Zoona-in-a-box” business solution. Zoona’s network in urban and rural areas has enabled unbanked and financially excluded individuals to transact in an easy, quick and safe manner with family, friends and other service providers.
A unique lending approach:
Kiva loans fund the initial working capital and necessary equipment for young Zoona franchisees to start transacting. Loans administered by Zoona will fund emerging entrepreneurs who operate as Zoona Agents to increase financial inclusion in Malawi and Zambia.
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. Borrowers will have enough credit to process mobile money transactions (such as money transfers and bill payments) for consumers and purchase stock (such as soft drinks) for their shops. Through increased financial inclusion Zoona aims to create a ripple effect of job creation and community growth.