Buying of water pump for irrigation to farms

Seth Afari-boateng

Accra, Ghana

100% repaid

Entrepreneur

Name

Seth Afari-boateng

Member since

December 2014

On-time repayments

267 installments  •  86%

About Me

Seth Afari-Boateng is my name. I am 22years of age. A recent graduate of the Presbyterian University College in Abetifi,Ghana. I studied Bsc. Mathematics with Statistics.

The town i had my university education that is Abetifi is sorrounded with over 13 small villages with population close to 50 for each.

Whiles in school, i had the opportunity to visit most of these villages by forms of outreach programmes to teach and impact the young ones the importance of Mathematics in education and life as a whole.

My Business

Upon my visit, i realised the main occupation of people there are farming and livestock. And even with that its very difficult for thier produce to be bought since road networks to the villages are very poor and bad in condition. This has then made their produce lie waste and rot after harvest. Their livestock also tend to grow old and later they consume it themselves.
I then made it a promise to help them sell thier produce and livestock whiles in school buy gathering money from friends and going to these villages with a small truck to buy and convey the livestock and produce back to the town markets for sale.

I first gathered 150cedis = $45 from friends.

I rented the truck for 50cedis=$15 for a day, bought livestock and farm produce with the extra 100cedis=$30 from them.

I later brought the goods to the town market and sold all and made a profit of 50cedis=$15 from the sale.
I repayed all the monies to took from friends and had about 20cedis=$6.3 for myself

This brought many smiles and happiness to their lives because the money the recieved made them enroll their children school and also have some money on them for upkeep of their farms and homes.

I then continued this activity once or twice every month depending on my schedule in school. I sometimes breaked even with me benefiting nothing but i was so excited anytime i get to the villages and see them with smiles of me coming to give them hope.

Loan Proposal

Water irrigation is one problem for the peasant farmers in the village I helped in my first loan. They have now started to grow major vegetables that sell quick in the town market but irrigation is a problem to them.

I intend to use this loan to get the farmers a water pump which costs $224 = 900GH. With the help of this loan of $170 = 638GH($150 = 588GH after deductions) I would top up extra $80 = 322GH to purchase a mid-end high quality water pump that would be used to pump water from a nearby river along the farms to the farms to enable the vegetables yeild fast enough for them to harvest their crops.

This water pump would be used by 6 farmers in the vicinity. This would enhance the farming and also decrease man-power labour of farming.

They would then pay back by using profits yeilded from their weekly sales at the town market.

Please help fund this loan and keep the dreams of these farmers to be an existing one forever in their lives.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$159.25

Date disbursed

May 28, 2015

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Service fee: $4.05

Lenders

joerg

Berlin, Germany

JOKer

Weisendorf, Germany

C

Crainster

Chapel Hill, United States

G

GEMMGMT

United States

Jeremy

Washington State, United States, United States

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