Kenya

Cables for installing electricity in homes

Entrepreneur
Alex Masumbuko
Mombasa, Kenya
Invited By: Kenneth Ndungu
Invited Members: 2   View

Volunteer Mentor: Irene Njambi

This Loan
23% Repaid


Disbursed Amount: $2,128.89
Date Disbursed: Apr 3, 2017
Repayment Status: On Time
Repayment Frequency: Weekly Projected Term: 11 months
Cost of Loan: $105.82
Show Cost Details

Cost of this loan

Service Fee: 5% of $2,128.89 = $105.82


Story
About Me

My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.

I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.

I made savings which enabled me to open a small electrical shop which I am running to date.

I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.

My Business

My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.

I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This is the main reason why I started this business since I wanted to get a market share of the boom.

I make a profit of about $380 which I use to support my family and also for business expansion.

Loan Proposal

My country - Kenya - is going through a transformation. The government of Kenya is undertaking an ambitious project which intends to connect the entire population to electricity from the current 30%. This has seen massive connectivity across the country.

This has led to high demand for installation cables and other related accessories. I want to cash in on this opportunity by stocking a wide variety of cables that are needed to make this project a success.

I will use 80% of this money to buy the cables and the remaining balance to buy other electrical items such as wall sockets and switches. I am optimistic that I will make good sales and repay the loan very fast.

Thank you.



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About Me

My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.

I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.

I made savings which enabled me to open a small electrical shop which I am running to date.

I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.

My Business

My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.

I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This it the main reason why I started this business since I wanted to get a market share of the boom.

I make a profit of about $380 which I use to support my family and also for business expansion.

Loan Proposal

My country - Kenya is going through a transformation. The government of Kenya is undertaking an ambitious project which intends to connect the entire population to electricity from the current 30%. This has seen massive connectivity across the country.

This has led to high demand for installation cables and other related accessories. I want to cash in on this opportunity by stocking a wide variety of cables that are needed to make this project a success.

I will use 80% of this money to buy the cables and the remaining balance to buy other electrical items such as wall sockets and switches. I am optimistic that I will make good sales and repay the loan very fast.

Thank you.


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Cables for installing electricity in homes

Alex Masumbuko
Mombasa, Kenya

23% Repaid