78 weekly installments • 72%
My name is Francis Daka, based in Lusaka Zambia. My business model is mobile money which I have been running for the last eight years now. I have acute mobile money business understanding due to several years of business experience.
I have been an active Zidisha community member from 2015 to-date. Due to favourable loan terms and conditions for Zidisha, I commenced loan acquisition from this platform to-date.
Zidisha has greatly, helped me expand my business at a faster rate.
The Mobile Money business is operating well and it has starting picking up. The venue where the business undertaken is operating is now known. Hopefully, by the end of December 2019, I will open another mobile money booth.
This loan will be used to expand my capital base in the business. I have been using K5000 as my capital but I will be using K 7000 as my capital until I reach K10000 as float.
This business has less risk factor because all banks in Zambia are encouraging customers to be using fund transfer in order to lessen contact with physical cash. This has made this business more lucrative than before.
Both Airtel and MTN has scrapped fees on any transfer to encourage citizens to use mobile platforms.
Mar 5, 2021
Cost of loan
Service fee: 5% of $364.16 = $18.21
Credit risk payment: $61.88