3 weekly installments • 100%
Renox Masulani are my full names. I am the first born of three children and I am currently based in monze, the southern province of zambia.
My family has humble background but on a sad note, I lost my mother when I was 15 years of age. My father was once part of the Zambia railways company but he's contract ended and could not be renewed because of the new management. Luckily, he had bought a car which we now use as a source of income at home through transportation (taxi). Life has been challenging ever since hes contract ended. Dad does all he can in he's capabilities to make ends meet and on the other hand, I am the one managing the car rather transportation business as a taxi driver.
As I have already stated in the introduction, I am a taxi driver using my father's car for transportation of clients.
On average, the taxi business has not really been the same as before the pandemic spread. Monze is quite a small town and so not many people own vehicles and that's what gives my family the advantage to make money off the transportation business.
Every Friday, I cash up my father an agreed amount of K2500 and when the week has not been so fruitful my cashing is 2000 and not anything less.
When the loan is fully funded and dusturbed to my account, I will firstly take the motor vehicle I am using for service so that a the few faults it has been having can be rectified. Lately the vehicle has been making some funny noises while it is on the move and is making my passengers a little uncomfortable, so I wish to have it serviced.
In the past few weeks I have been working with some choppies employees, we have signed a contract for the next two weeks. In the contract, the agreement is that I take them to and from work em from Monday to Friday for the next two weeks. And they have already paid me the first installment which is a K1000 and the other half will be completed on Friday next week. The total amount agreed upon is a K2000.
Feb 24, 2021
Cost of loan
Service fee: 5% of $15.85 = $0.75
Credit risk payment: $2.03