Increase my mobile money transfer 'float'
Anthony
Mtwapa, Kenya
17% repaid
Entrepreneur
Name
Anthony
Member since
December 2014
On-time repayments
166 installments • 28%
About Me
My name is Anthony Wanyoike. Anthony was born in Limuru near Nairobi city which is the capital of Kenya. Limuru is a very cold place (by our standards!) and it is famed for quality tea production. I was born in a family of 6 and I am the first born. My 3 siblings are still in school while the other ones are working.
I went to school, both primary and secondary and later enrolled for a shipping course.
Limuru like other areas of Central Kenya is densely populated and my parents advised me to move to Mombasa to look for greener pastures while creating room for others at home. I came to Mombasa with hope of getting a shipping job but I did not succeed. However, I was lucky enough to secure a job at a mobile phone shop where I started earning a salary. I then started my own business where I sell mobile phone accessories.
I am still single but hoping to settle with a wife soon.
My Business
I was employed at a mobile shop for two years where I was earning a small salary and working for long hours. While working there, I gained crucial knowledge which would later help me in running my own business.
I started by opening a stall near a busy market and a small stock of phone accessories. With support from the client base that I had build in my previous job, I was able to rise fast and I now sell a wide variety of accessories such as batteries, covers, memory cards etc.
In spite of my success, challenges still abound, key among them lack of capital to keep up with the demands of my customers. The field of mobile phones changes rapidly and needs a good source for funds to cope with the change. This is the reason I have joined Zidisha with the hope of getting quick and reliable credit.
Loan Proposal
My business also deals with money transfer business called M-pesa. This is a very popular money transfer service and almost everybody in Kenya uses it for all kind of money transactions. I am an agent where I serve people from my small outlet here in town. The agents are required to deposit some money with the service provider (float) and customers can withdraw this money from the agent. Once the amount is depleted, the agent needs to deposit more money to continue with the business.
From the above arrangement, the more deposit you have the more clients you can serve. I am anticipating a rise in money transfer as we head to the end of the year and getting this money at this time will be timely.
Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$359.00
Date disbursed
Nov 18, 2015
Repayment status
Late
Projected term
29 months
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United States
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