M-Pesa float topup for mobile money transfer business

Entrepreneur

About Me

My name is Paul Muhami and am a born again christian. I am 44 years old while my wife is 39 years, and we have been blessed with two lovely children, aged 11 years and 6 years.
I started my M-pesa business in March 2008, after Safaricom launched the service and was seeking agents to increase geographical footprint in Kenya. I had been employed as a sales manager in Kenya so I have business management skill to ensure growth and sustainability.
Through the grace of God, we have overcome startup and many other challenges along the way, and we are now venturing into agency banking to increase our revenue and tap into new opportunities.
Over the years, I have been able to open more shops and educate my children. I have even managed to go back to school to hone my business skills.

My Business

It is a cash intensive business requiring adequate e-float at any one given time. Commission depends on size and number of transactions per month, hence availability of float is critical.
In brief, we enable customers load into and withdraw cash from their phones, enabling person-to-person and person-to-business commerce to take place.
Our commissions are aggregated monthly by Safaricom and paid directly into our e-float account so that we can pay salaries and other running expenses, leaving a handsome margin as profit. A statement is available on demand from the Safaricom portal, www.safaricom.co.ke.
We have now opened several new branches to increase our revenue, and would really appreciate a reliable funding partner like Zidisha. We promise to pay all our commitments on time and in full, in addition to promoting Zidisha to other needy and reliable entrepreneurs within our network, hence our application to be appointed volunteer mentors as well.
May God bless you all.

Loan Proposal

Having been in mobile money business for over five years, we have established a pattern of business cycles and therefore, we plan to top up the e-float in our M-Pesa agency shops so as to meet the likely high demand from the 15th of each month.
Over time, as we expand and diversify, we plan to take higher loan amounts to boost our commissions and ensure that in future, we are adequately capitalized, and even give back to society by becoming lenders ourselves, of course on the Zidisha platform now that am also a volunteer mentor!
The beauty of our business is that we deal in liquid cash, so there is no dead stock or risk of lacking repayment money. We commit to repay on time and in full every time.

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