217 installments • 94%
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.
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.
I intend to purchase more invetory for my shop so as to increase the product range of the available stock in my shop. I want to buy more phone accessories for smartphones, that will include (Phone charges, headphones, phone covers and pouches, batteries and smart watches). The approximate cost to acquire the above listed mobile phone accessories will be in the range of $460.00 to $500.00. Once these products are made available to my shop they will help me incraese my profit margins (in the range of $100 to $200) and on the other hand, will empower customers with the ease of a one stop shop where they will find all original and affordable phone accessories. In other words, the loan from the Zidisha community will assist me to restock my shop with the needed stock levels that will keep my shop afloat and have the much needed mobile phone accessories.
Jul 20, 2016