Inventory of flour/ingredients for bakery

Theodore Acquah

Obuasi, Ghana

16% repaid

Entrepreneur

Name

Theodore Acquah

Member since

February 2014

On-time repayments

186 installments  •  15%

About Me

My name is called Theodore Acquah but populary called Teddy the short name of Theodore, married with five children and my wife's name is Grace Acquah. I completed Obuasi Secondary Technical School and took professional course like CIPS UK. I am a purchasing officer and left with one paper to charter the Chartered Institue of Purchasing and Supply. I worked with the then Ashanti Goldfields Company as a senior buy from 1990 to 2006 where I was responsible for the procurement of mining equipment across the globe,when I was laid redundant and had not been successfull seeking a new job. I believe that if one wants to be successfull in life then one have to be honest, very respectfull, have Sense of Humor, very determine, optimistic and have the will to succed, I decided to go into bakery since my wife and myself had talent in bakery.

My Business

I

On the bakery, we were using just one gas oven whilst we had three because our customer base was not quite good so we were only baking two bags of flour in a day,that is 60kg. We are now using the three gas ovens and we are now producing 6 bags of flour a day and expecting to reach 10 pretty soon. Plans are underway to buy extra bakery equipment that we are lacking. We have enlarged our products site to accommodate for additional flour (bread) we are now baking.
The improvement of our business and our lives in general were possible because of you. I am soooo much grateful. I am praying that Zidisha and our lenders or investors continue to assist me, because I have plans to purchase a small scale flour mill in future to produce our own flour. And the benefits for owning our small scale milling flour is that, in Ghana bread had lost its delicacy due to the high price of the ingredients especially flour and the price of flour keeps going up by the day, and for that matter the weight of the bread is nothing to write home about and not really delicious. We will improve our products by increasing the weight, and offer our products at a competitive price to meet the demand of our costumers. We will also explore the possibility of making takeout sandwiches and pizzas to increase revenues. Delivering wholesale bread and baked goods to shopping malls and hotels in and around town will also be considered.
And concerning the small scale milling flour for the near future, this small scale flour mill produces more flour, like 500kg/h which means we will also sell flour to the public to increase revenue. Burkina Faso has no port or harbour so they use Ghana when importing their goods and they also take advantage to shop in Ghana. Flour is one of the items people from Burkina Faso buy a lot from Ghana, and they mostly buy it from Takoradi flour mills which is about 400 kilometers south of Ghana and we are located close to Kumasi which is in the middle of Ghana and Kumasi is more closer to the Burkinabe than in Takoradi and Kumasi is the second city in Ghana and is notable for trading so the Burkinabes use Kumasi as their first stop to shop. We will establish a large costumer base and will therefore use my little marketing strategies to capture the Burkinabe to buy the flour from us than travelling down to Takoradi to buy. People from all walks of life always use Kumasi as their trading centers and for that matter Kumasi have the big market and we are lucky to be close to Kumasi. If my dreams of owing the small scale flour mill becomes a reality, I will be the fisrt bakery in Ghana to produce its own flour.
Attached is the quotation of the small scale flour milling machine which I have plans to purchase in the near future with the assistance of the Zidisha lenders or investors.

