Agora Microfinance Zambia Limited (AMZ) was established in 2011 with the objective of providing financial services to the financially excluded (largely rural) population of Zambia.
During 2011-2017, AMZ has established 6 branches, created a clientele of almost 17,000 households, and as at end 2017, succeeded in achieving two consecutive years of full financial profitability.
With this loan, AMZ (with parent company Moringaway as investee) will be able to provide loans to:
1. For the World – Talent Business Solutions Limited
The business is located 400 kilometers west of Lusaka and is owned by 28 years old youth Mr. Watson Nyaumbu. He started the business when he was only 19 years. The business is specialised in general trading. The business has an annual turnover of ZMW 4,376,480 with 4 employees.
2. Adastra Juice Processing
Adastra Juice Processing was opened by Mrs. Charity Dumbwizi Noyoo in 2008. The company is located in Mongu about 590 Kilometers west of Lusaka. The company is engaged in Juice processing and water packaging. The company has an annuals sales of ZMW 3,531,000 and has 17 employees.
3. Other Businesses
These are Dougmak Auto Spares, Jephy Business Ventures, Yessel Fashion and General Dealers, Chiziba Enterprises, Namutwi General Dealers, Drop Night Club, Kazima Wholesale, Brother Paul, Lychikote General Dealers, Manmax General Dealers, Popos Downtown, Yachite Enterprises, Big Brothers Fashions, Overview School, Lutmak General Dealers, Kayawe Guest House, Sweat and Find Hardware, Ignatius Bisenga, Mbechi Trading.
The nineteen companies have a combined annual sales turnover of 63, 707,000 and employs a total of 150 people. They cover over 21,000 people in different operational area. The businesses vary from general trading, guest houses, agro-dealers, transportation, school and food processing.