Adding mobile phone money transfer service to my retail shop
Domnic
Nairobi, Kenya
64% repaid
Entrepreneur
Name
Domnic
Member since
December 2014
On-time repayments
253 installments • 30%
About Me
I grew in Kamser Sub-Location and schooled in Kamser Primary School upto grade five before moving to Seka Primary School for grade Six-Eight.I lost my parents be joining Oriwo High School for secondary education thank God my dad was wise enough ,as young as I was he taught me house to leave .He was a horticultural farmer growing mainly kales and tomatoes and took over after he passed on and started growing the crops on our farm which is located on shore of Lake Victoria,while I was at school,I used my saving to pay some people to take care of the farm.The farm produce were needed in my school since all children were boarding and had to eat kales everyday,sometimes lunch and supper,I became the school supplier and that catered for my fees for the four years at school.
My Business
I am currently buying and selling various consumable and non-consumable goods like sugar,flour,cooking oil,body lotions,soap,.The consumable goods are ever in high demand and that is why I chose this king of business having seen the high population.A dozen of maize floor cost $ 10 and is sold to the consumers @ $ 14 and two kilogram of sugar cost @ 2 from wholesalers and sold @ $ 3. The proceeds will be used to improve the business as well improve my life and that of my small family.I will be able to get increased profit with increased loan amount on the goods I am going to sell.
Loan Proposal
I want to add money transfer service (mpesa) to my retail shop business. there is a big demand for this service, an opportunity I have been missing. This project requires $ 500. I will add the loan amount I want to raise with zidisha to $ 150 which I have retained from my business profits. Feasibility studies has revealed that profit from this venture will be about $ 100 per month.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$357.00
Date disbursed
Aug 19, 2015
Repayment status
Late
Projected term
52 months
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