Umodzi group

Katete, Zambia, Zambia

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34282
34282
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34282 - thumbnail

Umodzi group needed £2404.40 for their business.

Amount Requested

Amount requested:

£2404.4

Repayment term

Repayment term:

6 Months

Activity type

Activity type:

Retail - clothing

MFI Partner

MFI partner:

Microloan Foundation Zambia

This is a group loan to the Umodzi group, which means ‘Oneness’ in the Katete district of Eastern Zambia. There are 10 women in this group aged between 25 to 60. Some women are married and some are divorced and have children who are in school. They run small scale businesses like grocery and market stalls. These women have different reasons for starting their businesses, such as being able to send their children to school and provide for daily needs of their families. This group is requesting its eleventh loan, which they will use as top up capital for their businesses.
Vaines Lungu, 29 years old, is a member of this group. She is divorced and has two children who are in school. She runs a ‘nthemba’ (a small grocery stall) selling soap, eggs and lotions by the roadside in her community. She is requesting this loan to order more stock of soap and eggs for her stall. From the profits of her sales, she hopes to see her business grow into a grocery stall where she will be able to stock almost everything. She also hopes to build a house for her family. Before she started her business, she was not able to contribute financially to her family but now she is able to.

loan added: 12 April 2018

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Umodzi group's loan Repayment schedule

Date Expected repayments Actual repayments
April 2018 £218.58 --
May 2018 £364.30 --
June 2018 £364.30 --
July 2018 £364.30 --
August 2018 £364.30 --
September 2018 £364.30 --


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