Loan to produce and sell teaching aids

Gideon Amefu

New Weija, Ghana

100% repaid

Entrepreneur

Name

Gideon Amefu

Member since

August 2014

On-time repayments

299 installments  •  78%

About Me

My name is Gideon John Amefu. I come from a family of six, my parents inclusive. I live at New Weija a suburb of the Accra Metropolis. I am a student and I am currently at the Kwame Nkrumah University of Science and Technology pursuing a degree course in Civil Engineering.

I started a marketing business in order to lift some burden off my parents. I market products such as popcorn machines,hand-made crafted bead bags and purses, wooden bags and more via internet. The money I gain from the sale of these items are used to pay my school fees and my feeding. I also sometimes re-invest the money into other lucrative businesses to get my returns. As a young gentleman, I want to come out of the University prepared to affect my generation positively. I want to do this by training my fellow young ones the skills and appropriate way to marketing especially in Ghana and Africa- this will mean I should have a hands-on training in that regard. With the help of Zidisha and lenders I will promote my marketing plans.

I love to play table tennis, video games as well as football. At my free time I love to read my bible, search for more website where I can post my adverts and market more items online.

My Business

The business I do is online marketing of products. I mostly market products such as teaching aids to people online, door-to-door, through posters and advertisement. My Dad is a handicraft producer who mainly produces teaching aids in both wooden and digital forms. These teachings aids are a supplement to help teachers guide children in their formative stages. The teaching aids would help build their fundamental study of pronouncing words and how to communicate. There is a demand for these goods and services because there are a lot of schools encompassing my neighbourhood and these different schools need these teaching aids to help boost their level of communication to children. My business is much preferred because the teaching aids are sharp,real,easy to read and understand,quality,durable and very attractive and most of all very reasonable(in terms of cost). The business is profitable because there isn't much of a competiton and therefore we are able to supply to a large number of schools in the neighbourhood and make our profits. The main risks my business faces is that, should there be an error in the wording(digital form of teaching aids), it could be rejected and the cost of production is lost. However, this risk isn't so much of a problem because we have alternatives to remedy the situation whenever it occurs. I mostly make approximately 95usd every month. I believe through advertisement I can take over a greater number of schools in my country.

Loan Proposal

My name is Gideon John Amefu, a first year student in the Kwame Nkrumah University Of Science and Technology(KNUST-GHANA). When I am given a loan amount of USD 331, I would invest the money into the production and marketing of teaching aids. These teaching aids take two forms,that is, digital and wooden.

Currently, with USD 20 I am able to produce and sell a box containing 26 items of teaching aids. In my current capacity I am able to produce and supply 5 boxes to only 5 schools. With the help of lenders with USD 154, I aim at producing and selling 7 to 8 boxes. These teaching aids are high in demand in the education sector we have in Ghana; and it really support business and bring much profit.

The reasons why I would want to go into this is because there are a variety of schools encompassing my neighbourhood and these schools get interested in any material that is linked up with their vision, that is, educating children. The digital teaching aids simply consists of words ranging from A-Z buttressed with pictures on an art material known as flexy. So for instance, you have a word say, 'apple' and it is tagged with the picture of an apple. The wooden teaching aids simply consists of crafted alphabets ranging from A-Z attached to a plywood surface. It also consists of three and four letter words attached to a plywood surface. The teaching aids is meant to help children who are in their formative years i.e nursery and kindergarten to build up their ability to speak and communicate. The teaching aids are sharp,real,easy to read and understand,quality,durable and very attractive. Any prospective lender who helps me establish this goal is also helping a child in his or her formative stages to unearth his or her potential.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$110.33

Date disbursed

Oct 28, 2014

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $110.33 at 2.15% annual rate over 1 month = $0.31

Service fee: $0.38

Lenders

Michel Bavin

Antwerp Area, Belgium

T

TZ

Singapore, Singapore

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