28 weekly installments • 32%
I was born in early 1980s, being number nine in family of 15 siblings. My father was a peasant farmer on one acre farm. We didn't get enough from the farm to sustain us for a year. We worked on peoples farm to meet our family needs. My mother was a house wife.
I went to village school, both primary and secondary. My parents could not raise my fee for a boarding school. Secondary school fees was paid through manual services rendered to the school by my father. I also used to bake bricks together with my brothers during holidays and evening after school to raise our fees.
With all the challenges we managed as a family by working hard in every activity i was involved in. My objective was to change the state of our family and the community. I am sure am on the right path of salvaging my people from poverty.
I entered into farming (commercial crop production), producing maize after selling some bricks i baked on my fathers land. I later bought a poshomill for milling maize i get from farming before i sell it as flour.
The land i stay is very viable in business line. High population, good security, easily accessible and market gaps not fully exploited.
I have two children, my first borne daughter in grade one dreams of being a pilot.
My free time is more spent on research about business world and social development. My uniqueness is persistent and hard work.
I have a double business. I produce maize and I also mill maize I produce.
Maize (ugali) is a staple food to my community and that's why it's on high demand.
I chose it as it is simple to start and easy to manage. Returns are also guaranteed.
Costs include leasing of land, tilling, labour on services required, transportation, electricity bill.
Revenues include selling of maize cereals, maize flour and profit on maize mill.
Profit is ploughed back into the business and some paying for fees and food.
I want to expand my piece of land by 0.1 acre for dairy farming. I have paid the owner Sh. 100,000 out of Sh. 150,000. Expansion of land will help to add on more animals.
I decided to spread the risk by venturing into both dairy products and poultry keeping. The two are supplements in terms of risks. So I am sure I will be able to repay my loan within stipulated time.
Nov 1, 2020
Cost to entrepreneur
Service fee: $30.12
Credit risk payment: $42.17