I.C.T. center for young entrepreneurs

Cornelius Nartey

Prampram, Ghana

21% repaid

Entrepreneur

Name

Cornelius Nartey

Member since

December 2013

On-time repayments

383 installments  •  17%

About Me

I am involved in designing and providing support to young entrepreneurs. I developed interest in this work when I join a community development organisation in2003. I was inspired by the sincerity and enthusiasm of the leaders as they worked passionately to drive away poverty, diseases and corruption from Ghanaian communities. Whatever attracted me to this organisation must have a lot other volunteers from near and far. Their project teams are always composed of volunteers from different continents. They operate from a small rented office for headquarters and prefer to partner local community centers in setting up their numerous field offices.

My Business

Currently, I spend part of my day working for a non-profit I lead. The rest of the time I engage in some income generating activity - that invariably try to address certain needs.

For instance, in order to contribute to efforts aimed at alleviating the effects of water shortage in my community (which forms part MDG 7), I used my first and second loans to improve a water supply business, I started last year.

In this business, I store and supply pipe-borne water to needy families. I assist families that cannot afford water tanks and can have only a limited a quantity of water at a time. During shortages, these families have to resort to water that often comes from open holes dug in the sand of dry riverbeds, and it is invariably contaminated.
This business provides them with clean, safe water anytime, whether there is a shortage or not

Loan Proposal

With this loan, I would like to support young entreprenuers by setting up an ICT Center. Small businesses are important for poverty reduction yet most communities in Ghana lack the infrastructure to educate and enrich the lives of their young entrepreneurs. In particular, entrepreneurs lack the opportunity to obtain affordable Internet access and computer equipment to facilitate access to technologically-enhanced learning and entrepreneurial support that enables them to learn new business concepts, new technologies and gain prospects for their existing business. There are no or fewer libraries and existing libraries do not offer internet access nor updated books.

This makes ICT and knowledge access very expensive for the poor business owner. The ICT Center would facilitate news and information that will benefit entrepreneurs; education and training (including apprenticeship, self-study and the incorporation of the value of self-employment) among young people from low-income families; linkages, networking, online coaching and mentoring especially for the youth by training them in business and technology skills, basic economics and micro-finance among others.

50% percent of the loan amount would be used to acquire a rented place for the center. I would add my savings to the remaining loan to buy computer equipment and learning materials like books and CD ROMS. Income from the project would come from fees.

Feedback

5

None

3



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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,592.25

