20 installments • 10%
My name is Thuo, a businessman and a father of 1. I was born near the capital city of Kenya - Nairobi and later relocated to Mombasa for work. The area where I was born has a rural set-up but with traces of urban life due to close proximity to Nairobi.
My parents were small scale farmers and they grew food crops as well as coffee which would be sold and get much needed cash to support the family financially.
I used to help them with their daily chores when not in school. I went up to secondary school and after that, decided to move to Mombasa where there were better job opportunities than home. I got a job as an attendant at an electrical shop where I worked for two years and then decided to start my own shop, and this is what I am still doing.
I run a store where I sell mobile phone accessories. This is a business I started a few years ago after realizing that there was a growing demand for phone items due to rapid acceptance of mobile phone technology across the region. Almost every adult in Kenya own a mobile phone and this provides a huge market for accessories such as batteries, covers, earphones etc.
I normally get my supplies from big store and buy at wholesale price and then retail the items from my shop. I have witnessed growth of my shop over the years and I am glad that the future looks bright. However, the growth is stifled by lack of credit which would help in boosting my inventory.
The loan will give me a much needed boost in my endeavor to grow my business. If I get this money, I will spend it to buy the following items
- An assortment of phone batteries at a cost of USD 40
- An assortment of ear phones at a total cost of USD 20
- An assortment of chargers and connector cables at a total cost of USD 25.
This will be a shot in the arm for my business and it will definitely improve my sales volumes and hence accelerate the growth of my fledgling business.
Jun 17, 2015
Cost to entrepreneur
Service fee: $3.95
Francis opted to pay $24.91 into the Zidisha Members Loan Fund in return for a higher starting credit limit.