Loan Proposal

On the bakery, we were using just one gas oven whilst we had three because our customer base was not quite good so we were only baking two bags of flour in a day,that is 60kg. We are now using the three gas ovens and we are now producing 6 bags of flour a day and expecting to reach 10 pretty soon. Plans are underway to buy extra bakery equipment that we are lacking. We have enlarged our products site to accommodate for additional flour (bread) we are now baking.
The improvement of our business and our lives in general were possible because of you. I am soooo much grateful. I am praying that Zidisha and our lenders or investors continue to assist me, because I have plans to purchase a small scale flour mill in future to produce our own flour. And the benefits for owning our small scale milling flour is that, in Ghana bread had lost its delicacy due to the high price of the ingredients especially flour and the price of flour keeps going up by the day, and for that matter the weight of the bread is nothing to write home about and not really delicious. We will improve our products by increasing the weight, and offer our products at a competitive price to meet the demand of our costumers. We will also explore the possibility of making takeout sandwiches and pizzas to increase revenues. Delivering wholesale bread and baked goods to shopping malls and hotels in and around town will also be considered.
And concerning the small scale milling flour for the near future, this small scale flour mill produces more flour, like 500kg/h which means we will also sell flour to the public to increase revenue. Burkina Faso has no port or harbour so they use Ghana when importing their goods and they also take advantage to shop in Ghana. Flour is one of the items people from Burkina Faso buy a lot from Ghana, and they mostly buy it from Takoradi flour mills which is about 400 kilometers south of Ghana and we are located close to Kumasi which is in the middle of Ghana and Kumasi is more closer to the Burkinabe than in Takoradi and Kumasi is the second city in Ghana and is notable for trading so the Burkinabes use Kumasi as their first stop to shop. We will establish a large costumer base and will therefore use my little marketing strategies to capture the Burkinabe to buy the flour from us than travelling down to Takoradi to buy. People from all walks of life always use Kumasi as their trading centers and for that matter Kumasi have the big market and we are lucky to be close to Kumasi. If my dreams of owing the small scale flour mill becomes a reality, I will be the fisrt bakery in Ghana to produce its own flour.
Attached is the quotation of the small scale flour milling machine which I have plans to purchase in the near future with the assistance of the Zidisha lenders or investors.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$822.33

Date disbursed

Jul 17, 2014

Repayment status

Late

Projected term

39 months

Cost to entrepreneur

Lender interest: $822.33 at 6.18% annual rate over 39 months = $164.19

Service fee: $50.52

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Ask Theodore 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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  • Jamal Hamou    Mar 8, 2018

    Hello Theodore,

    Do you plan on repaying this loan? Repayments help the community continue to offer loans to others. We depend on repayments to keep the cycle going. This is how we can all avoid the large interest charged by banks.

    Let us know how you are doing.

    Blessings,
    Jamal

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  • KM    Jan 1, 2016

    Happy new year!
    I hope that you were able to start production for Christmas as planned!

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  • Theodore Acquah    Dec 1, 2015

    Hi Kweeks. We are determine to start production before christmas. You will surely hear some good ilmeny, many thanks for yourconcern. Sending our business to a different location had cost me so much and many inconvenient hence the problem we are facing. But I can assure you, we will be back in the next two news from us.Thank you again and again

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  • Theodore Acquah    Dec 1, 2015

    Hi Kilmeny, many thanks for yourconcern. Sending our business to a different location had cost me so much and many inconvenient hence the problem we are facing. But I can assure you, we will be back in the next two weeks. We are determine to start production before christmas. You will surely hear some good news from us.Thank you again and again

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  • Theodore Acquah    Dec 1, 2015

    Hi Kilmeny, many thanks for yourconcern. Sending our business to a different location had cost me so much and many inconvenient hence the problem we are facing. But I can assure you, we will be back in the next two weeks. We are determine to start production before christmas. You will surely hear some good news from us.Thank you again and again

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  • KM    Nov 30, 2015

    How are things at your new location? Have you been able to reestablish your business?

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  • KM    Sep 14, 2015

    Hi - I'm sorry that you had to relocate, I hope that the trip to your new business location is not too long from your home.
    Thank-you for making a large repayment on Aug. 22nd. Could you reschedule your repayment schedule to make it easier to catch up?

