M-Pesa mobile-money business

Mathew Kamau

Utawala-githunguri, Kenya

100% repaid

Entrepreneur

Name

Mathew Kamau

Member since

March 2015

On-time repayments

203 installments  •  92%

About Me

I am aged 36 years old married to Judy Waruguru and a father of two boys called Ian Kamau and Melvin Irungu. I am second born in my family of four siblings. I lost my father in the year 2009 after being attacked by thugs and thus we were left with our mother to take care. I finished my O-level in the year 1996 and passed with a B minus grade. I expected to get and admission at a public university but unfortunately I didn’t manage. After two years at home, my parents struggled and enrolled me into a technical college to pursue a diploma in analytical chemistry. After graduating in the year 2001 I moved to Sinai slums in Nairobi which borders industrial area to start looking for jobs. I searched job for 2 years but in vain. I therefore decided to go back to the village to start all over again there. My mother borrowed for me KSh 50,000.00 from women groups so that I can start a small business. I returned to Nairobi now being focused to start a small business. In 2004 I started an M-pesa business within Utawala area and since then it had been supporting me well. Later last year I also started and equity agency to diversify and expand my business.

My Business

I operate a money banking services business notably Mpesa and Equity agency business. Mpesa business is run by the leading mobile subscriber in the county Safaricom whereby customers deposits and withdraws money and in returns your earn a commission at the end of the year. Your commission depends on the number of customers you have served and also the amount of money they have deposited or withdrawn. Other services I do is sim replacement to the customers who might have lost their sim. I also sell new Safaricom lines to new customer and also selling air time to customer. To maximize my profit, I lately I introduced and equity bank agency which operate more or less like Mpesa whereby you earn commission depending on the number of transactions you carry per month. In Equity agency, you also assist in account opening, paying bills and other banking services. In future if I get more funds, am intending to increase the number of banking service like KCB mtaani , Co-operative kwa Jirani agent and Family bank agency.

Loan Proposal

This loan will be used to add into operating float of the business. For you to operate optimally, one need to have a lot of cash and float so that when a customer come to deposit or withdraw, you are not going to tell him/her that you don't have money. That way they build trust in your business. Therefore, for now , my goal is to maintain and attract more customer by having good float.

Feedback

3

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Loan Info

Project Type

Classic Loan

Disbursed amount

$647.18

Date disbursed

Aug 29, 2018

Repayment status

On Time

Projected term

6 months

Cost to entrepreneur

Service fee: $27.26

Credit risk payment: $136.34

Lenders

J

johan

Oslo, Norway

A

anonymus

Moon, United States

R

Roman

Barcelona, Spain

M

mogensh

København V, Denmark

J

JakeA

Wellington, New Zealand

Namaste250

Pittsford, United States

R

Rking

Eugene, United States

hugomesser

Blokker, Netherlands

RckyMntFamily

Colorado, United States

JTShorty

Gorham, Maine, United States

S

smetis

Kananaskis, Canada

D

doublehelix

Philadelphia, United States

Evan Lamos

Brussels, Belgium

sderickson

Berkeley, CA, United States

D

drorm

United States

M

Mullagh

United Kingdom

K

Kber9156

North Parramatta, Australia

B

bscent

Hong Kong

T

Tim47

United States

M

me.iulian

Iasi, Romania

Voscke

Utrecht, Netherlands

KM

KHS Microfinance

Tampa, United States

Jonas

Switzerland

JC

JD Conley

United States

C

cota

United States

CNV

United States

MR

Michiel Rauws

San Francisco, Netherlands

F

Frits

Rotterdam, Netherlands

AK

Anita K

Maryland, United States

P

patricio

Yorba Linda, Ca, United States

J

Jason

United States

N

Nino

Switzerland

Arnaud M

Sydney, Australia

Thomas

Sweden, Sweden

Mr Chris Turner

Cambridge forever England, United Kingdom

R

Rolands

Taichung, Taiwan

B

Boris

Bern, Switzerland

SA

Steve A

Newbury, United Kingdom

Jes-c

United States

johannes

Taipei, Taiwan

MO

Mark Owens

United States

hervey liu

United States

Dean Suminski

Portland, Oregon, United States

E

ericb321

Republic of Korea

ED

Eunan Doherty

donegal ireland, Ireland

S

seahillpark

United States

KK

Kurt Kellner

United States

Salvatore Martello

New York, New York, United States

David Nash

Sydney, Australia, Australia

L

Liam

New Zealand

AH

Antioch House Church

Kansas City, Kansas, United States

Ronald Chua

Kuala Lumpur, Malaysia

petter

Finland

EL

edna l rauch

United States

SC

Samuel Clemente

Brooklyn, United States

Joshi

United States

MM

Mbali Mamba

United Kingdom

LL

Laura Loos

Netherlands

John Doe

United States

Cambium Foundation

Kirkland, United States

Ask Mathew 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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