12 installments • 83%
My name is Oscar and I was born on 15th April, 1968 in Livingstone which is in the Southern Province of Zambia. I am born in a family of seven. I started my Grade one primary school education in January, 1974 at Nasanzu primary school and went upto grade three when I got transfered to Lilayi Primary School in Lusaka and started staying with my elder brother. In 1981 I qualified to my Form 1 then at Matero Boys Secondary School until I wrote my form three exams, I wrote my form three exams and I did not qualify to Form four therefore I had to stay at home for whole of 1984 and at times would engage myself doing piece works, not until a friend of mine encouraged me to go back to school of which I did in 1985. The same year I wrote my Grade nine exams of which I passed and proceeded to Grade 10 in 1986. In 1988 I completed my grade 12. There after I started working for Swarp Spinning Mills in Ndola to raise money for the college. This I didnt Manage until I Zambia Postal Services Corporation in 1996 and immediately I even started my computer studies. todate Im still working for Zambia Postal Services Corporation and I have risen through ranks in the same department.
My main source of income is from my employers who are Zambia Postal Services Corporation apart from that Im involved in bussiness of selling Herbal medicines. This gives me an extra income though we are doing this with some friends and my wife as a major share holder. We order our Herbal Medicines from India which has become very popular in Zambia. Our customers are spread all over Zambia. The major threat we have is the weakening of the Kwacha to major currencies, this has really affected our capital base. I can proudly say this is good business which has seen several lives being saved. Apart from the sales of herbal medicines we do repairs and sale of office equipment. We started with $700 and the exchange rate was K6.42 and we bought 20 bottles of herbal medicine and the selling price is $60 which translated to K450 per bottle. The next cognsigment was bought at the rate of K7.12 and was selling for K450 per bottle and the same number of bottles (20) was bought the third consigment was bought at the rate of K7.93 which is in stock now and is being sold at K480 and 35 bottles were bought. We are expecting the next order to be 55 especially if our Loan is approved. This increase is againn due to the number of people who have liked the herbal medicines. The Medicines are for Imune booster, Diabettes, Fibroids etc. The customers who have used the medicines are the ones advertising for us to their friends and families and thus the number of customers keeps on rising.
When the loan is gotten this will assist to boost the capital base and thus we will be able to buy more quantities of the Medicines. This will also assist us buy more tools which will be used for the repairs of office equipment. The major percentage of the loan will be on the acquisition of the herbal medicine from india. We are currently the sole agent of Biotech of India here in Zambia
Sep 3, 2015
Cost to entrepreneur
Service fee: $3.31
Oscar opted to pay $0.30 into the Zidisha Members Loan Fund in return for a higher starting credit limit.