Entrepreneur
Name
Cosmas
Member since
December 2016
On-time repayments
40 installments • 48%
About Me
I'm a Kenyan Male. Currently teaching Biology and Agriculture at Bygrace high school in Kibiko Ngong. Bygrace School is mainly for students from Bygrace Children's home here in Ngong. I'm so inspired to use my agricultural skills to address the climate change especially in Kenya and Africa so as to address the food insecurity which is common in this region. I'm honest and Hard working with specific interest to train young people in practical agriculture where they can be able to generate food for the themselves and the country.
My Business
Since there has been a problem of raising food to meet the demand of the children in Bygrace children's home where I teach, I'm venturing into Aquaculture (Rearing of Fish in ponds.) Our school has a bore hole and large track of Land, Fish is a very good source of protein. Fish farming has a large market here since it is not done by many people due to it high clean water demand! Through this project we'll be able to supply fish to the market and make protein available to the locals at a fordable rates but still make profit for ourselves to support children in Bygrace children's Home.
My agriculture students and myself have dug an earth pond of 8,000 fingerlings capacity. We are through with the idea stage of this business and already identified the fisheries department in Sagana-Kenya that will supply us with good fingerlings.
The fingerlings cost Kenya Shillings (Ksh.10) and will be reared for 6 months after which one will be sold at Ksh. 250. Their feeding and maintenance throughout the 6 months period is cheaper since we'll be using local feeds. This will leave us with huge profit margin to expand the business and meet the food need here at Bygrace Children's Home.
We need 2,000 fingerlings at Ksh. 10,000 = Ksh. 20,000
Fish Feeds Ksh. 10,000 (will be supplemented local feeds)
After 6 months each Fish will be sold at Ksh. 250 x 2,000-Ksh. 500000
giving us a profit of 50000- 70,000 = Ksh 430,000.
60% of the profit will go back to the business to dig and stock 2 more ponds of 5,000 fingerlings capacity. the 40% profit will be used to meet the education needs of the students and children at Bygrace Children's home.
Loan Proposal
First, thank you so much for loaning me previously! You have made it so easy for me to expand my fish farming business.
The loan I received was used to purchase fingerlings to stock my already doing well fish pond and also purchase fish feeds that will take me through for the next 2months.
Upon maturity these fish will be sold out within the local market and will attract good profit which will be ploughed back into the business and the rest profit used to support slight educational needs of girl child around our community.
I intend to expand the business by having more ponds and fingerlings and this call for more funding. This is why I humbly request that you fund my project again so to expand it and it will be able to serve more people and also offer employment opportunities to many young people.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$36.00
Date disbursed
Mar 8, 2018
Repayment status
On Time
Projected term
2 weeks
Other loans
Lenders
European Union, Netherlands
Ask Cosmas a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
Jean-Marie May 1, 2018
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