11 installments • 45%
Am Fatuma Zimba,a resident in Timboni Watamu in Kenya,am married with eight children who are now in school and one in Pwani university by the name zeinab Ali Zimba,my main occupation is a posho mill business operating here in Timboni, i studied up to class five at mikinduni primary school in the year 1986.i started this business to be able to feed my family and more so educate them up to university.the earnings i get from here shall be used to buy maize stock to sell more flour to my customers. i plan to package maize flour in the future through zidisha loans
My busiess is a posho mill business here in Timboni watamu,the demand for flour here is greater hence able to make more profits for myself,there is only one posho mill.risks include lack of electricity during rationing.No direct competition here since there is only one posho mill which is about 1 km apart.In a month i make about kshs 30,000,expenses of kshs 14,000,the balance is used to make buy more stock and pay up my lenders.
My business is a posho mill business here in Timboni Watamu.I will use the loan to buy 17 bags of maize which will cost kshs 35,000.I expect to get about kshs 60,000 in gross profit.the rest of the amount shall be used for transport of the bags to my posho mill and storage room.Watamu being a busy area,there is high demand and potential for this business.
Nov 21, 2012
Cost to entrepreneur
Lender interest: $464.13 at 9.15% annual rate over 12 months = $45.18
Service fee: $24.69
Upon joining Zidisha, Fatuma paid a lifetime membership fee of $17.46.