Date disbursed

Sep 8, 2014

Repayment status

Late

Projected term

83 months

Cost to entrepreneur

Lender interest: $1,592.25 at 5.81% annual rate over 83 months = $638.67

Service fee: $279.17

Lenders

joerg

Berlin, Germany

G

GalantnostS

Hong Kong, Hong Kong

KYLE LARSON

Little Falls, United States

C

chkuo

Taipei, Taiwan

nicole

Worcester, Ma, United States

Rdcmole

Cincinnati, United States

ErikN

Stockholm, Sweden

J

jjonas

berlin, Germany

F

florian

Mettmenstetten, Switzerland

G

graememoss

Amsterdam, Netherlands

gbnbca

Janeville, Canada

A

aiban

Austin, United States

M

Mårten

Inden, Switzerland

Levanticus

Epsom, United Kingdom

juliemartha

Lake Mary, United States

ads68

Melbourne, Australia

H

halisi

assenede, Belgium

DT

Dru Tarr

Gloucester, United States

davidt

San Francisco, United States

Bobrm2k3

Charleston, United States

calvero

Bergen, Norway

joaoferraz

RINCHOA, Portugal

Jason

Auckland, New Zealand

Hedwich

Gorssel, Netherlands

W

WinWinNL

The Hague, Netherlands

jan73

Eugene, United States

Sarasota

Sarasota, Fl, United States

E

Evanstia

Lakewood, United States

A

Anonymous

United Kingdom

Matthieu

Switzerland, France

xtrahardware

Cazenovia, United States

markpearson

Portsmouth, United Kingdom

J

jonastang

Hong Kong, Hong Kong

G

GreenMoney

Lahr, Germany

mole333

Brooklyn, United States

T

thebonseung

Republic of Korea

Z

zvrk2014

Brookline, MA, United States

pvilliger

Zurich, Switzerland

W

wiwillia

Milbrae, United States

KrautFunding

Hamburg, Germany

R

roozbeh

United States

Jonas

Brussels, Belgium

WhyPeace

United States

A

Ansgar

Australia

M

Michi

Switzerland

Pankratio

EastVan, Canada

L

LongXIE

Singapore

Vesa

Helsinki, Finland

Sputnik

Switzerland

J

jdelaporte

United States

Loungin

United States

Mikers

Netherlands

E

enigmatic

United Kingdom

M

MikeOWave

United States

Vitus

Czech Republic

MICROMZ

Matola, Mozambique

P

pdm083

United States

E

Estebanito

United States

H

happyhappy

Switzerland

A

adamdreaming

United States

S

ship_tit

United States

H

hoyeay

Dallas, United States

LouisB

ZIDISHA, Mozambique

Ask Cornelius a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Theophilus Dompreh Blessed    Mar 24, 2021

    I have spoken to him and he said he would make adjustment and make payment if he can't pay all

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  • Justice Akpe    Mar 9, 2021

    Dear lenders, I have spoken with Cornellious and asked him to adjust the instalment payment of he's having difficulty paying the current instalments which he agreed to. So let's hope for the best, Thanks

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  • Cornelius Nartey    Dec 12, 2020

    I will like to reduce the installment amount

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  • Cornelius Nartey    Oct 26, 2020

    hi lenders

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  • Alfred Adjetey    Sep 22, 2020

    Dear lenders,
    I was able to get in touch with the applicant (Cornelius Nartey) and he hanged up on me when I tried to educate him on how Zidisha work's.
    I will continue to do my best to get him have his repayments done.
    Thank you

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  • Cornelius Nartey    Oct 18, 2019

    Hi, been away awhile, I know. But not for good (if u know me well). You know the usual wahala sometimes with businesses... Anyways, Zidisha service has changed so much from what we know back in the days. I have delayed but my penalty is accumulated interest. I accept. But is all this CREDIT RISK FEE about? In my view it will prevent geniune borrowers from requesting loans leaving the service at the mercy of some blah blah blah borrowers

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  • Cornelius Nartey    Dec 5, 2016

    I cannot pay the full installment amount due. I would like to reduce my payment.

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    • Mårten    Jan 22, 2019

      Dear Cornelius,
      what happened? Did you run into trouble with this step in particular, or in general?

      Belated Best Wishes for 2019,
      Mårten

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  • Cornelius Nartey    Sep 19, 2016

    to increase installment amount

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  • Cornelius Nartey    Aug 14, 2016

    I would like to decrease my installment to a more convenient amount. this would help not to miss repayment.

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  • Cornelius Nartey    Apr 25, 2016

    I would like to decrease my installment to a more convenient amount. this would help not to miss repayment.

    Log in to reply • Share
  • Cornelius Nartey    Mar 21, 2016

    Hi,
    I would like to decrease my installment to a more convenient amount. this would help not to miss repayment. Bye

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  • Cornelius Nartey    Dec 29, 2015

    As the New Year approaches us with hopes anew, here is to wishing you and your family a wonderful year ahead. Happy New Year!

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  • Cornelius Nartey    Nov 26, 2015

    Dear Zidisha team and lenders,

    First of all I would like to express my profound appreciation to you for the good work you are doing in supporting entrepreneurs and also for providing a loan to support my building project.

    You would be pleased to know that this building is now providing workspace for my organisation's volunteers, and generating income from renting.

