214 installments • 77%
My name is David Musee, born and bred in Machakos County near Nairobi. I was a born in a family of seven and I am the first born. Machakos is a semi arid area and the main activity there is cattle rearing. Due to the harsh climatic conditions the pastrolists keep poor quality indigenous breed and they don’t make much from this activity.
I spent my childhood looking after by father’s cattle as was the norm them. I also attended school for my primary and secondary school before moving to Mombasa in an effort to break the yoke of poverty back home.
I came to Mombasa about 25 years ago and I was lucky enough to get a job in a food processing factory. I worked there for 11 years while making savings and learning skills that would come in handy when I started a similar business of my own later.
I am happily married with three children all who are in school.
My business deals with selling of food spices, food colors and flavours. I have been running this business for a long time and I do it with help of my brother, my wife and some casuals. I buy spices like cumin, cloves, pepper etc from farmers then dry and later ground them to fine form for sale to wholesalers and retail outlets.
There is always a ready market in Mombasa due to its large population of locals who like to put strong spices in their delicacies. There is also a huge market in the neighboring countries but I am yet to venture there due to financial constraints which have limited me to just serving the local market. I hope to create confidence with Zidisha lenders and with time get a good enough credit to enable me expand my business territory.
I make a net profit of $400 per month but this can easily go up if I am given a financial credit backing which I have lacked for a long time.
I will spend my money to buy 2 sacks of red pepper @ 65. This is a major component of almost all the products that I make. The loan will be a big relief to me because it will free some money that I intend to use for educating my children.
The increased revenue which will be generated from this stock also means a better life for my family.
I am optimistic that this loan means a beginning of realizing my life-long dream of expanding my business horizons.
Dec 16, 2014
Cost to entrepreneur
Lender interest: $100.18 at 4.52% annual rate over 2 months = $0.93
Service fee: $0.76