25 weekly installments • 32%
I am a Zambian citizen who has always been interested in entrepreneurship in addition to my profession as a Development Consultant and a SRHR and GBV Advocate working with Community based organizations. I believe in the power of people coming together to achieve common goals and objectives by pooling resources and skills and helping those who are marginalized or disadvantaged. Working with ordinary hardworking people community livelihoods improvement programs encouraged me to venture into aquaculture as a small business project which I intend to scale up.
I am currently setting up an Aquaculture Integrated Project that has began with the production of Catfish, first for local consumption and when the business grows I intend to begin exporting to neighbouring countries starting with DRC where demand for Catfish is very high. I started with 1 pond and wish to expand to as many as 10 ponds to produce enough Catfish for export.
The loan will be used to pay for equipment for the expansion of the project to 2 ponds. The equipment to be bought with the loan include Sein nets for sampling and harvesting the fish, plumbing for the water reticulation system, buckets and gloves, notebooks and pens for record keeping. Other equipment will include water quality sampling meters and water disk, shovels and a wheelbarrow all of which will be used mainly in the maintenance of the second catfish pond.
Given the current climate where COVID-19 has affected many small businesses, I ensure that I continue earning the money to repay this loan by increasing the quantity of the harvested catfish, be innovative in my business model by adding incentives for customers such as delivering the product within a certain cost-effective radius, package the fish in various innovative ways to attract more customers. I will also ensure that I advertise the business aggressively via word of mouth and social media which are very cost effective channels of communication in a business. I will also take advantage of various opportunities to make sales such as during Saturday Markets all over the city.
Mar 5, 2021: Catfish feed production project
Dec 24, 2020
Cost to entrepreneur
Service fee: 5% of $152.09 = $9.99
Credit risk payment: $21.95
Optional expediting fee: $19.98