    We would rollout the ICT service with time, as conditions permit.


    As the picture would show this is now a two apartment self-contained house capable of providing much needed service center and workspace for operatives.

    As well, for the interim, I have already given out one part for renting ,in order to raise funds faster to support the repayment of the zidisha loan.

    I expect to generate at least $1000 a year from renting and this can go a long way to help us continue to do good.

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  • Cornelius Nartey    Oct 11, 2015

    Hi lenders,

    apologies for missing my repayments. my project costed far more than anticipated and I had to rope in funds from other sources to complete it. As you know, this is a long term investment with good potential for my organisation and society. I have re-targeted mid-2016 to pay at least half of the remaining loan. Thanks for understanding

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  • KrautFunding    Sep 21, 2015

    Hi Cornelius,

    how are things going? How many entrepreneurs do you support in your center atm? Your still behind the already massively rescheduled plan, so it would be cool if you could give us some information about the reasons, your progress and issues...

    Thx and good luck
    Kraut

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  • boober    Apr 10, 2015

    "Cornelius Nartey Jan 20, 2015
    Hi All,
    I would like to repay half of this loan by the end of February, in keeping with my original schedule "

    Again, nothing, if you want a project to be funded you could at least have the courtesy to update us on the progress, it costs nothing to do that. Frustrating to say the least.

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  • hoyeay    Mar 20, 2015

    Any reports???

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  • Taylor Hanna    Mar 5, 2015

    Dear Lenders,

    It was an honor to get to meet Cornelius last week in Prampram, a quiet coastal town two hours from Accra. Cornelius has been with Zidisha since the program’s inception in Ghana, going door to door with our expansion coordinator Roberta to talk to potential borrowers, and still is called for advice regularly by borrowers and VMs.

    Originally a business consultant, Cornelius wanted to find a way to use his skills to and expertise to really serve the communities he grew up in: small-scale entrepreneurs in the informal sector. When I asked him what drove him to quit private consulting, he answered, “If you see a need and feel it has affected you, why not try to solve it?” And so the African Association of Entrepreneurs was founded. AAE has a microfinance project, has produced an impressive library of reports and country analyses, won two UN Volunteering awards in 2012 and 2013, and offers online coaching to young entrepreneurs.

    I met Cornelius where he is building a physical resource center for AAE. The center will serve as an office and offer books, computer and internet access, and support to entrepreneurs in the program. He says moving from Accra both saves on rent and property costs, allowing more resources to go to the project, and expands access to rural individuals. The project has been underway for two years and Zidisha loans have been a big part of helping him get off the ground.

    In fact, in addition to using them himself, Cornelius recommends Zidisha loans to many of his students. Many entrepreneurs don’t have extensive post-graduate education and so much of the economy takes place in the informal sector underserved by traditional banking. He is enthusiastic about Zidisha’s capacity to help individuals grow their small businesses and wants to see the program remain strong.

    Cornelius – I can’t thank you enough for taking the time to sit down with me and introduce me to some other borrowers in Prampram. I’ll be back soon!

    Thank you,

    Taylor
    Ghana Country Ambassador
    Zidisha

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  • Cornelius Nartey    Feb 28, 2015

    Last year, I asked your help to complete setting up a facility for young entrepreneurs and the zidisha lending you gave me now represents 20 percent of the total cost with the remaining funds coming from donors.

    So thankfully, the opening of the center is planned in May. It is estimated that the facility would help connect 200 young entrepreneurs to experienced mentors annually.

    Log in to reply • Share
  • Cornelius Nartey    Feb 28, 2015

    Last year, I asked your help to complete setting up a facility for young entrepreneurs and the zidisha lending you gave me now represents 20 percent of the total cost with the remaining funds coming from donors.

    So thankfully, the opening of the center is planned in May. It is estimated that the facility would help connect 200 young entrepreneurs to experienced mentors annually.

    Log in to reply • Share


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