Recreation center

Alex Katete

Lusaka Zambia, Zambia

100% repaid

Entrepreneur

Name

Alex Katete

Member since

September 2016

On-time repayments

254 installments  •  75%

About Me

My name is Alex Katete a Zambian citizen.I am a grown up youth up to the challenge of making a difference in my family and community. I have grown up in a compound ghetto of my country yet chose to be outstanding to the challenges i mate as i grew up.

My area of residence is Garden house compound which is in the hearts of the capital city of Lusaka, Zambia.
It involves different classed people of where some are working and some just do shifts in the industrial areas which comprises of different factories. It is not different from suburbs where different youth get into drug abuse.
I have now ventured into a new business of a grocery shop near a school. I aim at making it have things of convenience in my community. The shop is located near a school which makes it easier to balance up my earnings whilst serving the community and school pupils as well as the teachers.
I already bought a see through fridge from the last installment and i still have my kazang transactions machine running.
What i will do with the next loan is i firstly will buy a water boiler pot about 10 litres for the cold season to make some hot water available which costs only ZMW 5000, add a deep friear for fresh fried chips and whatever can be for snacks ranging from sausages to fish which cost ZMW 5000 attached to it is kicking with some potatoes costing ZMW 500,cooking oil costing ZMW 800, the rest of the disbursement will cutter for the transaction machine for money, talk time and bills which will balance up my pay backs.

My first child admires being a pilot and would love to become one someday. I have three children now . This is really making me work hard for their future . Not only to satisfy them, but it will help diversify youth empowerment programs on those who can manage to have discipline for programs such as Zidisha loan program.

I love to play chess and video games at my free. But my hobby is listening to documentaries from motivation speakers.

My Business

My business is now a grocery shop which am adding a water boiler of 10litres for the hot season which will cost me ZMW 5000,a frier for fresh chips and sausage snacks which will cost me ZMW 5000, kicking off supplies will cost ZMW 500 for the potatoes, ZMW 800 for the cooking oil and the rest will go into my transaction machine for Electricity,Airtime and Tv subscription units, just to mention a few among all basic domestic transactions that are paid for through wireless transactions, this will help me keep on track my weekly pay back installments.

I look forward to invest in mobile money transaction with this loan as well . Am looking at being the best service provider for these services in my community, because my services will remove the consequences of moving a great distance just to acquire them.
My business is also a support in curbing down the pandemic because this involves less physical movement and they can transact effortlessly.
This will adjust my earnings and will also help me meet the challenge of high cost of living in my country. Monthly sales attracts costs of $20 maintenance and revenue of 3% of total sales out of a month.
Will help me meet school requirements for my children and help pay home rentals and the bills.
This will help me raise my profits although not constant $40 plus a day.
I would like to thank the board of Zidisha lenders and the Zidisha team for this program.

Loan Proposal

The first on my list is to get a see through fridge that will cutter for my customers to have availability of chilled drinks as they get services from my business.
This will project my earnings for different beverages on the market. According to plan this should be summing up sales that will make me perform great in my earnings.
I will also add up some few groceries to balance it up like just necessary consumables.
The other part of the money will be used to prepare for my expected new born baby.

Income Source

My business is a manageable operation. Their is total social distance and you are obligated to limit the number of users and service hospitality.
All in all am making sure of following all the measures of having sanity always.
Always have availability of disinfectants as service seekers reach to be attended to. A bucket of running water and making sure to sanitize as you get the money.
My measures are to curb out any probability of having a virus free zone.
Am also an electrian so i make earnings out of that aswell because it is an essential role in this global moment and it is what has even helped in payments of the previous loan i had.

Kind regards
Alex Katete

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,323.46

Date disbursed

May 11, 2020

Repayment status

On Time

Projected term

12 months

Cost to entrepreneur

Service fee: $91.87

Credit risk payment: $137.83

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