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  • Theodore Acquah    Jun 23, 2015

    I am very sorry for the delay and enability to make my repayment. I was baking at my home premises and the neighbours thought it was causing enviromental nuisances so they reported to the Enviromental Protection Agency. I was asked to relocate to a place termed as Obuasi Industrial Area. The relocation really cost me. I am putting things together to start again and to start my repayment. My appologies. Thank you

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  • George Bonsu    Apr 9, 2015

    i called him the other time and he told me that he want to meet Taylor personally so i think Taylor can help me if both of them were able to meet and what is the outcome

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  • KM    Apr 6, 2015

    Hello - I hope that everything is okay - have you been able to get the mill you wanted?

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  • George Bonsu    Jan 29, 2015

    i called Theodorah Acquah today and trying to see if I and Taylor can meet him in Obuasi. but unfortunately he is doing some small work in Accra so he is not at Obuasi now but he is in the position to meet Taylor in some weeks at Accra so i hope Taylor will give u more updates when she meet him. thank you

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  • granite    Jan 11, 2015

    Hello Theodore,

    Your friend Obed Boahen has missed three payments - is he OK?

    Best regards,

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  • KM    Nov 8, 2014

    Hello - how are you? I know you had some trouble earlier with your employees. How is the bakery going now?

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    • Theodore Acquah    Nov 9, 2014

      Kilmeny im glad you care. I am picking up the pieces. We used to knead the flour at a mill and I am trying to get my own mill so I can do everything at home to save cost of transport. In fact I will be posting every development on my wall for my donors to see the progress, Kilmeny could it be possible to get my donors email so I can show my appreciation? Thank you

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      • KM    Nov 18, 2014

        I look forward to further news.
        I think it would be up to each individual lender to decide if they want to share their email - the problem is that it would have to be posted publicly, and there is trouble with controlling who sees the address this way.

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  • Sputnik    Oct 6, 2014

    Hi Theodore. Could you please check on Samuel Adjei? He has missed several payments and does not respond. Thank you.

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    • Theodore Acquah    Nov 9, 2014

      Sputnik, sorry for taking that long to reply. I paid a visit to Samuel and realised he has a problem and he promised to clear every outstanding he has last week friday but did not heard anything so I had decided to be there this wednesday

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  • John Kwesi Dei    Sep 7, 2014

    call me some time lets meet my brother from zidisha 0208115388

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  • John Kwesi Dei    Sep 7, 2014

    Good work bro zidisha is the Dad we all never had. God Bless all the lenders for this fantastic initiative

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  • Theodore Acquah    Jul 31, 2014

    I would wish to reschedule my loan repayment due to my workers dishonesty acts they had shown lately. Two of my workers are stealing from the returns from our daily sales and for that matter I have terminated their contract and I am looking for honest people to fill their place. Because of this we had reduced the number of flour bags we were doing for a day from six bags to three bags and this will affect my repayment of the loan. I promise to bounce back immediately we increase the number of flour bags.

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    • KM    Sep 3, 2014

      Hello - I'm sorry to learn that you had workers stealing from you. I hope that by now you have found honest people to take their place. Thank-you for letting us know what the problem was, and for continuing with repayments despite the loss.

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      • Theodore Acquah    Sep 4, 2014

        Glad to hear from you and thank you for your comment.I am working things out and you will hear from soon

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  • Theodore Acquah    Jul 29, 2014

    Hello, I will be posting comments pretty soon to let you know any developments. Thank you

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  • KM    Jul 17, 2014

    I'm glad that I was able to help out a little bit. It's really exciting to be involved in this flour mill and bakery project.

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    • Theodore Acquah    Jul 29, 2014

      Howdy Kilmeny, I am so much grateful to all, and could you please gimme your email add. Thanks

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  • Theodore Acquah    Jul 12, 2014

    I could not upload the picture of the small scale flour mill but this is the information on the invoice:
    M6FX-50:
    PRICE: USD3800 FOB Qingdao port
    CAPACITY: 500KG/H
    POWER: 11/15+2.2KW(380v,50hz)
    ROLLER DIA:220MM
    WEIGHT:1200KG
    OUTSIDE DIMENSION:2010MM*2200MM*2200MM

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