Christian Snr Ababio
177 weekly installments • 85%
My name is Christian Ababio. I was born in Kumasi in the Ashanti Region of the Ghana some forty one years ago. My early childhood was characterized by lots of trade and commercial activities as I helped my mother move from baking bread for daily necessities to selling charcoal and foodstuffs to the local community. Watching closely how she endeared herself to meeting the daily needs of people saw a natural tendency of nursing an entrepreneurial spirit in me.
I had my basic education at the Services Primary School in Burma Camp (1981-1991) and then progressed to the Presbyterian Boys Senior High School (1992-1994), to the Cape Coast Technical University where I graduated with a Higher National Diploma in Marketing in 1999 and then to the Regent University of Science and Technology, graduating with a BSc in Management with Computing in 2006. Over the years I have pursued an MBA Management
I lost my dad when I was thirteen (13) years. Together with five other siblings, life became difficult for a single mother to handle alone. I had to creatively devise a means of raising some money to support myself and my siblings in school. This I did my selling eggs on campus and getting involved in a poultry project which yielded much returns to sustain my siblings and I during our school years.
Soon after graduating, I went to the driving school to learn how to drive (I have an ambition to own a fleet of taxi cabs in the near future) since it was a requirement for my first job as a Marketing officer for a Lebanese company in the capital, Accra. I understudied how these merchants got their foothold in the sales and distribution of fast moving consumer goods, having the slogan "Your direct partner". It was after working for about five years that that I had a bright idea to set up a provision shop to provide snacks in the form of pastries and soft drinks for secondary school students very close to my house after I discovered that there was no such opportunity to make students get a bite of refreshment during break times.
One unique thing about where I live is the central point for the converging of people after the school gain popularity in it few years of establishment as well as its closeness to the main road. The culture is one of a typical Ghanaian style where people living within the locality are very civil, law abiding and have a sense of industry and patriotism.
My business started as a small provision shop in the neighborhood to provide basic household daily needs for the students and the local community.
The community is satisfied with my business venture even though some competitor's have come in but due to excellent customer service rendered I can say the business is preferred above the competition.
There is always a high demand of goods and services, hence my decision to apply for Zidisha loan to enable me purchase and increase the stock levels. The provision shop is still the main business running and I will be buying more goods like bags of rice, sugar, canned fish, canned/tinned tomatoes, vegetable oil, crates of egg etc.
I entered into this business primarily because I wanted to satisfy a need of providing snacks for the students and also to take advantage of a beckoning opportunity as a student of marketing to anticipate other needs and providing them in a customer friendly atmosphere in order to turn around the initial capital and also let my investment work for me.
Thank God my younger siblings have completed their education as a result of the immense support from Zidisha.
During the difficult months when our world economy was held to a standstill resulting from the effects of the COVID-19, the business took a nose dive and almost shut down but thank God that did not happen. Today, it has began to show signs of a bounce back. The orders for the fruit drink has started picking up as a result of the easing of the restriction and the signs are very positive it will do very well.
I am still the main distribution agent for one of Ghana's most preferred natural fruit drinks - Juudy Drink. I am now getting orders to supply some eateries and the drink continues to enjoy huge patronage from the wholesalers and retailers as well as walk-in customers.
Now, I am adding another business unit to my business lines and this loan if approved will make me invest in ORAIMO accessories. I have already secured a floor space in one of the most patronized supermarket in the capital and I will need to purchase the full assortment of the available models. This is what I intend to use my next loan, which happens to be my 9th loan for.
I remain thankful to Zidisha's humanitarian assistance for the previous loans they gave me which has really helped me get this business running. I also thank Zidisha for the immense support which has helped me pay the children's school fees and to keep the family running. In addition, I am indebted to Zidisha for the human face they approached our repayment during these months of economic difficulty as a results of the pandemic.
My next loan would help me purchase and increase the Oraimo accessories models available. There are presently over 60 models available but I would trade gradually and build my capacity to stock a little of each model with the support from Zidisha until the full assortment is gained. This would give variety and choice to the clients who visit the stand. I will particularly buy phone chargers, earphones and headsets, smart watches, and the USB extension cords. Additionally, I will invest in what is trending now, the bracelets and the ear pods. This is in vogue and very appealing to the youth. This would give me mileage over and above the competition as my display shelf would be a one stop destination. I expect a high turnover of about 25 to 30% of the investment. The turnaround time, if short will help me turn the capital around quickly.
The risk associated with the business is the threat of a new lockdown restriction which would keep people from visiting the shopping centers. Thank God for the mass vaccinations going on all around the country and the world at large which is potentially opening up businesses and keeping the threat of risk at a minimum. I will resort to online marketing and delivery using dispatch riders to do house to house delivery on request. This would safeguard the business and keep the business running.
Mar 8, 2021: Accessories & more
Mar 10, 2021
Cost to entrepreneur
Service fee: 5% of $534.66 = $26.68
Credit risk payment: $107.25
Optional expediting fee: $53.54