Entrepreneur
Name
Philip
Member since
July 2013
On-time repayments
82 installments • 52%
About Me
I am Philip Omekede from Awata, Okuleu location, Teso North District, Busia County. I have gone to school up to Diploma level and I passed my well. Currently am running a poultry farm. I started this project two years ago and I mainly do for commercial purpose. I started this project with just a cock and 2 hens and Currently, I have 101 chickens in my farm. At the moment there has been an increase in the demand of poultry products with the change of constitution that favours devolved Government where resources are channeled to the grass roots. With this, I want to meet the rising demand by purchasing another wire mesh to set and another farm.
My Business
I started this business two years ago; I started this farm with only one cock and two hens. With limited resources I still managed to keep and maintain them. Currently I have a total of 101 birds in my farm. Just like any other business I face competition from other market players but what makes my products perform better in the market is their affordability, and My ability as a service provider to respond to clients i.e am efficient and effective when it comes to service delivery. Apart from that my business location is very strategic and its adjacent to the potential customers’ e.g. we have three hotels which are very near, we have a school polytechnic which most of the time source my products. I also have business risks I experience especially when it comes to diseases. But with the very able team of extension service workers from the Government I have managed to get the required information and more proactive and that why am using vaccines to avoid this and for the past one year I haven’t experience such kind any pest and diseases attack. Currently am operating at a cost of Ksh 20,000 which Includes food, medicine(for Poultry) and administrative costs and my total revenue is Ksh 50,000 and if I deduct the entire cost my net profit will/is Ksh 20,000. Apart from business I also a permanent source of income from my rental house of which I charge my customers Ksh 6000 per month. I really appreciate what you guys are doing and am ready to work with you guys to make Africa the Next Business centre.
Loan Proposal
Happy new year 2014 to you all zidisha members, this is my second loan am requesting from Zidisha after successfully repaying my first loan, I managed to pay back my previous loan from the returns of my Business and am proud to see how my business has tremendously grown for that short period of time. 2013 was a great year especially for me and more particularly my business. The new Kenyan constitution that was implemented two years ago has brought lots of enormous opportunities in almost all sectors o the economy. I am a supplier of poultry and poultry products to the adjacent schools and polytechnics. Currently under the devolved Government, the County Government which in charge of county operations has sponsored various students from the poor family backgrounds to pursue their education in the adjacent schools and the nearby polytechnic. This has increased the number of my clients from the previous by almost 20%. In addition to that the central Government has sent more than 300 staff members to work in the county government this has suddenly increased the demand for poultry products in the county. Therefore, to manage the escalating demand for poultry products in the county, am planning to buy an incubator. This will make me produce chicks periodically; I will keep half of the chicks, grow them and then sale them at a later stage while I will keep another half and sale them after two weeks as chicks. By doing so, I will manage to increase my profits by 40%. As a Business person I normally save my savings monthly therefore I will add what I will get from zidisha to what I have saved for a period of time hence I will comfortably purchase an incubator without any difficulties. A part from that, I have a stable income of Ksh 6000 per month and am planning to pay back in a shortest period possible.
Thank you Zidisha and may the almighty God Bless you and your family.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$101.00
Date disbursed
Jan 5, 2014
Repayment status
On Time
Projected term
4 months
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