My mobile money transfer business

Entrepreneur

About Me

I am Owusu Berchie, holder of Bsc Management degree and HND Marketing from the University Cape Coast and Sunyani Polytechnic respectively. I am also a staff of National Health Insurance Authority - Asutifi Office. As a child, my Dad who was an Agriculturist and the only breadwinner of a family of eight, wanted to see me go higher on the education ladder but unfortunately he passed-on few months into my final senior high school exams. I wrote my final exams whilst the remains of my father was still in the morgue. I knew education was my only way out and thankfully, in the midst of all the difficulties, I made it to the Polytechnic and subsequently to the University. I started my MTN mobile money transaction when a friend of mine educated me on business and its potential growth. I have a three year old daughter called Fiona and my dream is to see her become one the best layers of her generation. I have set a monthly contribution for her education fund towards her higher education. The fund can only be assess by her when she attains eighteen years. Football is my passion and the beautiful game takes greater part of my pastime. Watching Game Of Thrones is also one of favorite leisure hours and ardent fun of Manchester United.

My Business

My business, the MTN mobile money services is a mainly transfer or receipt of fund through mobile phone. The operation is done offline and you only need a registered chip from the network provider (MTN) and cash deposit to start the business. The more funds you have in your mobile money wallet or phone, the more you are able to do more transactions and the greater your profit margins. Profits or gains are generated by the number of transaction you do per month. The service is currently booming in my country as seven in ten adults currently send and/or receive money through the service which is also helped by the large mobile penetration in my country. The growth potential is also enormous as additional services such purchase of government treasury bills and mobile savings breaking new frontiers. I plan to do my Masters (second degree) once my business is well established and new branches opened.

Loan Proposal

The loan if granted, will be used as an added fund to my already existing capital to increase my ability to transact as many transfer as possible in a day. The mobile money transfer is such that once you register with the service provider, you are suppose to fund your transaction and earn commission per each transfer. In effect, the more available funds you have for transactions, the more commission you earn from the business. So, I definitely intend to raise my business capital with the loan I secure from this platform. With an added fund, I expect my profit to increase from the current $25 to about $61 per week. This will help me open new branches and facilitate my desire to do my second degree. In expanding the business, employment opportunities will be created for the youth in my community.

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