Mobile-phone payment-transfer center for my community
Samuel
Mazeras, Kenya, Kenya
100% repaid
Entrepreneur
Name
Samuel
Member since
August 2013
On-time repayments
144 installments • 87%
About Me
I am a social and kind individual from a small town, Mazeras, in Kilifi County, Kenya. My typical day is a 12-hour work period and a 3-hour bonding with people I know in my area. I find interactions with people very enriching. I get to learn better ways of doing things. I simply love company though I come from a family of four. My deepest interest is solving problems; no wonder I am in this kind of business. Some problems take so little effort to solve that no one need be troubled when I am available.
My Business
After college in 2010, I had a hard time finding gainful employment. Being a passionate entrepreneur, I immediately realized a technological gap in my area. I started a one-computer cybercafe where I assist people in accessing email, downloadable forms and social networks like Twitter at a reasonable fee. I also got tasked to create new Facebook, Twitter and email accounts. Occasionally, I get to troubleshoot faulty computers and replace parts for clients, Additionally, I sell a few mobile accessories. I cannot complain about my business because I use the profits for meeting my bills and support my mother alongside.
Loan Proposal
I have carried on an M-Pesa sub-agency for about a year now, and I have a better understanding on how commissions are earned. A sub-agent may work super hard at her business but is always disappointed by her monthly commissions earned. Most of the time the super-agent has set the commission sharing ratio in such a skewed way to favour him against the sub-agent (sometimes super-agent:sub-agent=60:40). Safaricom recommends 20:80 because the sub-agent puts own funds and time into the business with likely losses to fraud from occasional con men.
Subsequently, I have chosen to go the super-agent way by applying for my M-Pesa tills directly from Safaricom. However, this has its own huge initial costs attached. One has to register a limited company (which averages at KES 35,000). One also has to provide at least KES 100,000 in float amount for each M-Pesa till to be booked at application stage. Notwithstanding, I plan to raise this loan and source the remaining amount from savings, personal sources and apply for at least 3 tills at Safaricom. This move will ensure I earn reasonably high commissions and improve my life.
About Me
Am a hardworking man as I work at least 12hrs a day. My life is around people that make my existence worthwhile. I strive to improve all people around me. So I provide solutions to mobile phone manipulation challenges and make online applications for customers at my shop.
My Business
I love what I do with a passion. offer solutions to almost anything a mobile phone can prove challenging. From settings to activating subscriptions and making online applications for customers. And I always offer my services at affordable prices thanks to your financial help. Many customers appreciate my apt services and have made me the man-to-go-to in my town.
Loan Proposal
I have carried on M-Pesa sub-agency for about a year now and I have a better understanding on how commissions are earned. A sub-agent may work super hard at her business but always disappointed by her monthly commissions earned. Most of the time the super-agent has set the commission sharing ratio in such a skewed way to favour him against the sub-agent ( sometimes Super-agent:Sub-agent=60:40). Safaricom recommends 20:80 because the sub-agent puts own funds and time into the business with likely losses to fraud from occassional conmen. Subsequently, I have chosen to go the super-agent way by applying for my M-Pesa tills directly from Safaricom. However, this has its own huge initial costs attached. One has to register a limited company ( which averages at KES 35,000 ). She also has to provide at least KES 100,000 in float amount for each M-Pesa till to be booked at application stage. Notwithstanding, I plan to raise this loan and source the remaining amount from savings, personal sources and apply for at least 3 tills at Safaricom. This move will ensure I earn reasonably high commissions and improve my life.
Feedback
Positive
21
Neutral
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Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,684.00
Date disbursed
May 14, 2015
Repayment status
On Time
Projected term
23 months
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Ask Samuel a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
jjonas Jun 26, 2019
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