In the coming period there are different conditions for this partner. More information can be found here.
- The interest rate has been temporarily increased by 0,5 percentage point to accommodate the growing uncertainty associated with COVID-19.
- In addition, this investee is allowed - provided they continue to comply with the applicable covenants - to refinance future repayments to Lendahand investors with the funds raised from this project.
- Repayments occur after 12 months, not after 6 months (grace period).
Agora Microfinance was created in 2009 and began operations in 2011 after 2 years of initial research and preparatory work. Agora Microfinance N.V. is incorporated in the Netherlands as a holding company. Moringaway is an investment company that is domiciled in Mauritius. The investment companies are advised by Agora Microfinance Partners LLP, based in the United Kingdom.
Information document issuing entity (NL)
Information note issuing entity (BE)
With this loan the following entrepreneurs can be financed:
1. Uncle Reevs Enterprises
The business is located with Lusaka and is owned by Mr. Reeven Kandula Mwiinga. He started the general merchandise business in 2004 with capital of ZMW 20,000. The business has an annual turnover of ZMW 243,600 with 3 employees. This is the fourth loan he is getting from Agora Microfinance Zambia. The first loan was ZMW 25,000
2. Other Businesses
The other businesses being funded are Sage Auto Spares, Nkumuso Enterprises, Hamz Enterprise, Taisit Hamz Trading, Kelvin Maseka Distributors, F.N.Lufunda General Dealers, Hot Metal, Manduka Investments, Caribean Mini Mart, Pyokani Muwowo, Abichas Enterprises, Tioloke General Dealers, Panchenya Enterprises, Eagles' Nest Academy, Waliulwa Stores, Chilunda Mufuka, Tatamwi General Dealers, F.N Lufunda General Dealers, Manduka Investments, Caribean Mini Mart, Kelvin Maseka Distributors and Hot Metal Trading.
The 28 benefiting businesses have a combined annual sales turnover of ZMW 42,786,000 and employs a total of 154 people. They cover over 20,000 people in different operational area. The businesses vary from general trading, lodges & guest houses, agro-dealers, transportation, school, construction, food processing and real estates.