Clement Wewotah Abagna
24 weekly installments • 33%
• My name is Clement Wewotah Abagna, I’m a young man of thirty years old and hail from Navrongo in the Upper East region in Ghana. I was born on 8th August, 1990 and brought up in a town called Techiman, now the capital town of Bono East region where I had my basic education from 1998 to 2008. Currently I’m a final year student of University Of Energy And Natural Resources (UENR) in Sunyani, the capital town of Bono region pursuing BSc. Mathematics. While in basic school, I helped my illiterate parents in their subsistence farming to enable them raise money to cater for the family. Being the youngest of eight siblings with exceptional vision, I worked very hard in all the assigned duties by my parents with clear conscience, integrity and faithfulness and fortunately, this has been my attitude and behavior till today. Having successfully completed basic education with excellent grades in 2008, I could have gained admission to one of the credible Senior High Schools in the Southern part of the country, but chose to study in Wa Senior High School in the Northern part of the country in order to stand the chance to enjoy northern scholarship to ease the financial burden on my parents. Being a General Science student, I pursued: Elective Mathematics, Chemistry, Physics and Biology as elective subjects and English Language, Core Mathematics, Science and Social Studies as compulsory core subjects. In 2012, I completed Senior High School with another set of excellent grades but unfortunately I could not further my education immediately due to financial constraints. So I went to Greater Accra, the capital city of Ghana and hustled for five years to raise money for my university education. God being so good, I was able to start my university education in 2017 and also started a small business in 2018 where I purchase few used laptops at whole sale price and sell to students and other people to make profit to support myself in school since my parents were poor illiterate aged and there were no longer in actively working to support me. So as stated above, currently I’m a final year student of University Of Energy And Natural Resources (UENR), pursuing BSc. Mathematics and double as an Entrepreneur and with special interest in giving Transformational Leadership Training to youth and women by giving them business ideas and also help them financially to establish their own businesses to eradicate poverty in the deprived communities.
In 2018, I established a small business in Sunyani, the capital town of Bono region where I purchase few used laptops at wholesale prices and sell to students and other people to make profit. Due to inadequate capital, I’m always unable to purchase the laptops in high quantity, but the few I could purchase does not last beyond a month to sell, since I do not price them high. I have studied from Economics that: “The lower the price of a commodity, the higher the quantity demand”. For instance, the first time I was able to purchase five of the laptops at GH¢500.00 each I made GH¢200.00 each in barely a month. The profit I realize from this business is partly used in increasing the enterprise and part used in paying for my education and buying of books. Presently there had been a high demand of laptops, especially among the final year students who are doing their project work. Sunyani, the capital town of Bono region is mining community, with a many small scale mining areas. Therefore, I also started buying gold from small scale miners to sell. This is also a fast moving business. Part of the profit from the business is put back into my business to make bigger in the future and also part into my education and to aged parent and also my siblings.
A great man said that “Your Credential Cannot Move You Higher In Life Without Your Potential”. My largest dream is to expand my laptops business to help me pay for education expenses and also orient communities especially the youth to identify their potential and to acquire the necessary skills in order to become expertized entrepreneurs and to stand the chance to establish their own individual businesses so as to eradicate poverty in these deprived communities. To be profitable in life, one needs inventive and prescient dream, a burning desire, a capital, an enterprise layout expertise experience and a product of ‘EEE’; Essential for Everyone Everyday’’. The motive why my merchandise is EEE is that in this 21st Century, almost every educationalist needs electronic gadgets like laptops for studies, research and businesses. There was once an assertion that “If You Can Solve People’s Problems, Automatically Yours Is Solved’’. Apart from this, I have unique qualities that make my dream to be achievable. I have a high commitment to everything I do and everyday notion that make me unstoppable. But to reach the apex of my dream, I need connection with the able lenders of Zidisha to make my dream come into reality. So considering the income I realize from my business, I would be able to pay my mortgage on time to stand a greater chance to take another loan.
Though a student, I double as gold buyer and seller where I link up with people who live in the mining communities to get gold available for me. With the amount I have at my disposal, I'm able to buy and make more than 200% profit. But due to the inadequate amount of money I use in this business, I'm unable to buy the gold in high quantity. But I'm positive that the loan I will get will help me to buy the gold in high quantity and expect over 200% profit.
I therefore humbly crave your indulgence to my business and request you grant me the requested loan amount.
With reference to the loan proposal above, it's clear that I earn over 200%. Out of this amount I will be truthful to your company and diligent in the repayment so as to enable me stand the chance to get another loan and even more amount. By this I can pay the loan in due time.
Dec 28, 2020
Cost to entrepreneur
Service fee: 5% of $174.25 = $8.16
Credit risk payment: $16.48