Mobile money agent centre - airtel, mtn & zanaco xpress

Entrepreneur

About Me

Andrew Chinambu is a youth development expert and a serial young social entrepreneur with business interests in mobile money payment solutions, and a co-founder of a social enterprise called Campus Community Foundation (CCF), that seeks to promote and champion youth development, entrepreneurship and leadership to university and college students in Zambia. Andrew is also an Award winning entrepreneur of the 2012-13 series INDIAFRICA Essay writing competition, 2014 INDIAFRICA Young Visionaries Fellowship Programme and attented an entrepreneurs Bootcamp in New Delhi, India and was a Winner and Finalist of the INDIAFRICA Business Venture Competition 2014 in Accra, Ghana. Andrew currently holds a Bachelors degree in Mass Communication from the University of Zambia.

My Business

I am currently running a profit making venture with the core business in mobile money solutions. This venture has been in existence for over three years and now I wish to seek for financial support and try to grow with the service and product offerings. I now wish to expand my agency business under the Zambia National Commercial Bank (ZANACO) Xpress Agent and help ease the challenge of deposits and withdraws from the limited number of ATMs around my community. I basically want to increase the services and product offerings so that customers can easily receive and send money via the Airtel and MTN money platforms. I wish to include Zanaco as it is Zambia's biggest commercial bank with the widest footprint across the country. With increased services and products, I can therefore anticipate an increase in my profit (commissions) margins I receive.
It's against this background that my application for this loan is to basically help me secure funds that will make it possible for my services and products to be increased thereby positioning my shop relevant to the everyday needs of the customers out there. The loan will enable me order more stock in terms of float on all the three networks.
The profits that will be generated off this venture will assist me in repaying my Zidisha loan as well as help me in my daily operational costs for running my mobile money payment solution and my daily livelihood.

Loan Proposal

Dear Zidisha Lenders,

I write to request for a loan amounting to $1,400 so that I can expand my mobile money centre business. I intend to expand my offering my by being an official agent for Zambia National Commercial Bank (Zanaco) so that I can serve my clients at my mobile money agent centre. I wish to use $ 1,000 in acquiring float for Zanaco Point of Sale (POS) machine and the remaining USD 400 will be used as cash at hand to payout to customers who withdraw funds using the Zanaco POS machine. Once this is implemented, I expect to make a monthly commission of between $250 to $300 off the Zanaco POS machine.

I am inspired to do this business because the Zambian Government has prioritized the use of digital finance and mobile payment solutions to assist the traditional way of transacting. The other factor is that Zanaco, Zambia's biggest commercial bank usually fails to service all their clients from the ATMs, and branches dotted around the country. The inclusion of Zanaco to my mobile money kiosk will help ease this problem as well as increase my offering to my clientele.

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Loan Info